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Union-Tribune sold cheap to Platinum Equity
The Yankee scam was particularly distrubing b/c they took away PUBLIC PARKS, from kids, as the land where they built the new Ynakee stadium.— April 2, 2010 10:59 p.m.
County's Job Loss One of Worst in U.S.
If you haven't seen this photo gallery, I found it mind blowing. Detroit has lost half of its population since the 1950's. It has horrible unemployment and cannot sustain itself. =============== Man, I had posted those pics here wheen they first ran in the Detroit Free Press, and I could NOT find the link-thanks for posting those-I am going to put the link in my favorite places. When they ran those pics, a year or two ago, the U-3 UE rate in Detroit was 24%, and I know it has gotten worse since then. That means the REAL UE rate is about 48%, at least. And I have been to Detroit in the last few years and it is a mess.— April 2, 2010 9:39 p.m.
County's Job Loss One of Worst in U.S.
Paul, At one time, San Diego was the leading fishing port in the United States. In 1950 there were 200 boats supplying six local canneries with $30,000,000 worth of tuna. =============== You know what is funny-I spent most of this week at Shelter Island, and they have the Tuna Memorial right there, and as always I like to look at it, read the names of the people who died doing their job. I had a friend whose entire family was from the San Diego tuna industry and he would tell me stories about the tuna runs (he has family listed on that memorial). There were, as you said, a number of canneries throughout the bay. As you drive over to Mission Beach there is a left turn to go to the Hyatt Islandia, and once you make the left there is a little fish/seafood restaurant there on the left called "Sportsman’s Seafood", and there was a tuna cannery right there. Closed down in the 70's. The family that owns Sportsman’s was a tune fishing family . San Diego was the tuna capitol of the world before the waters were over fished. If anyone has a chance to speak to someone who were a part of that industry it is a very interesting history.— April 2, 2010 9:31 p.m.
County's Job Loss One of Worst in U.S.
In 1962 General Dynamics employed 60,000 workers in San Diego. By Burwell ========================== Thanks for that info B. You know what-that number just boggles my mind. How could we have fallen this far????— April 2, 2010 9:22 p.m.
Union-Tribune sold cheap to Platinum Equity
Even back in 1996, Paul Allen was a billionaire. Allen purchased an option to buy the Seattle Seahawks. He said he would pay $250 million for the team ================================= Paul Allen bought the Seahawks from a guy named Ken Berhing, who was the developer of Blackhawk, one of the most upscale and expensive country clubs in the nation. I remember Berhing built what was then (78 or 79) the biggest house in the county (at the time), a 10K SQFT home named "Xanadu", with a 2K sq ft master bathroom. Then some other millionaire built a 20K sq ft home, so Berhing then built a 40K sq ft home with a 30 car subterranean garage (all in Blackhawk). I have read numerous accounts of what Berhing paid, but the one I heard most often was $25 million. Goes to show you how the pro sports scam has really blossomed. Blackhawk also had a very upscale retail shopping center, about 100K sq ft, and it flopped big time.— April 2, 2010 9:21 p.m.
County's Job Loss One of Worst in U.S.
Ryan was bought out in the 80's, but do not recall the exact date. GD may have some sort of presence but they shut down their entire KM campus, which accounted for so many good jobs it is unreal. The high tech jobs started arriving fairly recently-hopefull they will pick up some of the slack.— April 2, 2010 8:39 a.m.
Frye Thwarts Preposterous Proposed Ballot Language
Obviously, the mayor tried to sneak the language in there to sway the voters falsely. ============================== Business as usual for good old KFC Sanders. This is the guy who said he was going to fix the budget while not raising taxes.....unless you call "fee increases" not raising taxes he is pretty much a big fat liar. Oh, and our budget deficit is $180 million and getting worse every single day Sanders sits in office. And has anyone seen a picture of Sanders recently???? He must hit the scales at over 300#-easily. He is so fat he must have his suits custom made-no way you could put his large and round body into an off the rack suit. I wonder if he has ever heard the two words 1) diet or 2) exercise????? Me thinks not. He is at risk for a heart attack/disease from his obesity.— April 1, 2010 10:33 p.m.
SD Landlords Doing Fine
Ms Grant is now a real etstae expert-who knew????? The defense contracts from the 90's were much more concentrated in the LA area, not San Diego. As for who buys REO properties, it depends on the property type. There are very few/no speculators in the SFR REO market after a crash because there is no financining for speculators (which is what drives prices in a bubble in the first place). Investors who have cash may buy investment properties-retail, office, industrial, apartments-but not SFR because speculators cannot "flip" the SFR properties in a down market. Commercial investment properties are a buy and hold until the market returns and the properties have an income/cash stream that can increase the CAP rates.— April 1, 2010 9:51 p.m.
County's Job Loss One of Worst in U.S.
I may have been off on the manufacturing side-but I still say LA and Maricopa are probably much more diversified economies when compared to San Diego. 20 years ago we had a huge aerospace industry. We built Tomahawk Missiles here. General Dynamics, Ryan Aeronautical. Those companies are long gone. The jobs they produced we 10 times better than the service sector tourism jobs we have that dominate the county today.— April 1, 2010 9:43 p.m.
SD Landlords Doing Fine
I find this a little odd, only because there is so much REO sales activity, which would tend to drive down rents/GRM/CAP rates and everything else. I will talk to one of my apartment broker buddies and ask him how the market is going. I rememebr when we had the last bad downturn in the early 90's we saw apt rents drop as much as 50% in some of the not so desireable areas (93-95 1bed/1ba City Heights dropped from $550 to $325).— April 1, 2010 6:38 p.m.