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gfretwell #186398 05/10/09 07:37 PM
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Originally Posted by gfretwell
That is an interesting proposition. I wonder what you could negotiate on a truck load of RX. Part of the problem is where you would store it.


well considering a rather large order, one might be able to go over the usual retail suppliers head , to a wholesaler

and yeah, where to put it Greg? oh well, perhaps UF would fare burial better eh...? ~S~

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sparky #186399 05/10/09 10:58 PM
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Ahh...Sparky sounds like a speculator (LOL)

I remember back about 20 yrs +/- when copper prices were going...up, up, up. At a single location, decent sized supply house, Jr. decided to buy a LOT of NM at the daily $$ and make a 'fortune' as it continued to increase in resale $$$. Sounded good? he agreed to a few EC's 'buy-in' at the daily $$ for future pick-up. Well...guess what? the $$ fell a few days after Jr. made the purchase...and he was stuck with 'high price' NM; or sell it at a loss.

My account with the local phsycic (sp) is closed, and my crystal ball is all cloudy!

But...best of luck to those who speculate!


John
HotLine1 #186403 05/11/09 08:25 AM
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yeah , i remember a few up's and down's over the years myself HotOne.

it's happened before...Copper soars on speculation of Asian recovery

but, the simple supply/demand shouldn't be discounted as a prevelant factor either....

Escondida copper output to fall 30%

but your point of being in the right place / right time for anyone who would like to ride that speculative wave is key

but let's remember, there's always a few who come out high & dry....

~S~


sparky #186453 05/13/09 06:06 PM
Joined: Jun 2004
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Now we see that Advanta, the nation's 11th largest issuer of credit cards with particular emphasis on small businesses is shutting down credit extension immediately.

The shadow banking system is still imploding.

That means real estate deflation which directly affects us.

Of course, our costs have hardly dropped at all.

Banks are shrinking Home Equity Lines Of Credit.

In such times it pays to be liquid and make no attempt to speculate on materials price increases.



Tesla
Tesla #186464 05/14/09 08:42 AM
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well Tesla, the Fed did just come out with their latest star rating system of solvency

not that i hold much stock in the fox/henhouse relationship there

but if you do read up on their pundits it would seem we have 3 distinct fiscal possiblities

become Argentina (you might recall the banking/inflationary cycle there) become Russia (in terms of balkanization) become China (tenant sharecropper)

until then, it's obviously socialism for the rich, 'stimulus' capatalism for the poor here

such is life in an oligarchy, squabbling over the crumbs from the table of the elites....

the irony is that top 1% (and make no mistake about purposely misleading upper quintels, or a top 10%) are enjoying an exponentially increased disparity at our grandkids expense, while the media and powers that be cheerlead it on

imho, throwing $$$ at any problem does not mitigate it's inherently systemic problems, it simply extends the cyclical nature of them as has been seen in our sine wave economy

what is needed is a closer look at the relevance of July 14th's historic implications , which is celebrated here now in 1/2 dz major metro's

~S(let 'em eat the rich)parky~


Last edited by sparky; 05/14/09 08:46 AM.
sparky #187221 06/17/09 07:08 PM
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Well it's been another month and here abouts commercial construction is cratering.

Buildings are being abandoned in mid-construction.

The construction loan portfolio is imploding.

Industry experts are claiming that commercial real estate values have dropped 40% from the peak with another 33% drop from today's prices yet to come.

I had hoped for a sharp severe contraction that would set the stage for a snappy rebound like 1920 thru 1921.

However neither Bush nor Obama operates like President Harding: both committed to re-floating the 'bubbleers.'

The net effect is that the common man is subsidizing the high income crowd: making their bad investments government property/ blown money.

It would be better for everybody if the financial hits were taken by the highly geared speculators who made millions if not billions on the way up.

Unfortunately we have the best Congress that money can buy.

The water-drip torture of chronic erosion of real estate value -- particularly land -- just kills the construction trades.

Why Congress can't take us back to the old system that worked is a mystery. It's plain that no one wants to invest in mortgage backed securities anymore.

It's also plain that the US government is now the banker of first resort for residential mortgages: Fannie and Freddie are government owned as well as being government sponsored.

And with the government not allowing the big banks to fail under any circumstances they must be considered government sponsored enterprises.

Considering the government track record at the VA and the Post Office and at HUD -- yiikes!


10yr Treasury Notes are trading at 3.7% today. That implies that 30yr mortgages will soon be trading at 5.75%. ( These two rates bounce around a spread of 2 percentage points 97% of the time.)

Jumbo mortgages ( beyond $417,00; used for the McMansions ) are trading at 8% !

Right now the only ports in the hurricane are solar power and foreclosure rehabilitations. Since many of those really need the wrecking ball I recommend cross-training on excavators with a 'thumb.'



Tesla
Tesla #187233 06/17/09 10:51 PM
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I'd reply, but I'm too busy right now ... seems everyone wants a service change this week!

Joined: Jun 2004
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I've been reading that Citi is boosting their credit card rate up towards 30% for millions of accounts -- even those with good standing!

This smacks of a credit panic. Apparently the default rates for various card types is now so great that Citi wants out of the business, just like Advanta.

Apparently Citi is also backing out of oil company linked/branded deals.

Since Citi is such a major player it is reasonable to assume that their situation accurately represents the nation as a whole.

Beyond credit cards, it is apparent that bank lending to businesses is contracting nationally by huge amounts. Since so much of our business is supported by the credit markets one must take defensive measures.

The greatest peril right now is extending credit to general contractors. The risk is that one fine day the GC runs off/ folds leaving your billings unpaid. If you were depending on their payment so that you could pay your bills -- then it's all over for you.

The habit for most EC's is to lay off field employees and preserve the office jobs. I predict that it will become essential for you to curtail headquarters staff -- a very painful step.

Chasing bids with more aggressive pricing will prove fatal. Concentrating on sales/contract volume will kill you.

Your field crews are well aware of the contraction. The trouble is, from their point of view, dragging their feet and otherwise slowing down the job seems like the best way to maintain their income. Job completion is equated with a layoff. Hence, job cost overruns are breaking out like a rash all over America.

I've seen this with my own troops at all levels of seniority!

Hence now is the time to get out into the field and ramrod contracts towards the close.



Tesla
Tesla #189932 10/29/09 11:49 PM
Joined: Aug 2007
Posts: 853
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Tesla:
You are just a ray of sunshine with every post.

I am going to go hang myself now.

OOPS, I can't. I sold my very last extension cord.To pay for the food of my children.......

Now what to do?

Relax DUDE!!!!!!!!!!!!!!!!!

We ,you, us. Can take care of it.

Just kick back,relax and THINK.

You give up way too quick. smile

Last edited by leland; 10/29/09 11:50 PM.
leland #189942 10/30/09 04:00 AM
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ironically, i've been getting biz from customers being told to jump through hoops by banks and/or insurance co's here.

they got tight, and it rolled downhill i guess

meanwhile, as the credit world seems to be growing teeth, nobody really investigates the magnitude or impact credit derivitives have made

methinks if more people really understood it, that it would be outlawed as extortion

~S~

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