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rffrydr
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Joined: 30 Oct 2005
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Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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rffrydr
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Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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 Posted: Mon Jun 14, 2010 3:44 pm Post subject: |
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Anyone used to the drive 5 north knows this property:
Tim Melvin
Tejon Ranch Bouncing Off Lows
6/14/2010 1:58 PM EDT
| Quote: | | I see on my weekly list of new 52 week lows that shares of Tejon ranch are bouncing off a 52 week low. I know real estate, especially California real estate is distressed but as Steve Goddard of the Touchstone Small Cap Core Fund told Gregg Greenberg on the Street.com a few weeks ago the current price value Tejon's real estate at less than $2000 an acre. That is incredibly cheap for land on a major highway less than 50 miles from Los Angeles. Long term investor should consider the stock at current levels for a long term play on the eventual recovery of the California market. It may well go lower in the near term but I am willing to bet the stock is at least two times higher in five years. |
It's too far and on the wrong side for an easy commute. And tract homes are soooo out of fashion. It's not going to be warehouses or burger joints either. And the casinos are south and east--lot's of 'em. Prime land nonetheless and probably committed to prime beef foreseeable. Now that high-speed train that the FEDs want to fund makes things a little more interesting.
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rffrydr
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Posts: 13138
Location: Sunny California
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| Posted: Sun Jun 13, 2010 6:10 pm Post subject: |
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That these are "utilities" makes you wonder about our new "utility" model of very large corporations. Put more politics into the corporation; get more politics out of the corporation:
http://www.latimes.com/business/la-fi-hiltzik-20100613,0,770126.column
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rffrydr
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Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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| Posted: Tue May 04, 2010 2:40 pm Post subject: |
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Tom Graff
California CDS
5/4/2010 4:11 PM EDT
Forgot to mention, California CDS got crushed today, 20bps wider. Should we start calling it the Spanish correlation trade?
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rffrydr
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Location: Sunny California
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rffrydr
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Location: Sunny California
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 13138
Location: Sunny California
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| Posted: Mon Apr 12, 2010 4:50 pm Post subject: |
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The last to know is learning slowly:
http://www.sacbee.com/2010/04/12/2671398/state-tax-revenues-show-uptick.html
| Quote: | ... sales tax collections have increased by more than $2 billion this fiscal year.
At the same time, personal and corporate income tax payments are still down by $1.2 billion from a year ago, even with higher tax rates approved by the Legislature. |
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HenryTo
Site Admin
Joined: 06 Aug 2004
Posts: 9723
Location: Houston, Texas & Los Angeles, California
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| Posted: Tue Apr 06, 2010 10:25 pm Post subject: |
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Los Angeles finally forced to cut back:
http://latimesblogs.latimes.com/lanow/2010/04/villaraigosa-calls-for-shutting-down-some-city-departments-amid-budget-crisis.html
| Quote: | Los Angeles Mayor Antonio Villaraigosa called Tuesday for all city agencies -- except for police, other public safety and revenue-generating departments -- to close for two days a week starting April 12 because of the city's continuing budget crisis.
"We have to act, and we have to act quickly," Villaraigosa said at a press conference.
The mayor said he would direct the city's chief administrative officer to immediately begin planning to set the shutdown in motion. |
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