Just smile and wave boys, Smile and wave.....

come on what!! thats not nice..i think you are hurting wasder's feelings..that's not nice. maybe we should start a counseling session for all of the bitching..what happened to this damn country!!
this AIG crap makes my f'in blood boil!!!

Posted by: derwood at November 12, 2008 12:37 PM

http://www.nytimes.com/2008/11/13/business/economy/13bailout.html?_r=1&hp&oref=slogin
i can't stop wretching..anyone would have called this one a mile away.
WHY did they bother calling TARP, i would have called it CRAP!!

Posted by: derwood at November 12, 2008 12:43 PM

my mentor taught me real estate not only can be worth nothing, its worth less than nothing..when you have negative cash flow real estate is the most illiquid asset on the face of this earth..in the 70s owners were paying people to sign the deeds over on their properties. real estate is worthless!!that being said this will be a real estate renaissance, a golden age for the smart investor..

Posted by: derwood at November 12, 2008 12:52 PM

hahaha DIBS enlighten me..

Posted by: derwood at November 12, 2008 1:05 PM

i didnt drink the DIBS BRG BIFF kool aid they were serving..those dopes still havent answered one of the questions i asked..
some day they will remove their heads from their asses..

Posted by: derwood at November 12, 2008 1:09 PM

your lack of comprehension is laughable..were you able to finish the post..take for example in your industry (which will shrink by about 30% if not more in the next 3 months) what are those funds worth when they have margin calls, exposed positions,etc, etc..and you have NO CAPITOL OR LIQUIDITY to weather the storm? they are worthless!!!!i'm not a moron..in this market that we have here..vacancy rates poised to go through the roof taxes poised to go through the roof what is that piece of crap building worth..NOTHING!!if you cant weather the storm and you paid way too much for it..so DIBS maybe you can work for me when your fund evaporates..clean the toilets in my building that's about all HEDGIES are good for anyway..

Posted by: derwood at November 12, 2008 1:25 PM

let's illustrate the example a little better so maybe DIBS could follow..front page of wsj sheldon adelson 38 billion empire has been decimated to close to 1 billion in about 6 months..can you explain to me y? the real estate albatross..its taken down the biggest..reichmann..dude do a little research know your history..

Posted by: derwood at November 12, 2008 1:48 PM

what circles..real estate (in a depression) is WORTHLESS is that better..

Posted by: derwood at November 12, 2008 1:55 PM

all right DIBS appreciate it..where was the real value..in his real estate and development..can't support the debt on his REAL ESTATE..

Posted by: derwood at November 12, 2008 2:00 PM

The company ran into severe trouble in the early 1990s. It was due in part to a general decline in the world economy, but the company was truly brought low by the Canary Wharf project. It was the world's largest property development, but remained half empty. Reichmann had taken the project as a major gamble. He had been impressed by Margaret Thatcher's reforms and obtained a personal promise from her that she would help the project, most importantly by extending the London Underground to reach it.

In Canada, Reichmann's once sterling reputation also began to suffer. In 1985 the company had bought Gulf Canada in a deal that included some $300 million in tax breaks. Many Canadians were infuriated that a massive corporation had been given such a lucrative deal. Toronto Life magazine also published a highly critical article on the Reichmanns. The family took offence at allegations that Samuel Reichmann had aided the Nazis with illegal smuggling operations during the Second World War. The family sued the magazine for an unprecedented $109 million. They were successful, and Toronto Life published a full retraction, but their heavy fisted response soured many in the Canadian media to the Reichmanns.

In 1992, Olympia and York collapsed under some $20 billion in debt. Paul Reichmann lost most of his personal fortune, and his business reputation was severely tarnished.
real estate is still worthless, even though I'm not as gifted geographer as DIBs..

Posted by: derwood at November 12, 2008 2:05 PM

return of the DIBS ...

Posted by: derwood at November 12, 2008 2:07 PM

yeah its not the 90s correct, maybe more like the 70s or the 30s so what's your point?

Posted by: derwood at November 12, 2008 2:11 PM

how are you arguing this point..in a depression real estate is worthless..isnt this your job..evaluating a company's worth how would you evaluate most real estate portfolios at this point?SL green..trump?

Posted by: derwood at November 12, 2008 2:14 PM

douchewood? no really, douchewood?..i don't get it..with a name like that,BIFF, i have been biting my lip not to comment..but what is the point of insulting you..not really worth my time..maybe I'll cut and paste the moronic banter between you and BRG that effectively eliminated the discussion on our previous post to point out your intellectual prowess..hahahaha.
"I was toying with you on the last thread. I'll do it again here if you're not careful."
what would i have to be careful about, you telling where to get chocolate and lattes...

Posted by: derwood at November 12, 2008 3:04 PM

DIBS the only point I have restated over and over again is REAL ESTATE IS WORTHLESS IN A DEPRESSION. its not that difficult..real estate has no inherent value why cant we accept and move on!!

Posted by: derwood at November 12, 2008 3:08 PM

douchwood douchewood douchewood douchewood douchewood,does it get funnier each time I repeat it, are you chuckling inside like a fourth grader.douchewood douchewood douchewood..this is the way i teach fourth grader so they get all their giggles out. are you done yet. douchewood douchewood douchewood.
can you come back to class yet BIFF?(the sound of one empty head striking a wall or other surface)

Posted by: derwood at November 12, 2008 3:12 PM

no, literally biting my lip..not an expression.owned me? you still havent answered those questions you oaf.what quotes of yours, your pointless conversations stuck in my mind as an example of sheer stupidity and shallow materialism..you will have try a lot harder than that..BIFF (the sound of an empty head striking a hard suface)

Posted by: derwood at November 12, 2008 3:18 PM

i think i have taken the position that once Biff opens that mouth that its time to stop on any given thread, especially when he starts the empty threats..not sure exactly where you won on this one champ..
dibs what was lehman worth when it went away, or any of the other financial giants worth..nothing..because they had negative net worth..people would pay NOTHING for them, because the potential liabilities could not justify ANY price. the same could be for oil if it costs more to take it out of the bowels of the earth or any other asset if its net worth is negative and it is costing you more to hold/manage/extract then then to let it lay fallow..just one man's opinion..people forget that walentas bought DUMBO for a couple of $s a sq ft..but then he had to have the pockets to hold..that is a huge expense!

Posted by: derwood at November 12, 2008 6:25 PM