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Wall Street is feasting off Main Street’s pain
The loan modification programs that were designed to keep homeowners in homes they could not afford to buy is also impeding the economic recovery. Homeowners who pay 75% of their income on mortgage payments are homeowners who cannot buy new cars, eat in restaurants, or spend money to support the economy. The government needs to clean the economic deadwood out of the housing market and put these homeowners in rentals so they have money to support themselves and the economy. It makes no sense for a homeowner to make a $5,500 per month mortgage payment on a house the homeowner could rent for $2,500 per month. The homeowners inability to spend the $3,000 per month differential between mortgage and rent is stifling the economic recovery.— January 17, 2010 9:39 a.m.
Wall Street is feasting off Main Street’s pain
Forcing the banks to loan money at this point will only delay the economic recovery. Poorly capitalized small businesses are a drag on the economy right now, particularly in San Diego. These businesses limp along month after month selling products and services at a loss, endangering the finances of well-managed and capitalized small businesses who are forced to meet their pricing. This is a major reason why the economy will not revive. If these losers are given loans, they will use the proceeds to continue to operate their businesses at a loss until they cannot obtain more loans. These businesses are going to go under anyway, regardless of whether they receive loans or not. Granting loans to these businesses is like flushing money down the toilet. Obama is doing the right thing: attacking the banks publically for not loaning money while quietly supporting the Fed's efforts to strangle these businesses by denying them loans.— January 17, 2010 9:24 a.m.
U-T Owner Takes Loss on Industrial Building
It may not be legal to convert underground parking to storage space. Buildings are zoned for specific numbers of parking spaces, and converting parking spaces to storage may require City approval.— January 16, 2010 10:41 a.m.
U-T Cites Improvement, May Hire 25 Part-Timers
I highly doubt Bauder had access to underground parking while he worked at the U-T. Herb Klein would not even permit Bauder to have a key to the Executive Washroom.— January 16, 2010 10:25 a.m.
San Diegans Leading Push for AIG Full Disclosure
It looks somebody set up a website to smear Johnston. http://davidcayjohnstonwatch.blogspot.com/— January 14, 2010 9:09 p.m.
Hedgecock Dropped by Los Angeles Station
Harold Keen and Ray Wilson used to anchor the KFMB newscast from at least the late 1950s until the early 1970s. KFMB hired consultants who said Keen and Wilson were too old to appeal to the target age demographic, so both were removed from their anchor positions and replaced with fashion models. Their removal caused a brief public uproar. Keen was allowed to broadcast a show called Telepulse which appeared on Saturdays at 11:30 pm. Telepulse was a great show and Keen tackled many controversial issues that the regular media would not touch. Keen was a great journalist, no doubt about it.— January 14, 2010 8:02 p.m.
Hedgecock Dropped by Los Angeles Station
Except for Pat Michaels, who was on late night in the mid 60s on KCBQ. He was a Morton Downey Jr.-type guy. ======= I remember a radio talk show that ran in San Diego from the late 1960s to the early 1970s, maybe longer. I can't recall the host's name, but the show was broadcast at nite from the Starlight Room at the El Cortez Hotel.— January 13, 2010 7:22 p.m.
Hedgecock Dropped by Los Angeles Station
As good as Roger may be, no one can compete with the PM drive team of John & Ken on KFI AM 640. ======== When Roger's show went national I lost interest in listening, and switched to John & Ken on KFI AM 640. KFI's signal is San Diego is very high. Roger's show was interesting when it covered local topics, but his attempt to ape Rush Limbaugh's show by going national and removing local content has been a miserable failure. Roger doesn't have the heft or weight to host a national show. His radio voice is marginal at best. I predict his national show will fold shortly, KOGO-AM will drop him, and he will be forced to find another radio station in San Diego to host his show. He will also take a severe cut in pay.— January 11, 2010 10:29 p.m.
U-T Owner Takes Loss on Industrial Building
Platinum is going to erect a Circus tent in the parking lot of U-T headquarters in Mission Valley to house the pre-distribution center.— January 9, 2010 9:46 p.m.
San Diegans Leading Push for AIG Full Disclosure
I think Aguirre is using the FOIA lawsuit as leverage to force AIG to settle his case in Los Angeles Superior Court. If Aguirre convinces the Judge to uphold his FOIA suit, AIG and Treasury will likley offer a substantial financial settlement in the LA case to keep the records out of the public realm. The release of these records would ignite a public firestorm and lead to the appointment of a special prosecutor. Aguirre proves once again that he's an extremely cunning lawyer. I predict that he will obtain a substantial settlement and the FOIA records will not be released.— January 9, 2010 9:40 p.m.