08/10/07 11:35 - 71ºF - ID#40473
tribute to kookcity2000
(Sorry for the poor photo quality, it was taken with an old cell phone.)
In other, more disturbing news, looks like (e:joshua,40409) 's post on Jim Cramer's freakout session a week ago was rather prescient.
On Wall Street, the Dow Jones Industial Average was down nearly 200 points after the first hour and a half of trading on a day that was expected to add to Thursday's 387-point drop. Though still up for the year, Thursday's decline was the second-worst of the year and knocked nearly three percent from the index's value. Other U.S. indexes were down as well...
It was much the same overseas, as benchmark indexes across Asia and Europe shed upwards of three percent on Friday. Japan's Nikkei 225 lost 406 points, a decline of 2.37 percent, while the Hang Seng Index in Hong Kong lost 2.88 percent.
Europe followed suit: near the end of the trading day, London's FTSE 100 had fallen 184 points, a decline of nearly three percent; France's CAC 40 was down around three percent and Germany's Dax 30 had shed nearly 1.4 percent.
To calm the markets and meet a surge in demand for cash, central banks on Friday continued pumping money into the financial system -- adding to the more than $150 billion that authorities in the U.S. and Europe released on Thursday...
"What we have at the moment is just an all-around sense of panic," Marc Ostwald, a bond analyst at Insinger de Beaufort in London, told the Associated Press. "Quite clearly there's a lot of deep-seated fear out there and it's going to take a while to resolve this."
The sell-off overseas represents the expansion of a problem first glimpsed through rising default rates for U.S. home mortgages -- particularly among riskier "subprime" loans to less creditworthy borrowers. It has evolved into a global credit crunch, with borrowing costs for corporations and global dealmakers on the rise, and investors urging policymakers to help.
Permalink: tribute_to_kookcity2000.html
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08/07/07 04:27 - 79ºF - ID#40428
Letchworth Hike, 08.04.07
Here are some photos, mostly taken by chica. If you haven't been to Letchworth, go. It is a beautiful park.
trailhead
thanks random Asian tourist for taking this shot!
perched turkey buzzard that chica snuck up on
random trash i picked up--people are such savages...is it so hard to understand "pack in, pack out"?
Permalink: Letchworth_Hike_08_04_07.html
Words: 136
Category: food
07/26/07 11:49 - 78ºF - ID#40261
Burgers at Sterling Place Tavern
- Fantastic* hamburgers and good draft beer at Sterling Place Tavern on Hertel Avenue.
Had heard the burgers were "best in the city" and beyond, and while I've had some fine burgers here in B-lo, I'm inclined to agree. The burgers are big, thick, juicy (well, mine was medium-rare, but even medium-well looked juicy to me) and utterly delicious. (sorry, no pic)
Service was a bit slow at times, since there was just one bartender to cope with a modest bar presence and probably 7-8 tables of people ordering drinks and/or food, but the bartender was nice and apologetic, and the owner, John, was very personable and pleasant.
Beers on tap included some of the Great Lakes Brews out of Cleveland ("Eliot Ness" and "Burning River"), Newcastle Brown Ale, Flying Bison's Oatmeal Stout, a fine wheat beer or two, Stella Artois, Pilsner Urquell, and two or three other brews I'm forgetting.
Anyway, it's not much to look at from the outside, and the service may be slow, and (rumor has it) that the tavern is sometimes closed on non-obvious nights (Friday, Saturday) for seemingly no good reason, but if you're on Hertel Ave and have a ravenous appetite and a hankering for red meat and good beer, check out the Sterling Place Tavern. If it's open, get your butt in there and ask to order up a tasty burger.
Yum.
also, thanks to my partners in crime, Amy M and Ami... :-)
Permalink: Burgers_at_Sterling_Place_Tavern.html
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Category: buffalo
07/12/07 03:39 - 76ºF - ID#40082
one more reason to love Buffalo
Yes, you read that correctly, $225,000 for a PARKING SPOT.
I know there are some days in early February in Buffalo, after driving around the neighborhood for 30 minutes looking for an open space, when we'd all consider paying through the nose for a spot.
But $225,000????
I know it's Manhattan and all, and you just can't beat New York City, it's an amazing city, yadda yadda yadda.
But $225,000? Really? Really??
Here's what $225,000 will get you in B-lo today:
293 Highland Avenue (near Norwood)
Victorian 4 bedroom house, 2 full baths, 2760 sq ft
w/deck, fully fenced yard, 7-person hot tub, shed, porch, fireplace, full attic and basement, driveway (aha! parking space included!), laundry room, inlaid hardwood floors, pocket doors.
(MLS# 287216)
New York City is fine, but you gotta love Buffalo!
Permalink: one_more_reason_to_love_Buffalo.html
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06/20/07 02:56 - 71ºF - ID#39741
bag it
I'm of two minds on this issue (yeah, I always have this problem, there are too many shades of grey in this world). On the one hand, the plastic bags are often strong and can provide multiple uses before having to be discarded, and are usable for trash bags, etc. When I go to Wegman's and am asked whether plastic is OK, I almost inevitably assent. The fact is, I'm used to using them and don't have a good substitute for them in terms of household re-use.
On the other hand, as the article notes, the environmental consequences of ubiquitous plastic-bag use are substantial and discouraging. Sea animals choke on them, ingest them and have potentially fatal reactions to the plastic in their system, the bags typically are not easily degradable and will clog landfills for generations, etc. And to boot, they are petroleum-based, so they only prolong and worsen our dependence on oil.
