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Numerous buying opportunities have developed in the wake of the recent foreclosure crisis. Websites such as ForclosureRadar.com provide up-to-date information on every foreclosure opportunity available in California, including exclusive daily updates on every auction. However, the real beneficiaries of the increased foreclosure supply are the homeless.
Think about it. A newly foreclosed home may still have running water, electricity, and other working utilities. Finally! A way for the homeless to keep up with the Joneses…a shopping cart in every driveway. The foreclosure supply obviously varies from town to town. I know San Antonio isn’t nearly as bountiful as it is in Cleveland where this phenomena is taking place. There are an estimated 15,000 single-family homes vacant due to foreclosure in Cleveland and suburban Cuyahoga County.
“Many homeless people see the foreclosure crisis as an opportunity to find low-cost housing (FREE!) with some privacy,” Brian Davis, director of the Northeast Ohio Coalition for the Homeless, said in the summary of the latest census of homeless sleeping outside in downtown Cleveland.
Unfortunately “privacy” may potentially translate into “crime”…drugs and prostitutes. Sorry, Hugh Grant. You’re about 12 years too late to take advantage of one of these safehouses. Present celebs take note! Cleveland is the place to be!
Courtesy AP via Yahoo! Finance.
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Does it look like I’m bluffing, bitch?
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While catching my recommended daily allowance of CNBC this morning, Becky Quick (aka. “Summer Teeth”) spoke with Warren Buffett about his offer to rescue bond insurers by providing re-insurance on up to $800 billion in municipal bonds. Via Berkshire Hathaway, the offer was extended to New York Superintendent of Insurance, Eric Dinallo, for his blessing. Subsequently, the offer was made last week to Ambac Financial (NYSE:ABK), MBIA (NYSE:MBI) and Financial Guaranty Insurance Co (FGIC). The plan would ensure that the bond insurer would be backed by Berkshire Hathaway in the event that the municipality and insurer both fail.
Buffett addressed the pricing disparity of these “14% bonds” versus Triple A-rated Treasuries below 4%, and added that the muni bond market appears as if it has “lost their Triple A…they’re trading as if they’re uninsured now.” The Buffett Bailout would certainly free up some capital for these bond insurers to deal with their CDO woes.
Apparently one of these firms has already rejected the plan. So, they’re probably gonna tank. Hey, Warren…I hear Latrell Sprewell is broke. Hook a brotha up!
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Ford (NYSE: F) may eliminate another 9,000 U.S. factory jobs via buyouts and early-retirement offers. The company’s initial goal was to cut 8,000 jobs, but according to an article on Bloomberg.com, Ford won’t limit the number who leave if more than the target range of 8,000 to 9,000 opt for the offers. If Ford reaches its goal of eliminating 8,000 jobs, it will have cut 44% of its North American hourly jobs in three years.
 Courtesy Autoblog.com |
The good news? Ford will turn around and add 26,000 libs to its lineup. What happened to the whole “green” thing? The Alton Manufacturing F-650 XUV features a Caterpillar 7.2L C7 ACERT engine, hardwood floors, a few big screens, and triple train horns. And just to be sure you can make it around the block at least 3 times, it includes a 45-gallon fuel tank…all for about $200k. Somebody call Shaq! For those of you that don’t have $200k in dispoable income, do what my friend, Eddie, did. Buy a diesel Excursion, lift it, throw some 22s on that b!+c#, add some drop screens, and your own train horn (which is alot of fun, BTW)…and voila!
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Jeep needs a turnover as well
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Former “big three” cohort Chrysler will try to dodge (pun intended) disaster by carving out about half of its models as well as decrease its network of dealerships.
Shrinking the number of dealers will be difficult, however, because of laws in all the states protecting those businesses, analysts said. If Chrysler, with about 3,600 dealers, wants to move quickly, it likely will have to offer financial incentives.
Over the years, the automaker and its U.S. rivals, General Motors Corp (NYSE: GM) and Ford Motor Co (NYSE: F), have tried to shrink their dealer numbers, often facing great resistance. However, analysts said some dealers may be more receptive now, given the weak U.S. economy, if the offers are generous.
Reuters
Forbes recently crowned five Chrysler cars as “Automotive Turkeys” on its list of 10 Poorest Performing Cars for 2007. Those models included Chrysler Sebring, Dodge Nitro, Jeep Liberty, Dodge Caliber, and Dodge Magnum. Factors included number of recalls, high depreciation, and NHTSA ratings below four stars. Not to mention they’re all ugly, so…um…that’s probably why also. In addition to the elimination of models — some of which are ineffectually duplicated and rebadged models — Project Genesis calls for the introduction of new, competitive models. The dealerships will likely be consolidated to include all three nameplates under one roof.
If I was a betting man, I’d go all in on the idea that Kirk Kerkorian and Carlos Ghosn will both be involved in preparing a gameplan that includes Chrysler LLC.
Large popcorn please…no butter.
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In his interview with Neil Cavuto yesterday, The Donald reacts firmly to Ben Bernanke’s suggestion for a fiscal stimulus package. I almost became enraged at Trump’s arrogance until I saw Cavuto’s mug. Have you ever seen someone…a total stranger…and thought to yourself “I hate that guy” based solely on looks? Hey, Trump. Please get Cavuto on the next Celebrity Apprentice so can fire his ass. Sorry. Here’s the vid.
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I’m not a huge fan of fast food, but I do have my moments. I will say that among the fast food burger joints in any region, Whataburger is hands down the best burger. It’s the closest thing to a real hamburger (as opposed to rubbery, fast food burgers). For those of you not in the South…well, you have no clue what I’m talking about. But if you make it down here, give it a try.
This morning I received an email from a friend containing 12 coupons to Whataburger. The coupons were for a vareity of items to be given away free. They included fried pie, medium french fries, breakfast on a bun, a 20 oz drink, and a burger. While it sounds like a good deal, the coupons are not valid.
It has come to Whataburger’s attention that an unauthorized, unreleased version of a proposed internet coupon promotion called the “12 Days of Whataburger” has been circulated via email. These are NOT valid coupons and will not be honored at Whataburger restaurants.
We apologize for any inconvenience this may have caused. Thank you for your understanding.
Here’s an example of one of those coupons.
Some things are just too good to be true.
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Nevermind waiting for the “last minute” shipping prices to kick in. According to Sunday’s comScore Black Friday press release, online sales of consumer electronics from November 1st to 23rd rose 21% from 2006. So last night I decided to visit the Amazon.com bestsellers lists. The bestselling electronics items at Amazon.com was primarily made up of GPS systems and digital cameras. Among the top items, the Top 3 included [1] the Kindle Wireless Reading device (pictured at right), [2] Garmin nüvi 660 Pocket Vehicle GPS Navigator
The same study of e-commerce spending discovered that Video Games, Consoles & Accessories increased 134% over 2006. The Top 15 Bestselling Video Game items on Amazon.comincluded the following:
If none of these items whet your palette, check out this list of cool holiday tech toys.
PayPal Offers Cash Back For Purchases
Of course “restrictions apply”. But 20% cash back is well worth the effort. PayPal is offering up to $50 per PayPal account when you shop at select merchants. Click here to see which merchants are included in this special deal.
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