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alstry (36.12)

The Music is Getting Softer 11.10.9......

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16

November 03, 2009 – Comments (9)

The Honolulu Symphony may file for bankruptcy protection as early as tomorrow, according to people familiar with the situation.

The symphony, the oldest American orchestra west of the Rocky Mountains, has struggled in recent years to pay its musicians. Two months ago it received a $1.8 million cash infusion to cover operating expenses for the upcoming season.

http://www.honoluluadvertiser.com/article/20091103/NEWS01/911030360/Symphony+may+face+bankruptcy

It is amazing how much financial distress there is out there....families, businesses, and organizations.  Many are Feeling the Zombulator as we approach 11.10.9.

A number of businesses have liquidated inventory and have little in the way of collateral to reinvest or obtain a line of credit for new inventory.  CIT's bankruptcy will not help matters.

Many homebuilders have sold off the "good" fininshed lots at firesale prices and now have to spend what little precious cash remains to build out new lots and/or communities.  This is where the rubber hits the road in the homebuilding business because the cost basis of the new lots will be relatively very high compared to ridiculously low impaired finished lot basis.

This is the kind of stuff the mainstream housing analysts don't tell you about...but bloggers like FB2 does an EXCELLENT jobs laying out the realities....even if he is a bit bananas.

It will be interesting to see how our nation confronts an unprecedented deficit, unprecedented debt, unprecedented economic distress, and a potentially difficult lending environment as revenues and tax receipts evaporate.

11.10.9....Where we Feel the effects of Zombulation.....even if you can't hear it as loud anymore.

9 Comments – Post Your Own

#1) On November 03, 2009 at 6:10 PM, alstry (36.12) wrote:

The Zombulator is Zombulating Worldwide....even in the UAE

Property vacancy rates in U.A.E. running sky-high

Congrats to Deej for nailing October auto sales, albeit sales were weak.......my guess is November is going to be a lot colder......

Light Vehicle Sales 10.5 Million (SAAR) in October

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#2) On November 03, 2009 at 6:21 PM, Vian51608 (< 20) wrote:

The infusion of cash for the Honolulu Symphony was to pay BACK salaries, not to cover expenses for the upcoming season.  If you are going to report...get your facts straight!

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#3) On November 03, 2009 at 6:32 PM, alstry (36.12) wrote:

It appears you have a grievance with the way the newspapwer reported the story...my suggestion is contact the newspaper or start your own.......

That said, thank you for your contribution furthering evidence of massive Zombulation now being Felt as we approach 11.10.9.

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#4) On November 03, 2009 at 8:12 PM, alstry (36.12) wrote:

BREAKING NEWS!!!!!!!! 

EMERGENCY LAYOFFS SHUTTING DOWN PARKS DEPT!!!!!!!

At least 23 city workers are expected to receive layoff notices tomorrow, according to Local 6621 United Steelworkers President Mary Ivan-Garza.

The union had an emergency meeting at 4:45 p.m. today to notify the affected workers, Ivan-Garza said.

The union represents parks workers, the building and engineering departments and electrical workers, and the cuts will effectively shut down the Parks and Recreation Department, Ivans-Garza said.

http://chronicle.northcoastnow.com/2009/11/03/breaking-news-at-least-23-lorain-workers-getting-pink-slips-tomorrow/

WE ARE NOW SHUTTING DOWN POLICE DEPTS, FIRE DEPARTMENTS, PARKS DEPARTMENTS AND MORE

We now begin to Feel the effects of Zombulation 11.10.9

 

Energizer profit plummets 63%, 400 take buyouts

Lilly to cut up to 191 workers in Indiana by end of 2009

When you have lots firing and few hiring....at some point you have a lot with nothing to do and not many paying taxes.

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#5) On November 03, 2009 at 8:19 PM, dibble905 (< 20) wrote:

alstry, honestly, the whole world has been expecting hiring to lag economic recovery. and stop pushing your date back a month everytime it passes.

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#6) On November 03, 2009 at 8:32 PM, alstry (36.12) wrote:

That is what everyone has been told like a bunch of sheep...hiring only lags recovery in production economies like America in the seventies and eighties......not in a service economy like America is today.

Hiring should lead the recovery......not lag it.  Without people working, there is no services.....

What we are witnessing right now is not hiring lagging a recovery...but firing anticipating a MASSIVE DEPRESSION.

This is the call of the Institute of Alstrynomics.  So far with income tax receipts down over 20% y/y and deteriorating......the call looks very accurate.

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#7) On November 03, 2009 at 8:39 PM, oshiri (< 20) wrote:

Al . . . the jig is up for the Alstrybators . . .

Gold hits record high on India purchase

http://www.ft.com/cms/s/0/0eaa4a80-c856-11de-a69e-00144feabdc0.html

Gold prices on Tuesday surged to an all-time high after India's central bank bought 200 tonnes of the precious metal, swapping dollars for bullion as the country’s finance minister warned the economies of the US and Europe had “collapsed”.

India’s decision to exchange $6.7bn for gold equivalent to 8 per cent of world annual mine production sent the strongest signal yet that Asian countries were moving away from the US currency.

 

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#8) On November 03, 2009 at 11:17 PM, Rasbold (90.92) wrote:

YEAH!!!!

 

They can have what comes out of my mines everyday!

 

1080 and counting!

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#9) On November 03, 2009 at 11:41 PM, alasker (< 20) wrote:

hey alstry:

I think the people who critisize the amount of blogging you do fail to realize that in a perfect world you would only have enough links for maybe a blog a week. The fact is that there are enough headlines for you to blog 4-5 times a day. Maybe we could have an alstry index for the economy based on how often you blog. Then the people could short if it they don;t think that it is getting hard on the ground.

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