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alstry (35.42)

February 2008

Recs

17

ABSOLUTELY INSANE!!!!!!!!!!!!!!!!!

February 27, 2008 – Comments (0)

From SPF's S-3 Filing:  [more]

Recs

8

Is Ryland in Trouble?

February 27, 2008 – Comments (5)

Inventory of houses started and unsold declined to 823 units at December 31, 2007, denoting a decrease of 52.8 percent from December 31, 2006.  [more]

Recs

7

Lehman Living in Hope and Client's Dying in Despair?

February 27, 2008 – Comments (0)

Reuters) - Lehman Brothers said sales trends in the U.S. homebuilding industry will improve within the next two quarters and initiated the sector with a "positive" rating.

Stocks in the sector will remain volatile as new home sales have not bottomed and trends will improve by the second half of 2008, Lehman Brothers said.  [more]

Recs

7

How Bad is CA and FL?

February 27, 2008 – Comments (0)

From the HomeDepot Conference Call:  [more]

Recs

12

BUY BUY BUY BUY!!!!!!!

February 26, 2008 – Comments (2)

Residential  Foreclosures  Skyrocketing.      State Sales Tax Revenues Falling.       Announced Job Cuts Rising.       Dollar at Record Lows.      Mortgage Rates Rising.        ABX index crashing.  Corporate Bond Spreads widening.       Oil prices at records highs.      Consumer Confidence at multi year lows.      Inflation at 25 year highs.      Commercial Real Estate values crashing.     FDIC preparing for many more bank failures.      Bad Debt writeoffs skyrocketing.        Retail Sales decreasing.        Auto Sales decreasing.        Restaurant Sales Decreasing.       Credit Card defaults rising.     Home Sales decreasing.   Bank Profits Imploding.    Federal Deficit Exploding.   Municipalities paying double digit interest rates.      Municipalities slashing budgets.      Technology revenues slowing in January.      [more]

Recs

7

Sam Zell calls a housing bottom....Again?

February 26, 2008 – Comments (0)

This moring on CNBC, Sam Zell thought the housing market would bottom in Spring.  [more]

Recs

8

Wall Street Analysts Frogs?

February 26, 2008 – Comments (0)

We all know the story of the frog on boiling water.  [more]

Recs

9

Tens of Thousands of Layoffs?

February 26, 2008 – Comments (4)

From CS Monitor:  [more]

Recs

9

How will builders compete?

February 26, 2008 – Comments (6)

“As builders try to unload finished inventory or secure sales contracts to build new ones, they increasingly are competing against homes they recently sold but have come back on the market as resales, either from people seeking to avoid foreclosure or from banks that have seized properties.”

“Lenders, anxious to rid their books of foreclosure homes, tend to slash prices significantly lower than what it costs builders to construct a similar home, said Jack McCabe, of McCabe Research & Consulting in Deerfield Beach.”  [more]

Recs

10

Bank Failures Flowing

February 25, 2008 – Comments (0)

From the WSJ:   [more]

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9

SPF Executives Getting Sued!!!!!!

February 25, 2008 – Comments (2)

From the 10K:  [more]

Recs

11

Are We Finally Getting a Pulse?

February 25, 2008 – Comments (0)

Cut from Rueters:  [more]

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15

Dumb Dumb Goldberg?

February 24, 2008 – Comments (0)

The following is an excerpt from a MarketWatch article:  [more]

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7

RELAX............Don't Worry

February 24, 2008 – Comments (0)

It's only the subprime borrowers.  [more]

Recs

7

Are the banks squeezing the American People?

February 23, 2008 – Comments (13)

"Nearly all the top home equity lenders I know of are doing this or considering doing this," said Joe Belew, president of the Consumer Bankers Association, which represents some of the nation's largest home equity lenders.   [more]

Recs

7

What will Ernst and Young Say Regarding SPF?

February 23, 2008 – Comments (0)

When considering whether giving a going concern warning, the article cited in the previous post stated the following:  [more]

Recs

8

California Headed for TROUBLE???

