Market's Tanking

NukeWorker · #1 (**permalink**) 03-16-2008, 10:04 PM

I went out to dinner with one of my best buddies who manages one of the bigger mutual funds. It's going to be a nasty week. After about the first 12 phone calls he looked like he just finished a 10 round fight.

**James** · #2 (**permalink**) 03-17-2008, 08:52 AM

and it's going to get worse before it gets better. It's a nasty time right now.

**James** · #3 (**permalink**) 03-25-2008, 08:47 AM

Well some small things are making it a little better, bigger offer for Bear Stearns and the slight increase in home sales, but it's going to take a lot more.

NukeWorker · #4 (**permalink**) 03-25-2008, 09:16 AM

My friend owns 5 million shares of Bear Stearns. The night we went to dinner he was down $500 million.
Jeez, and here I am worrying about spending an extra $50 on self sensing wiper blades

NukeWorker · #5 (**permalink**) 03-27-2008, 06:58 PM

Firts Carlyle went kaput, then Bear Stearns, and today Lehman Brothers got rocked. We have had 2 projects out for bid in the last 2 weeks where Carlyle was providing the financing to the developers. As a contractor on the lower end of the feeding chain, do you bid them or not?
I think demo contractors get screwed with liens because you can only lien the property. You already tore the major asset down.

**James** · #6 (**permalink**) 03-28-2008, 07:48 AM

Don't forget, we're the first ones in and seems like the last ones to get paid.