Mid-Week Open Thread (2009-07-29)

Here is your open thread for the mid-week on July 29th, 2009. You may post random links and off-topic discussions here. Also, if you have an idea or a topic you’d like to see covered in an article, please make it known.

Be sure to also check out the forums, and get your word in the user-driven discussions there!

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.

29 comments:

  1. 1
  2. 2
    Sniglet says:

    This is off-topic (as if there really is one for these open threads), but I wanted to put a plug in for my survey about the recession and technology spending.

    If you can spend just 10 minutes to fill out the survey, you response will contribute to a report I am writing on how the recession is impacting the technology sector (which I will be making freely available on my blog).

    http://seattlebubble.com/forum/viewtopic.php?f=5&t=2267

  3. 3
    Cheap South says:

    How about a $99K home??

    From the PI.

    http://blog.seattlepi.com/realestatenews/archives/174848.asp

  4. 4
    Niz Monkey says:

    RE: ray pepper @ 1

    Ouch is right. Hey, we reduced our crummy real estate construction and development portfolio by 37%!!! Did I mention we still lost a boat-load of money?!?! At least they managed to save ~398K by firing people. Hardy har har.

  5. 5
    patient says:

    Bernanke is trying to charm the american people to get re-elected and is now talking about how he held his nose while dropping billions of $$$ on the banks etc,etc. He’s going to get more desperate up untl the decision is made on the new FED chairman. His love and desire for power is kind of disturbing enough but the real question can be visulized like this:

    Say that people in Seattle start to ignore traffic laws, people drive drunk, without licenses and with non road worthy vehicles. The accidents with personal injuiries and fatalities skyrockets. The person in charge decides to solve the problem by taking tax payer money to buy all the offenders/criminals brand new safer cars. The fatalities drops but traffic is still slow and dangerous. Is that person someone that should be re-elected due to his crisis management “skills”? Or would we rather prefer a person that would have enforced and strenghtened the rules and punishements at the first sings of the problem and thereby avoided the bulk of injuries and fatalities altogether?

  6. 6
    deejayoh says:

    By ray pepper @ 1:

    OUCH !

    Now That is an UGLY CC.

    http://finance.yahoo.com/news/Frontier-Financial-iw-683174082.html?x=0&.v=1

    With performance like this, one wonders how they can still be in business (emphasis mine):

    The results for the three and six months ended June 30, 2009, reflect continued pressure from an uncertain economy and the negative impact on the local housing market. The ratio of nonperforming assets has increased to 20.53% of total assets at June 30, 2009, up from 16.25% at March 31, 2009, and 2.97% a year ago.

  7. 7
    Anon says:

    RE: patient @ 5 – A couple of Shaw quotes come to mind here:
    Democracy is a device that insures we shall be governed no better than we deserve.andDemocracy substitutes election by the incompetent many for appointment by the corrupt few.
    Short-term gain always trumps long-term planning.

  8. 8
    Scotsman says:

    Opps- Boeing just had its credit rating cut one notch:

    http://www.reuters.com/article/AIRDEF/idUSN2927930820090729

  9. 9
    Lake Hills Renter says:

    Seattle set an all time record today — 102 degrees at SeaTac.

  10. 10
    Kary L. Krismer says:

    RE: Scotsman @ 8 – From what little I read on it, it had nothing to do with the possibility that the 787 may never fly, and the effect that would have. True that’s a real long-shot, but developing an entirely new airplane using new technology is not a risk free endeavor.

    On the temp, Comcast is showing Renton at 105!

  11. 11
    Scotsman says:

    104-105 out here in the foothills, away from the moderating larger bodies of water. Oi! We turned the hot tub off, flushed it with a hose until it dropped to about 80, and dove in. Nice!

  12. 12
    Kary L. Krismer says:

    Maybe I should have called this The Worst Blog Piece In The World!

    http://blog.seattlepi.com/realestate/archives/138000.asp

  13. 13
    David Losh says:

    RE: Kary L. Krismer @ 12

    This was your first post that caught my interest.