February 23, 2008 – Comments (0)

For what one expert thought was the first time, the number of monthly foreclosures exceeded the number of monthly home sales in California in January, according to data compiled by two research companies.   [more]

Recs

9

Will SPF's Auditors issue a "Going Concern" opinion?

February 23, 2008 – Comments (7)

SPF's Audited 10K should be out in the next few weeks.  Will its auditors issue a "Going-Concern" warning?  [more]

Recs

7

Negative Feedback Loop

February 23, 2008 – Comments (1)

You may be hearing more of this term in the upcoming weeks and months.  [more]

Recs

8

Are we simply one BIG Ostrich?

February 22, 2008 – Comments (3)

Homes being foreclosed in record numbers, Who Cares?  [more]

Recs

6

Are YOU Next?

February 22, 2008 – Comments (7)

Merrill paying around 10% for equity injection.

Citi paying around 10% for equity injection.

UBS paying around 10% for equity injection.

Hospital systems paying over 12% for short term money.

Port Authority of New York paying 20%.

 

YOU THINK YOU ARE A BETTER CREDIT RISK THAN THE ABOVE?  HOW MUCH WILL YOU BE PAYING SOON?

Recs

17

It is the Consumer IDIOT!!!!!

February 21, 2008 – Comments (10)

In the past seven years, never has our economy been so dependant on consumerism.  Especially in the area of home purchases/speculation and related purchases.  And when the consumer did not have enough savings to support the habbit, our lending institutions were more than happy to loan out practically infinite amounts to create a boom like none we have seen before.  [more]

Recs

8

HOLD on for the crash!!!

February 21, 2008 – Comments (4)

Soleil Securities Group Inc. analyst Scott Tilghman said in a note to investors on Wednesday that Sharper Image's filing was not a surprise. Tilghman, who had rated Sharper Image "Hold," said he was discontinuing coverage of Sharper Image.

"We find no reason for investors to be involved with Sharper Image in the near term," he wrote.  [more]

Recs

13

Cities Imploding????

February 20, 2008 – Comments (3)

A city in California on the brink of bankruptcy.  Its police officers and firefighters want to retire to lock in retirement benefits.  Pension plans around the country underfunded as millions preparing to retire.  Now the municipal bond market locked up and people can't access their capital without taking huge losses.  [more]

Recs

9

The Unwinding Continues

February 19, 2008 – Comments (3)

More Shutdowns:  [more]

Recs

9

Economy getting Squeezed?

February 19, 2008 – Comments (3)

We know credit card rates are going up.  [more]

Recs

11

Call Your Broker NOW!!!!!

February 15, 2008 – Comments (6)

True story.

 

I have a friend who has $100K  invested in a nationally recognized muni bond fund mutual fund housed at a well known brokerage firm.  His broker called him unsolicited today and told him the fund was illiquid.

 Just curious whether anyone has heard of a similar story?

Recs

10

What are Leaders trying to tell us?

February 14, 2008 – Comments (6)

Greenspan warns U.S. economy near recession  [more]

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7

The Mother of All Crashes

February 14, 2008 – Comments (0)

A couple of headlines from MarketWatch:   [more]

Recs

9

Anyone with a pulse?

February 13, 2008 – Comments (3)

Credit Markets are hitting new lower lows.  Many classes affected including investment grade stuff.  Once you factor swaps, we are talking about multiple times larger market compared to the equity markets.  [more]

Recs

7

15 Steps to a Total Financial Collapse

February 13, 2008 – Comments (2)

1.  In a relatively short period of time, loan trillions and trillions of dollars to individuals, corporations, and municipalities backed by "bubble" valued assets and "bubble" cash flow projections.  [more]

Recs

6

Show Me the MONEY!!!!!

February 12, 2008 – Comments (1)

Is credit tighening turning into a crisis on a number of fronts:  [more]

Recs

8

Has the Economic WMD been Dropped?

February 12, 2008 – Comments (3)

The problem in a nut shell:   [more]

Recs

10

How Bad is the Worst?