One thing is for sure -- I don't think government action is the key to a positive change. Apparently in Ireland they imposed a tax on the bags, and use of them has plummeted. Effective, perhaps, but I don't think the US and especially WNY needs yet another tax. Rather, it would be spendid if folks would just start using more permanent canvas totes or nylon backpacks to carry their groceries. Unfortunately, I'm skeptical about thie prospects of this. I know that there is a dedicated minority out there who already use permanent bags, and that almost certainly includes some enlightened (e:strip)pers. But I just doubt that the majority of folks want to lay out even a little cash to buy those non-disposable Wegman's mesh bags, the Co-op canvas totes, or other stores' equivalents. (Is Tops offering a more permanent alternative as well? Haven't been in a while.) And I think that folks (myself included) who do try to use a permanent bag will lapse and forget and probably laze their way back into using the ultra-convenient plastic ones.
Apart from resolving to do a better job of avoiding plastic bags myself, is there something I should be doing to reduce the negative impact of these little buggers?
Perhaps I should buy the women in my life this product?
Permalink: bag_it.html
Words: 425
Category: health
06/18/07 10:43 - 71ºF - ID#39716
being injured sucks
Naturally , just when I was starting to feel good about distance running, I get a repetitive stress injury. So, running 15-18 miles per week was great for cardiovascular health, physical endurance, weight control, and my mental health, but now it seems it has also sowed the seeds of its own demise. That is, the primary treatment for patellar tendinits ("jumper's knee" -- sort of like tennis elbow only in the kneecap area) is rest -- so I have to avoid the running that brought on the annoying affliction in the first place. This is KILLING me because the good weather makes me want to go tool around Delaware Park, but I can't, because I'll aggravate the knee and worsen/prolong the injury. I'd love to run in a 5k or 10k race, but that's a bad idea for at least a few weeks. (aaarggh!) And, interestingly enough, this type of injury is resistant to typical anti-inflammatories, so drugs won't help all that much. Yay! I so love being injured.
I know this is really no big deal in the grand scheme of things, but I needed to vent. :-P
On the bright side, I'm going to see Social Distortion at Town Ballroom in July. :-)
Permalink: being_injured_sucks.html
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Category: death
04/24/07 12:48 - 51ºF - ID#39024
Deathtroika this week
1. Boris Yeltsin, former president of Russia
2. David Halberstam, Vietnam-era journalist and author
3. ?????
Permalink: Deathtroika_this_week.html
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Category: tv
04/12/07 07:59 - 36ºF - ID#38869
Jeopardy!
Permalink: Jeopardy_.html
Words: 59
Category: hockey
04/08/07 09:38 - 29ºF - ID#38809
oh, it's ON, baby
All the more sweet because it sends Darcy Tucker, Mats Sundin, and the other Leafs packing. hehe
OK, so who's got first-round playoff tickets? :-D
Permalink: oh_it_s_ON_baby.html
Words: 103
Category: irritants
04/07/07 05:18 - 27ºF - ID#38788
the third sure thing in life...
Oddly enough, I received tax forms from Pennsylvania (I worked there in 2005, but not in 2006)... but not from New York (hello?!) and not from New Jersey (wtf?). Go figure.
So I've been printing tax forms for the last hour or so. It's almost as exciting as watching paint dry. Somebody kill me.
I could deduct some moving expenses but that would (I believe) mean itemizing my deductions, which I have never done before (no kids, no home ownership, no investments, etc.) and do not particularly feel like doing for the first time this weekend or next.
It is ironic that I hound my students about not procrastinating when it comes to papers and studying for exams, and here I am filing my taxes during the last 10 days before the deadline. I made my bed, now I gotta sleep in it.
FFFFFFFFFFfffffffffffffffffffffffffffffff
Permalink: the_third_sure_thing_in_life_.html
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Here's my dumb question, but I haven't had economics since high school, and I really don't know.
When the fed puts money into the bank system, how does it do that? Does it just give them money? What money goes where? Is it through loans? If so, how?
Its interesting that none of this stuff came to light until Cramer freaked out on national TV. Its not like this stuff came up out of the blue!
The Fed tried to pump $24B into the bank system in an attempt to calm the fear, but it didn't work. They have been ignoring the deflationary nature of our market to fight inflation... and in a fit of irony dumped billions into the system on a "temporary" basis? No wonder nobody bought it.
The private equity firms - screw them. They made their bets and losing money is part of the risk. They were hedging their risky bets by buying a lot of this mortgage debt, which is why they are screwed. To make things worse, the credit problem makes it so they cannot borrow any more money. I'm with Cramer when he says that the equity firms should not be bailed out for making bad bets... but the people who are losing their homes? What about finding a way to have the government guarantee these variable loans so that people don't lose their homes, as a result of fluctuations in the market they can't control?
Another thing people talk about is the potential failure of several banks if this problem isn't straightened out, but if you look at the reaction of the world markets they seem to believe that this is a bit of a snowball thats beginning to gain momentum down the hill. I heard a rumor about an "emergency" Fed board session to potentially lower the rate. We'll see.
I saw an interview with Cramer that he did the same afternoon after his meltdown, and he explained that he felt obligated to speak up because nobody else would... and also said that he wouldn't be able to live with not saying anything about what he thought was not an "if" but a "when" kind of scenario.