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New York, 8:38 PM
Sat Nov 28
9 posts in the last 24 hours

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  • posts about #labordisputes more →

    Thomas Friedman Enrages the Proles of the Globe

    Sit-in Factory Finds Buyer

    Jay Leno Faces Surprise Suspension Threat

    Chicago Sit-In Actually Wins

    Obama Supports Workers Seizing Control of Means of Production

    Tina Fey Welcomes You Back To Glorious Scripted Television

    Writers Strike Still Not Actually Over

    Writers Strike End Talking Points: Everyone Lost

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    Dsmvwl  Admin  Promote to frontpage Approve user Ban user ×
    Image of gawkimo gawkimo
    05/28/09

    In reply to Thomas Friedman Enrages the Proles of the Globe
    Friedman is a modern day Medicine Show pitchman. He's much funnier if you picture him in a bowler's hat and a late Victorian two-piece walking suit (a size too small), then set him up with a cart full of heroin elixir and a mule and there you go.


    Now replace "heroin elixir" with the phrase "global neoliberal economic policy" and the metaphor is complete.

     Reply
    gawkimo was starred gawkimo was unstarred
    Image of lawyergay lawyergay
    05/27/09

    In reply to Thomas Friedman Enrages the Proles of the Globe
    Damn. I was hoping that mustache bait might have lured one PopeJohnPeeps onto the thread...oh, well.
     Reply
    lawyergay was starred lawyergay was unstarred
    Image of If_I_Had_a_Poodle If_I_Had_a_Poodle
    05/27/09

    In reply to Thomas Friedman Enrages the Proles of the Globe
    "the moustache of underSunday, April 19, 2009



    The Mall Is Flat


    It's important to remember that as with General Growth Properties, some retailers and other businesses didn't go under simply because sales dropped a bit and suddenly they weren't making any money. They went under because they amassed immense amount of short term debt which they thought they could just keep refinancing until the end of time. The economic downturn exacerbated this, but a big issue has simply been the increased difficulty in refinancing.


    General Growth Properties Inc.'s decision to file one of the biggest Chapter 11 bankruptcy cases in U.S. history Thursday resulted from its inability to refinance mounds of debt, taken on during a rapid expansion, when credit markets crumbled...The Chicago-based company, which is master developer of Columbia and owner of most of the Baltimore area's regional malls, amassed $27 billion in debt by buying malls and shopping centers. Much of that debt came with its acquisition of Columbia's Rouse Co. in 2004.


    Your view of the financial crisis probably depends on whether you think the state of affairs which allowed GGP to borrow to expand so much is the good and normal one, and the drying up of credit to companies like them a temporary aberration, or if you think that cheap money for everyone all the time regardless of ability to repay is problematic.


    Loans were given out without concern for repayment ability because refinancing was always an option.

     Reply
    If_I_Had_a_Poodle was starred If_I_Had_a_Poodle was unstarred
    Image of If_I_Had_a_Poodle If_I_Had_a_Poodle
    05/27/09

    @if_i_only_had_a_heart: sorry ... didn't include the url and the intro


    [www.eschatonblog.com]


    the mall is flatt and little tommy is brokey brokey; ggp is where the wife's money comes from

     Reply
    If_I_Had_a_Poodle was starred If_I_Had_a_Poodle was unstarred
    Image of Baroness Baroness
    05/27/09

    In reply to Thomas Friedman Enrages the Proles of the Globe
    That 'stache pic.. I haven't seen a leering womb-broom like that since a revival screening of Serpico when I was on acid. Thanks, Pareene.
     Reply
    Baroness was starred Baroness was unstarred
    Image of ADismalScience ADismalScience
    03/02/09

    In reply to Sit-in Factory Finds Buyer
    Here's the problem: Serious Materials looks like it's purchased a bunch of these companies. They've been collective venture capital and granola-bait awards, but they haven't released financials. There's not much of an indication that this place is profitable or plans on being so soon.


    [www.seriousmaterials.com]


    [venturebeat.com]


    It looks like your classic California investment black hole, which means all those happy people were probably just cashiered as a PR stunt for more venture capital/federal funding.


    Basically, these guys are living on credit lines and investor money making products for houses we aren't building based on promises of a future green market that hasn't materialized.

