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House Price Crash Forum


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Everything posted by Scooter

  1. Two days of opportunistic looting and you feel vindicated? Come back in 5 years and see if it is still happening, then you might have an argument...
  2. Owner Rig/Equipment Status Value Insurance Comments Diamond Offshore Ocean Warwick Aground $14MM $50MM On Daupin Island, AL. Significant damage. Diamond Offshore Ocean Voyager Drifting 9 miles north Transocean Deepwater Nautilus Drifting $700MM Drifted during Ivan too Rowan Rowan-New Orleans Sunk? $7.4MM $8.5MM Other 21 rigs appear ok Royal Dutch Shell Mars Platform Damaged $1.0BB Produces 220K barrels/day = 15% U.S. Gulf output Nobles Energy Jim Thompson Drifting $142MM Drifted 17 miles north. No material damage. ENSCO ENSCO 7500 Drifting $500MM Was listing slightly, but no damage. ENSCO ENSCO 29 Damaged $15MM $7.6MM "Significant damage." Global SantaFe Development Driller I Listing slightly Global SantaFe Arctic 1 Aground near mouth of Mississippi River BP Thunder Horse Stable $1BB Self-insured Valero St. Charles Refinery Shut-down Damaged - No production for 1-2 weeks. PEMEX PSS Chemul Crashed into $70M AL bridge. Destroyed $4M barge. Swift Energy No damage. Surrounding areas = flooding/damage. Newfield "A" Platform Missing Other structures intact. Forest Oil South Pass 24 Damaged Aerial assessment showed damage. Plantation Pipeline No damage. No power though. PAA Pipeline Mobile Bay Dock Loss covered by insurance (subject to deductible).
  3. He is just wrong-about half a dozen were adrift, largest of which was owned by Diamond Offshore circa $310m, and are now being recovered by tugs. The implication that 20 rigs just disappeared bermuda Triangle style is just sensationalist rubbish I think...
  4. It would certainly then sound more credible and less conspiracy theory...
  5. Not that obvious to most people in my experience...
  6. Eric, Just curious, what business are you in? S.
  7. I can almost taste the coffee and beignets from the French Quarter coffee stand and I still have some "Osama Burn in Hell" Extra Hot Sauce from the market circa 2002. And their local drink is a Hurricane.... Time I went back!
  8. Aren't a lot of the cameras digital nowadays so no film involved?
  9. Not sure the French Quarter (old part of the city) has been the destroyed. the hurricane veered off and hit downtown instead. Have you been to New Orleans? I think it a great party town and not swamp like at all (normally!)
  10. Sadly fraud cases are long, complicated, expensive and have a low conviction rate compared to speeding cases that pay for themselves...the police as revenue generators!
  11. Yep, perhaps $25billion of possible insurance claims on their way...
  12. You could also try the FSA as you are trying to highlight a potentially huge mis-selling debacle. Its objectives are pasted below and indicate that it might tackle things by looking at the mortgage lenders and loose lending practices: Statutory objectives Corporate Social Responsibility The Financial Services and Markets Act gives us four statutory objectives: market confidence: maintaining confidence in the financial system; public awareness: promoting public understanding of the financial system; consumer protection: securing the appropriate degree of protection for consumers; and the reduction of financial crime: reducing the extent to which it is possible for a business to be used for a purpose connected with financial crime. These are supported by a set of principles of good regulation which we must have regard to when discharging our functions. The objectives also: provide political and public accountability. Our annual report contains an assessment of the extent to which we have met these objectives. Scrutiny of the FSA by Parliamentary Committees may focus on how we achieve our objectives; govern the way we carry out our general functions e.g. rule-making, giving advice and guidance, and determining our general policy and principles. So, for example, we are under a duty to show how the draft rules we publish relate to our statutory objectives; and assist in providing legal accountability. Where we interpret the objectives wrongly, or fail to consider them, we can be challenged in the courts by judicial review.
  13. You could copy it to the shadow chancellor George Osborne as well.
  14. Interest rates at zero like Japan in the 90's? That was a pretty interesting housing market, freefall for a decade or more I think....
  15. I doubt most people could do this. He is a very high earner. At some point in the future he may find out that the flat is worth a lot less than if he had dropped his asking price a bit and sold it now. There is also the lack of hassle when you move this way and not being in a chain allows you to negotiate a better deal with the person selling to you potentially. His theory is that if he holds it for long enough, it will regain whatever it loses, which may be right obviously given enough time. If he lost his job he might be in trouble of course because he has an enormous mortgage on the new place but I am hoping that does not happen to him. S.
  16. Saw a mate of mine last night who has been trying to sell his flat in Chiswick and buy somewhere bigger in the Chiswick or Acton area. He has all of the problems we have heard about, losing buyers for his place, putting in offers then getting cold feet and withdrawing on places that come to feel overpriced. But the interesting bit for me was that he has been pitching offers at a minimum of 20% off asking price. I was curious as to whether he was treated with contempt by the EAs and he said they had all taken him seriously and in fact he had had a couple accepted at this kind of discount, although so far without proceeding. I found that quite heartening as I generally expect EAs to belittle anyone making a "silly" offer, especially round me in North London. Not earthshattering but quite encouraging, to me anyway... S.
  17. Yep, my brother did this with his flat in Hampstead-on at a stupid asking price despite the agent assuring him of a quick sale-after a few months of few viewings and no offers. He now has the flat rented out (no idea what for) and a large house in Radlett. S.
  18. yep, virtually everyone I talk to about a possible crash has some magical reason why prices won't drop where they are. Very annoying! :angry:
  19. It's a sh$t business-you are best off out of it.
  20. I have already read about attacks on British owned property in Brittany by outpriced locals. That said, some greedy local had to sell it to them in the first place. The sellers all want cash laden british buyers... S.
  21. C in Chemistry O level 1982 but I did used to bring beers into the lessons...actually I am quite surprised I passed at all. S.
  22. Yep, last time I was recruiting-about 9mths ago-the graduates in politics, geography and the like from average but not terrible universities were mostly f$ckwits many of whom could not really string a sentence together, had not researched the job and could not give any coherent reasons why they wanted it. Standards are pretty low even for those who appear ok on paper with A grades all the way. S.
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