Iâm in construction.
Expecting to be laid off, Iâve been lurking here for three years reading books and paper trading. Trying to teach myself to be a day trader as a fall back job.
One of my friends sent me an e-mail that he had been laid off.
I thought you guys might find it interesting. (I did changed the names)
Please comment on the accuracy of the e-mail.
Post any e-mails you may have run across that are in the same vain.
And assuming the assumptions and observations made below are correct what should I be watching as possible profitable trades? (Both short and long term)
________________________________________________________________________
John,
I hope you have been able to avoid the lay offs we are experiencing in the market.
I was let go by the company I went to work for in Chattanooga, TN. The owner, I guess couldnât see selling his plane to keep afloat. They lost all of the 2009 business. One of the hotel projects started in November of 2008 was "moth balled" until the developer can find funding. The owner decided to take over project managing and with only three projects being worked at this time he took my two and let me go. Nice guy.
I hope you are well.
Thanks
Chuck
______________________________________________________________________
Chuck,
I have to pinch myself.
I still have a job.
Iâve been with XYZ for 17 years and our owner says he has the pockets to ride this out.
(Our owner sold the Leer Jet but kept the Gulf Stream)
However, the fifth round of layoffs was last week.
Those of us that are left have had around 40% in pay cuts.
The company pretty much looks like it did in the early 80âs.
I heard PQR has done a bunch of layoffs.
I donât think CBA has much going on. As far as I know they have no new jobs on the books.
Just the ones they had when you were there and those are all waiting financing.
However, those gritty/tenacious CBAâS play it close to the vest and I know they will survive with their low overhead.
They have been through 2 or 3 more PMâs on that job you left.
Read this:
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily20.html
You may find this article interesting. I think hotels are done for a while.
The owners canât make their payments in most markets.
While the uniformed media and everyone else says this will last another year or twoâ¦.
The word on the street is realtors are swamped with lo-ball cash offers.
It appears the big money is out bottom fishing. They are taking their money out of the toxic stock market and putting it into real-estate, as a âbuy and holdâ, to weather the storm and protect it from taxes and the falling dollar.
They donât pay taxes until they sell. So, all that money will just sit there until the tax and spend democrats are out of office.
However, at least the inventory is getting snatched up.
I guess the bail out money that went to the banks is allowing them to loosen up and start selling those foreclosures at pennies on the dollar.
I thought the bail out money was supposed to allow the banks to start lending; (now we know where it is going.)
If they create a âbad bankâ to hold all of those bad mortgages then the informed money wonât get to steel them like they are.
They will probably/eventually create the âbad bankâ but not until the awesome properties are snatched up.
The tax payer will once again get stuck holding the stinkers.
I wonder if this was the plan all alongâ¦.. Oh to be a fly on the wall.
I guess the informed money will need property managers for all of their real-estate holdings.
I wonder the nationality of the informed money? Probably the same as who loaned U.S. the 850 billion.
That way they get U.S. from both ends.
Keep me informed of your plans I may be where you are one day and need your advice and market outlook.
John
____________________________________________________________________________
So thats whats its like down in the trenches of the housing bust.
Expecting to be laid off, Iâve been lurking here for three years reading books and paper trading. Trying to teach myself to be a day trader as a fall back job.
One of my friends sent me an e-mail that he had been laid off.
I thought you guys might find it interesting. (I did changed the names)
Please comment on the accuracy of the e-mail.
Post any e-mails you may have run across that are in the same vain.
And assuming the assumptions and observations made below are correct what should I be watching as possible profitable trades? (Both short and long term)
________________________________________________________________________
John,
I hope you have been able to avoid the lay offs we are experiencing in the market.
I was let go by the company I went to work for in Chattanooga, TN. The owner, I guess couldnât see selling his plane to keep afloat. They lost all of the 2009 business. One of the hotel projects started in November of 2008 was "moth balled" until the developer can find funding. The owner decided to take over project managing and with only three projects being worked at this time he took my two and let me go. Nice guy.
I hope you are well.
Thanks
Chuck
______________________________________________________________________
Chuck,
I have to pinch myself.
I still have a job.
Iâve been with XYZ for 17 years and our owner says he has the pockets to ride this out.
(Our owner sold the Leer Jet but kept the Gulf Stream)
However, the fifth round of layoffs was last week.
Those of us that are left have had around 40% in pay cuts.
The company pretty much looks like it did in the early 80âs.
I heard PQR has done a bunch of layoffs.
I donât think CBA has much going on. As far as I know they have no new jobs on the books.
Just the ones they had when you were there and those are all waiting financing.
However, those gritty/tenacious CBAâS play it close to the vest and I know they will survive with their low overhead.
They have been through 2 or 3 more PMâs on that job you left.
Read this:
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily20.html
You may find this article interesting. I think hotels are done for a while.
The owners canât make their payments in most markets.
While the uniformed media and everyone else says this will last another year or twoâ¦.
The word on the street is realtors are swamped with lo-ball cash offers.
It appears the big money is out bottom fishing. They are taking their money out of the toxic stock market and putting it into real-estate, as a âbuy and holdâ, to weather the storm and protect it from taxes and the falling dollar.
They donât pay taxes until they sell. So, all that money will just sit there until the tax and spend democrats are out of office.
However, at least the inventory is getting snatched up.
I guess the bail out money that went to the banks is allowing them to loosen up and start selling those foreclosures at pennies on the dollar.
I thought the bail out money was supposed to allow the banks to start lending; (now we know where it is going.)
If they create a âbad bankâ to hold all of those bad mortgages then the informed money wonât get to steel them like they are.
They will probably/eventually create the âbad bankâ but not until the awesome properties are snatched up.
The tax payer will once again get stuck holding the stinkers.
I wonder if this was the plan all alongâ¦.. Oh to be a fly on the wall.
I guess the informed money will need property managers for all of their real-estate holdings.
I wonder the nationality of the informed money? Probably the same as who loaned U.S. the 850 billion.
That way they get U.S. from both ends.
Keep me informed of your plans I may be where you are one day and need your advice and market outlook.
John
____________________________________________________________________________
So thats whats its like down in the trenches of the housing bust.
