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sage2123 288 posts  |  Last Activity: 14 hours ago Member since: Mar 1, 2009
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  • LAS VEGAS (AP) - It took $817 million, two starts, more than six years and one worker's life to drill a so-called "Third Straw" for Las Vegas to keep getting water from a shrinking Lake Mead.

    The pipeline is 600 feet underground, where a 3-mile tunnel runs horizontally to an intake at the very bottom of the lake. It'll be flooded this summer so residents and tourists can continue to draw water even if two other intakes go dry.

    The project is the latest example of ways the parched West is scrambling to deal with 15 years of unprecedented drought. Californians are ripping out thirsty lawns and asking farmers to turn off spigots.

    Las Vegas has few choices. It gets about 90 percent of its water from the Colorado River reservoir behind Hoover Dam.

    Sentiment: Sell

  • Given that China is arguably the world's largest economy and consumes 25% of all raw materials, perhaps we should take notice?

    China is having a serious market meltdown.

    After exploding earlier in the year because of deregulation, China's benchmark Shanghai Composite has collapsed a crazy 29% since the highs of early June. China's other stock markets have had similarly steep falls.

    Bloomberg notes that the crisis is closely mirroring the 1929 Wall Street crash, which led to the Great Depression in the US in the 1930s.

    And....

    BEIJING (Reuters) - Dismayed by the millions of unsold homes in China's troubled real estate market, the Chinese government is taking matters into its own hands: by buying some properties and turning them into public housing. Like a white knight riding to the rescue of distressed developers, a handful of local governments are snapping up thousands of empty homes at hefty discounts and re-selling them to the country's poorest households.

    This cannot be a cure-all for China's huge supply overhang. At the end of May, according to the National Bureau of Statistics, unsold residential floor space totaled 657 square kilometers - the most unsold space in at least two years, and covering an area nearly the size of Singapore.

    Sentiment: Sell

  • Reply to

    ownership lowest level in 18 years

    by primemeridian Jul 5, 2015 5:20 PM
    sage2123 sage2123 18 hours ago Flag

    This was one big mistake in social engineering.

    Roughly 2/3 own their own homes and 1/3 rents, trending to 60/40 split. The reasons are numerous, but the ratio holds.

    Its like trying to change the boiling point of water.

    Sentiment: Sell

  • sage2123 sage2123 18 hours ago Flag

    As are most other traditional defined benefit plans.

    Sentiment: Sell

  • sage2123 by sage2123 Jul 4, 2015 12:46 AM Flag

    I think not.

    All-cash buyers seem to be finally retreating. The percent of homes purchased by all-cash buyers share in May was close to its long-term average going back to January 2000 of 24.8%, and well below its recent peak of 42.2% in February 2011.

    SHANGHAI (Reuters) - Chinese stocks tumbled again on Friday, taking the week's losses to more than 10 percent, as the securities regulator said it was investigating suspected market manipulation and announced a slew of measures aimed at heading off a full-blown crash.

    After a slump of nearly 30 percent in Chinese stocks since mid-June, the China Securities Regulatory Commission (CSRC) has set up a team to look at "clues of illegal manipulation across markets".

    Sentiment: Sell

  • sage2123 sage2123 Jul 2, 2015 9:43 AM Flag

    So....the city of Chicago terminates 1,400 working age individuals and adds debt to its coffers just to support its retirees.

    Bad math. This will not end well.

    Sentiment: Sell

  • Chicago Public Schools made good on a mammoth $634 million payment to its teachers’ pension fund on Tuesday, the same day it was due.

    As many as 1,400 employees will be laid off beginning Wednesday, according to CPS.

    Sentiment: Sell

  • ABOUT half of American adults have postponed a major life decision in the past year for financial reasons, mainly because they lack sufficient savings or are worried about the economy, or both, a new survey finds.

    The survey, conducted for the American Institute of Certified Public Accountants, found that the proportion of people delaying big decisions like buying a home or getting married had risen to 51 percent, from 31 percent in a similar survey in 2007, before the start of the financial downturn.

    (The telephone survey of 1,010 adults, age 18 and older, was conducted in March by Harris Poll. The margin of sampling error is plus or minus 3 percentage points.)

    The change was striking, and the percentages more than doubled in some areas. Nearly a quarter said they had delayed higher education, up from 11 percent in 2007, and 18 percent said they had put off retiring, compared with 9 percent in the earlier survey. Twenty-two percent said they delayed buying a home in 2015, compared with 14 percent in 2007.

    The change was also evident in life decisions that weren’t solely financial in nature: 13 percent said they had delayed having children, compared with 5 percent in 2007, and 12 percent said they had postponed marriage, up from 5 percent in 2007.

    Sentiment: Sell

  • Sure glad we don't live in a global economy....

    SAN JUAN, Puerto Rico (AP) — The governor is warning that Puerto Rico can’t pay its $72 billion public debt, delivering another jolt to the recession-gripped U.S. island as well as a world financial system already worrying over Greece’s collapsing finances.

    ATHENS, Greece (AP) -- Anxious Greek pensioners swarmed closed bank branches Monday in the hope of getting their pensions, while queues formed at ATMs as they gradually began dispensing cash again following the imposition of strict controls on capital.

    As global markets plunged following one of the most dramatic weekends in Greece's five-year financial saga, the country woke up to a changed financial landscape that many in the markets fear could be a prelude to a messy debt default and a damaging Greek exit from the euro.

    Sentiment: Sell

  • Federal water managers let the closely regulated surface level at Lake Mead go to a record low overnight before guiding it back above a crucial drought shortage trigger point. Rose Davis, a Bureau of Reclamation spokeswoman, said Wednesday that a record low water level of 1,074.98 feet above sea level was reached a little before midnight Tuesday. The level increased to 1,075.05 feet by 7 a.m. She said that several more drops below 1,075 feet were expected in coming weeks, but that the lake level would rise by the end of the year to about 1,081 feet. That is six feet above the trigger point that would require a cut in water supplies to Arizona and Nevada. The reservoir, behind Hoover Dam, is at about 37 percent of capacity.