     Reply
    ADismalScience was starred ADismalScience was unstarred
    Image of LucilleMcGillicuddy LucilleMcGillicuddy
    02/11/09

    In reply to Jay Leno Faces Surprise Suspension Threat
    Wow! It only feels like he has been on the air for 500 years!
     Reply
    LucilleMcGillicuddy was starred LucilleMcGillicuddy was unstarred
    Image of Private Hangnail Private Hangnail
    02/11/09

    In reply to Jay Leno Faces Surprise Suspension Threat
    Would the fact that everything he's ever written has been tediously unfunny help or hinder his case?
     Reply
    Private Hangnail was starred Private Hangnail was unstarred
    Image of MincnglyWhrdL'mer MincnglyWhrdL'mer
    02/11/09

    In reply to Jay Leno Faces Surprise Suspension Threat
    At least the time didn't go to reality shows, guys. Those programs barely even have writers.


    oh my. when unions attack - themselves

     Reply
    MincnglyWhrdL'mer was starred MincnglyWhrdL'mer was unstarred
    Image of noUpside noUpside
    12/09/08

    In reply to Chicago Sit-In Actually Wins
    hey, let's insist that banks extend credit to ALL insolvent business with failed business models! and let's replace all traditional standards for lending criteria with feel-goodism, provided it's politically expedient! i feel sorry for those workers, but this is a bad precedent to set.


    dealbreaker offered this excellent analysis yesterday:

    [dealbreaker.com]

     Reply
    noUpside was starred noUpside was unstarred
    Image of Pareene Pareene
    12/09/08

    @noUpside: hey, let's pay workers what they are required to be paid by federal law! and then let's go fuck ourselves because we're assholes!
     Reply
    Pareene was starred Pareene was unstarred
    Image of it takes a lot to laugh it takes a lot to laugh
    12/09/08

    @noUpside: You're just assuming that B of A was using traditional standards for lending instead of the hide-the-money-under-the-mattress standards banks have been using despite having received a federal bail-out. Why you would continue to have faith in bankers doing the right thing is beyond me.
     Reply
    it takes a lot to laugh was starred it takes a lot to laugh was unstarred
    Image of noUpside noUpside
    12/09/08

    @it takes a lot to laugh: this is a company that makes windows and doors for newly constructed homes. what is the likelihood that they are profitable enough right now to meet their obligations to their creditors? it has nothing to do with faith in bankers.
     Reply
    noUpside was starred noUpside was unstarred
    Image of it takes a lot to laugh it takes a lot to laugh
    12/09/08

    @dunzo: Their sales are down. That doesn't mean they have to close. I've heard nothing that says they can't pay their bills in the normal course if they have access to a line of credit on standard credit terms.
     Reply
    it takes a lot to laugh was starred it takes a lot to laugh was unstarred
    Image of it takes a lot to laugh it takes a lot to laugh
    12/09/08

    @it takes a lot to laugh: Lines of credit is what get companies through tough times.
     Reply
    it takes a lot to laugh was starred it takes a lot to laugh was unstarred
    Image of Sargasm Sargasm
    12/09/08

    In reply to Chicago Sit-In Actually Wins
    I'm targeting McDonald's with my sit in. All I'm asking for is the recipe for Special Sauce.
     Reply
    Sargasm was starred Sargasm was unstarred
    Image of Clarknt67 Clarknt67
    12/09/08

    @Sargasm: PSST! It's 1000 Island dressing!
     Reply
    Clarknt67 was starred Clarknt67 was unstarred
    Image of Sargasm Sargasm
    12/09/08

    @Clarknt67: What?? I guess I can now move forward with my quest to discover the 11 secret herbs and spices.
     Reply
    Sargasm was starred Sargasm was unstarred
    Image of Iceland Spar Iceland Spar
    12/09/08

    In reply to Chicago Sit-In Actually Wins
    Right up until the workers actually leave the factory. At which point they will be seized by Pinkertons shouting HOAX!!1!
     Reply
    Iceland Spar was starred Iceland Spar was unstarred
    Image of mfnher mfnher
    12/09/08

    In reply to Chicago Sit-In Actually Wins
    Opportunity knocks.
     Reply
    mfnher was starred mfnher was unstarred
    Image of BullfightsOnAcid BullfightsOnAcid
    12/09/08

    In reply to Chicago Sit-In Actually Wins
    Now there's hope for the Justice League.


     Reply
    BullfightsOnAcid was starred BullfightsOnAcid was unstarred
    Image of iplaudius iplaudius
    12/09/08

    In reply to Chicago Sit-In Actually Wins
    Wow. Congrats! Also? Great PR for B of A.
     Reply
    iplaudius was starred iplaudius was unstarred
    Image of Zanzibar Buck-Buck McFate Zanzibar Buck-Buck McFate
    12/09/08

    In reply to Chicago Sit-In Actually Wins
    Between this and the "Wide Stance" news today, there is some justice.
     Reply
    Zanzibar Buck-Buck McFate was starred Zanzibar Buck-Buck McFate was unstarred
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