Many have by now heard or read the story of the plucky group of Hawaiians on the island of Kauai who, when faced with the loss of their businesses due to the state government’s inability to open park roads to a popular beach and camping area, took care of it themselves for a fraction of the cost and in a fraction of the time. How very Tocquevellian. Or, better, how very American. read more »
During the first ten days of October 2008, the Dow Jones dropped 2,399.47 points, losing 22.11% of its value and trillions of investor equity. The Federal Government pushed a $700 billion bail-out through Congress to rescue the beleaguered financial institutions. The collapse of the financial system in the fall of 2008 was likened to an earthquake. In reality, what happened was more like a shift of tectonic plates.
History will record that the tectonic plates of our financial world began to drift apart in the fall of 2008. The scale of this change may be most evident in housing.
PART TWO – THE HOME BUILDERS read more »
Nobel Prize-winning economist Paul Krugman was quoted widely for saying that the official recession will end this summer. Before you get overly excited, keep in mind that the recession he’s calling the end of started officially in December 2007. Now ask yourself this: when did you notice that the economy was in recession? Six months after it started? One year? read more »
LONDON - The thrashing of Britain's New Labour Party – which came in a weak third in local and European Parliament elections this week – may seem a minor event compared to Barack Obama's triumphal overseas tour. Yet in many ways the humiliation of New Labour should send some potential warning shots across the bow of the good ship Obama. read more »
“Paint the world white to fight global warming” was the astonishing headline from The Times of London. The paper was referring to a presentation made by United States Secretary of Energy, Dr. Stephen Chu at the St. James Palace Nobel Laureate Symposium last week. Chu was reported as saying that that this approach could have a vast impact. read more »
“Man is the only kind of varmint who sets his own trap, baits it, then steps in it.” — John Steinbeck
Though probably not intended as a political commentary, Steinbeck’s utterance perfectly describes the current California budget crisis. And, given the revenue and service delivery relationship between cities and the state, traps can be set and baited in Sacramento, leaving mayors, city councils and city managers to step in them. read more »
Dionne Warwick posed the question more than 40 years ago, yet most Americans still don’t know ‘The way to San Jose’. Possessing neither the international cachet of San Francisco nor the notoriety of Oakland, San Jose continues to fly under the national radar in comparison to its Bay Area compatriots. Even with its self-proclaimed status as the ‘Heart of Silicon Valley’, many would be hard pressed to locate San Jose on a map of California. read more »
The site plan logically should be the key to approval of a development project. Yet in reality, the plan is secondary to the presentation. My conclusions are based upon experience with well over a thousand developments over four decades, most in the mainland USA. And what I’ve observed is that the best site plan is only as good as the presentation that will convince the council or planning commission to vote “Yes” on it. No “yes” vote, no deal, no development. read more »
United States Secretary of Transportation Ray LaHood and Washington Post columnist George Will have been locked in debate over transit. Will called LaHood the “Secretary of Behavior Modification” for his policies intended to reduce car use, citing Portland’s strong transit and land use planning measures as a model for the nation. read more »
This month, the Obama administration moved to regulate the so-called ‘invisible’ financial instruments that have come to rule the world of finance. Variations of the ‘shadow’ banking system — or, in the preferred language of financiers, market ‘risk management tools’ — have increasingly taken the spotlight during the current crises. read more »