    Sentiment: Sell

  • sage2123 by sage2123 Jun 28, 2015 11:07 PM Flag

    State officials once again slashed water use for Northern California farmers on Friday, announcing a new round of cutbacks targeted at people and businesses who laid claim to their water as far back as 1858.

    The new curtailments impact just 11 water rights holders, but they're one more sign of how serious the drought has become. Earlier this month, the State Water Resources Control Board announced curtailments for "senior" rights holders for just the second time ever, warning that further cutbacks were on the horizon. Friday's announcement followed through on that warning.

    "Barring a miracle, we're going to continue to see curtailment orders issued throughout the summer," Peter Gleick, president of the Oakland-based Pacific Institute, told The Desert Sun earlier this month.

    The cuts announced Friday affect five water agencies that collectively serve more than 300,000 acres of farmland, as well as Pacific Gas & Electric, a handful of individual water users and Vulcan Materials Company, the nation's largest provider of gravel and other construction material. Until further notice, they won't be allowed to draw water from the Merced River or the Upper San Joaquin River, depending on their water right.

    California has now curtailed more than 9,000 water rights this year, many of them belonging to farmers. But until this month, only "junior" water rights holders, who laid claim to surface water after 1914, were affected.

    That changed two weeks ago, when the state water board announced cutbacks for114 water users who established their rights between 1903 and 1914. Those curtailments affected water rights on the San Joaquin River, the Sacramento River and the delta that forms where the two rivers meet.

    The latest curtailments go even further back, cutting off Merced River water for users who established their rights between 1858 and 1914. They also impact pre-1914 and post-1914 rights to water from the Upper San Joaquin River.

    "The impact continues to widen and deepen as we go through this year," Dave Kranz, a spokesperson for the California Farm Bureau Federation, recently told The Desert Sun. "It's going to be a long, tough summer for a lot of people."

    Sentiment: Sell

  • Reply to

    FTR,WIN, and CTL all near 52 week lows

    by sage2123 Jun 25, 2015 12:50 PM
    sage2123 sage2123 Jun 28, 2015 6:33 AM Flag

    This Bd is for a discussion of facts about FTR.

    Why? Because you say so?

    People purchase stock in a company for personal reasons....don't they?

    I do remember MANY posts about FTR being used to fund Maggie's (et al) retirement. Payroll machine and other subjective ants about unqualified hires.

    Sentiment: Buy

  • Reply to

    FTR,WIN, and CTL all near 52 week lows

    by sage2123 Jun 25, 2015 12:50 PM
    sage2123 sage2123 Jun 27, 2015 9:40 AM Flag

    You forgot to add that the net loss is only realized if you sell.

    Tempus narrabo,

    Sentiment: Buy

  • Its all part of the cycle.

    Sentiment: Buy

  • sage2123 by sage2123 Jun 25, 2015 12:46 PM Flag

    Federal water managers let the closely regulated surface level at Lake Mead go to a record low overnight before guiding it back above a crucial drought shortage trigger point. Rose Davis, a Bureau of Reclamation spokeswoman, said Wednesday that a record low water level of 1,074.98 feet above sea level was reached a little before midnight Tuesday. The level increased to 1,075.05 feet by 7 a.m. She said that several more drops below 1,075 feet were expected in coming weeks, but that the lake level would rise by the end of the year to about 1,081 feet. That is six feet above the trigger point that would require a cut in water supplies to Arizona and Nevada. The reservoir, behind Hoover Dam, is at about 37 percent of capacity.

    Sentiment: Sell

  • There exists an inverse relationship between home sales and interest rates.

    Federal Reserve Governor Jerome Powell on Tuesday said he sees conditions for an interest rate liftoff as soon as September, and an additional increase in December.

    He added that he believes the dollar and oil prices have broadly stabilized.

    He estimated the economy will grow at around a 2 percent pace this year.

    Powell said he's seen positive signs in the economy, including a pickup in wages and an uptick in the labor participation rate.

    Powell is a voting member on the policy-setting committee.

    Sentiment: Sell

  • Surely the sign of a vibrant economy....

    NEW YORK (AP) -- Fifth Third Bancorp plans to close or consolidate about 100 branches and has abandoned plans for 30 new ones.

    Sentiment: Sell

  • Booming I tell you....

    HERSHEY, Pa. (AP) -- Hershey is expected to cut about 300 jobs by the end of the year as it looks to simplify its operations. The candy maker also cut its revenue outlook for the year.

    Sentiment: Sell

  • Ripped from today's headlines....

    WASHINGTON (Reuters) - Bank repossessions rose again last month, driving overall U.S. foreclosure activity to a 19-month high on an annual basis, industry firm RealtyTrac said on Thursday.

    A total of 126,868 homes across the country were at some point in the foreclosure process in May, up 1 percent from April and up 16 percent from the same time last year, RealtyTrac said.

    Foreclosure activity includes foreclosure notices, scheduled auctions and bank repossessions.

    Sentiment: Sell

  • Reply to

    FTR is on the move

    by sage2123 Jun 16, 2015 10:22 AM
    sage2123 sage2123 Jun 17, 2015 9:14 AM Flag

    Company size isn't a metric to receive CAFE funds. As I understand it it has more to do with market penetration rates. T and VZ are already in the low 90%'s, while FTR is in the high 80%'s, so it makes economic sense for them to accept CAFE funds to reach/build out to another 5-7% of the population that is not served.

    Sentiment: Buy

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