More on Real Estate

I was waiting for my rental car at the counter this afternoon when I overheard one of the clerks talking to another about how she had bought a 6 bedroom / 4.5 bath house for $600,000 because she could turn around and sell it for $800,000.

The end (of the real estate boom) is near!

When people start thinking that they can make a guaranteed 33% profit (I don't know what timeframe she was thinking about, but I'm sure it was as ridiculously short as the gain was ridiculously large), it is time for sensible investors to stay clear of real estate. This is definitely starting to sound too much like the irrational exhuberance regarding stocks in 1999-2000 for my comfort.

Most Successful Business Leaders?

Lessons from the Top: The 50 Most Successful Business Leaders in America by Thomas Neff and James Citrin

This book includes two convicted felons and one accused felon - Bernie Ebbers, Dennis Kozlowski and Ken Lay - as well as Hank Greenberg (who resigned from AIG in disgrace and may yet become the fourth felon in the book), Michael Eisner (who was recently ousted from Disney) and Mike Armstrong (who pretty much single-handedly managed the sinking of AT&T).

Now I know that hindsight is 20/20, but six stinkers (and some other questionable choices) in a list of 50?

A great read, highly recommended ... for the IRONY!

SBC Acquisition of AT&T Closed

SBC Communications announced today that it has closed the books on its $16.9 billion acquisition of AT&T immediately following its receipt of final regulatory approval.

It is worth noting that the new company going forward will use the AT&T name, iconic blue and white logo, and NYSE stock symbol (T).

Cisco buys Scientific-Atlanta in $6.9 billion deal

Source: Yahoo

Koch Industries buys Georgia-Pacific in $21 billion deal

Georgia-Pacific stock rose more than 36% to $47.28 in trading yesterday — close to the price offered by Koch.

Source: AJC