  14. 14
  15. 15
    Cheap South says:

    103° at Seatac. Ouch…

  16. 16
    Kary L. Krismer says:

    By David Losh @ 13:

    RE: Kary L. Krismer @ 12

    This was your first post that caught my interest.

    Unfortunately, that company is out of business.

  17. 17
    David Losh says:

    RE: Kary L. Krismer @ 16

    No way! That was a great business model. The guy may have been a little out there, but it was a good idea.

  18. 18

    RE: Anon @ 7

    HI ANON

    I had trouble picking candidates too, gave up, and went 3rd party Nader, now when it all get’s likely worse, I can say I didn’t vote for the select fews’ choices. Nader impressed me with his Tim Eyman type direct democracy, initiatives and referendums to make decions.

    You got it. We’ve become slave’s to the select few’s MSM polls too….they weasle word them to slant the results IMO. Then claim [incorrectly] they have popular support on many important issues, they really don’t have support on.

    Here’s an example:

    If we asked Americans:

    “Do you favor more growth for technology needs”….they ask this question BTW…about half the American Idol watchers and Stupor Bowl fans will agree to it.

    Versus: “Do you favor mitigated growth since there’s a technology glut of experienced tech workers unemployed”? Now, you’d get 98% vehemently against the select fews’ planned overpopulation of America’s scarce tech jobs.

    You get the gist….

  19. 19
    Kary L. Krismer says:

    RE: David Losh @ 17 – He was too generous. He offered me a consignment on the tub. I was happy to get rid of it and didn’t get one. I’m sure most the people we was dealing with would have done the same, but took what he offered.

  20. 20
  21. 21
    Scotsman says:

    More Boeing trouble with the Dreamliner- looks like the wing issue is worse than originally reported. 2012?

    http://seattletimes.nwsource.com/html/boeingaerospace/2009565319_boeing30.html

  22. 22
    Kary L. Krismer says:

    I had no idea Cash for Clunkers was so popular. They’re possibly suspending it because it may already be out of money!

    http://www.msnbc.msn.com/id/32228179/ns/business-autos/

  23. 23
    DrShort says:

    Kary — isn’t this the time of the month when you give us a sneak peek at where the MLS numbers will come in at? I haven’t seen anything.

  24. 24

    RE: DrShort @ 23

    I’ll do it. Up til today, King County single family residential closed sales is 1325. Expect a few hundred more by the time the stats are official. Stats by MLS not verified or guaranteed.

  25. 25
    The Tim says:

    RE: Ira Sacharoff @ 24 – So barring an end-of-month spike of over 330 more sales entered by agents, it looks like June will have been the high point for sales, as has been the case most years.

  26. 26

    That’s right. Stats I just checked say there were 1707 closed SFR in June in King County. We won’t beat that. Probably over 1600, in any event.

  27. 27
    mukoh says:

    Well, Mastro Chapter 7 case is building up with a good amount of creditors…. How behind is seattle times?

  28. 28
    Kary L. Krismer says:

    By The Tim @ 25:

    RE: Ira Sacharoff @ 24 – So barring an end-of-month spike of over 330 more sales entered by agents, it looks like June will have been the high point for sales, as has been the case most years.

    I wouldn’t put that entirely out of reach, simply because so many agents are so late reporting their sales.That’s part of the reason it’s back-weighted.

  29. 29
    Kary L. Krismer says:

    By mukoh @ 27:

    Well, Mastro Chapter 7 case is building up with a good amount of creditors…. How behind is seattle times?

    I suspect that will be converted to a Chapter 11. The other possibility is that the petition will be dismissed. The least likely alternative, just guessing (I’m not familiar with the financial s, nor have I done anything more than review the docket), is that it will stay a Chapter 7.

    Back when I started practicing we had a few large land owners who were not insolvent, but also not liquid. They came out okay in the end, as did their creditors.

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