What a week ! Last Wednesday I had the opportunity to listen to a keynote speaker none other than Peter Laviolette from the Carolina Hurricanes. It was interesting to hear his perspective on the game of hockey and team building. Some of it may have been lost on his audience of Real Estate Professionals but having grown up myself playing hockey it was insightful. Roll the calendar ahead a couple of days onto Bald Head Island,NC and there he is enjoying a cheeseburger and his favorite beverage the one and only Bill Cowher former head coach and Superbowl Champion from the Pittsburgh Steelers. Now I have to say when does one ever have a week to meet two World Champion head coaches. I managed to sit with Mr. Cowher for a couple of hours share a beverage and listen to him describe his moment in history. What a wonderful experience ! Thanks to you both Peter and Bill you are true Champions.Nonetheless back to my world our world, after a few short days of vacation.
Next order of business the news !! Still doom and gloom and the credit markets in a stalemate. When will this all end. Well for some likely more bank closures, takeovers. The clock is ticking for a big National, further write-downs to come. Now I'm not saying go hide your head under a pillow just be somewhat conscious of these events and pay attention people.
My favorite order of the day the big three and no I don't mean football, yes the automakers are seeking 50 billion yes that's billion in low interest loans to re-tool their plants to convert from trucks to fuel efficient cars. Are you kidding me !! So now we need taxpayers money to help these overpaid Ivy League Grads running these companies to help them compete with Asian companies. O.k so the average autoworker in 2005 was making 105k a year with a 3 year compensation guarantee of up to 95% of their salaries if they were laid off due to factory closings. Hmmmm The bottom line they need liquidity cause even Employee discounts and 0 percent financing can't save them. Let alone the 1million retired autoworkers with nice pensions. Let me be clear I support pensions, but the day of fat pensions is long gone, a likely epitaph for my Three Big Friends, but somehow, someway will resurface in a new improved way. I haven't quite figure that out but will likely involve the PBGC. Hey aren't they supported by the taxpayer ??/
Phew, Well on the serious side I hope all my coastal Carolinian, Floridian, and Louisiana friends are safe and those that were displaced this past weekend and some likely this weekend take care, drive safely and your homes are unscathed