February 12, 2008 – Comments (8)

Objectively, has anyone noticed what has happened to the value of the following assets:  [more]

Recs

7

The Worst Is Just Beginning

February 12, 2008 – Comments (0)

  WASHINGTON (MarketWatch) -- Consumer optimism is falling at the fastest pace since the 1990-91 recession, according to a weekly survey released Tuesday by ABC News and the Washington Post. The ABC/Post consumer comfort index fell four points to negative 37 this past week, the lowest reading since November 1993.   [more]

Recs

7

Tough 'O' Meter?

February 12, 2008 – Comments (0)

Corporate Loans are not getting funded.    [more]

Recs

8

Contraction Contraction Contraction

February 12, 2008 – Comments (1)

Feb. 11 (Bloomberg) -- Bond insurance sold by MBIA Inc., Ambac Financial Group Inc. and Security Capital Assurance Ltd. is backfiring on counties, universities and hospitals across the U.S., more than doubling some borrowing costs.   [more]

Recs

12

California Homes 50% OFF Sale!!! "Unheard of Savings"

February 11, 2008 – Comments (3)

D.R. Horton will be liquidating homes at 50% OFF in the next few weeks in CA.  The following is an excerpt from BigBuilder Online:  [more]

Recs

7

How Tight Is Money Getting?

February 11, 2008 – Comments (0)

It appears that there were a number of failed municipal bond offerings between Friday and today.  If our cities can't get funding, well not much more need be said.  Banks are making it harder to get a mortgage.  Credit cards are being revoked.  HomeEquity Lines are being shut down.  Defaults keep growing and forclosures still in full swing.  [more]

Recs

10

Take the Money and Run!!!!!!

February 11, 2008 – Comments (0)

SPF's board just granted a few of its senior executives over $2 million in bonuses.  [more]

Recs

11

Will U.S. Housing Prices CRASH 70% from peak?

February 10, 2008 – Comments (10)

In 2000, the average American family income was X.  [more]

Recs

13

Wall Street Analysts Intentionally Misleading Investors?

February 10, 2008 – Comments (16)

After its most recent earnings report, a number of Wall Street Equity Analysts upgraded SPF.  That fact that it was a number is what is potentially a little unsettling.   [more]

Recs

10

Any Jobs Out There? Anyone Anyone

February 10, 2008 – Comments (7)

As this blog is written, unemployment is being reported at something less than 5%.  [more]

Recs

18

A simple BIG BIG Problem

February 09, 2008 – Comments (10)

In 2000, the income of the average American family was somewhere around $50-60K.  [more]

Recs

7

Banks Tightening and Businesses Closing!!!!!

February 09, 2008 – Comments (0)

 It is not just homeowners in financial hot water. You know various real estate companies are having trouble paying the bills, too. Attorney Evan Smiley is a bankruptcy/insolvency specialist at Weiland, Golden, Smiley, Wang Ekvall & Strok in Costa Mesa and co-author of “Bankruptcy for Businesses,” published last year. We’ve heard he’s been plenty busy lately …  [more]

Recs

7

Standard Pacific (SPF) RESTRUCTURING?

February 09, 2008 – Comments (0)

We know they ended the year in violation of their debt covenants for the third time.  Any baseball players out there?  [more]

Recs

11

The SUCK 'O' METER

February 08, 2008 – Comments (5)

Are things distressed out there?  Let's take a look:  [more]

Recs

8

Consumer Carnage

February 08, 2008 – Comments (1)

Consumer Confidence sank to a new low according to The RBC Cash Index.  The reading was 48.5 versus last months low of 56.3 and the lowest reading since the index began in 2002.  [more]

Recs

14

Has Time Told

February 07, 2008 – Comments (2)

Over the past five years, consumers, business, and government borrowed trillions.  We went nuts on mortgages, home equity loans, credit cards, junk debt, securitized debt, collateralized debt, tranched debt, municipal debt, commercial real estate debt, just to name a few.  The problem is that many of these loans were made with little regard with the borrowers ability to repay.  Now many borrowers can't repay and loans are defauting.  [more]

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