[Rhodes22-list] Economics

Fri Mar 23 11:51:26 EDT 2007

Typically lenders wanted you to bring 20% down and borrow 80%....if you 
didn't they charged you Private Mortgage Insurance. Now 100% financing is 
the rule with many programs in place to help you avoid PMI. Not to mention 
the Stated Income loans, "No Doc Loans", NINIA (No Income No assets)...there 
has been some crazy lending going on.

>From: "Rob Lowe" <rlowe at vt.edu>
>Reply-To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
>To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
>Subject: Re: [Rhodes22-list] Economics
>Date: Fri, 23 Mar 2007 08:53:10 -0400
>
>Wally,
>Clarification please.  Did you intend to say in the old days you needed 20%
>financing or 80% financing (20% down)? - rob
>
>----- Original Message -----
>From: "TN Rhodey" <tnrhodey at hotmail.com>
>To: <rhodes22-list at rhodes22.org>
>Sent: Friday, March 23, 2007 8:27 AM
>Subject: Re: [Rhodes22-list] Economics
>
>
> > Brad, You have been to be busy being a cheer leader for Bush to notice 
>our
> > economy is unbalanced. I told you several months ago that the mortgage 
>and
> > home industry was "a house of cards and heading for huge correction". 
>You
> > responded and said your home values are fine in Memphis .....
> >
> > The largest sub-prime lenders are in trouble and in the last 90 days 
>some
>30
> > mortgage banks have closed or pulled out of sub-prime lending. The other
> > shoe will drop when all the folks with low Interest Only payments, 
>balloon
>2
> > nds, or ARMs have to refinance and find they can not because they owe 
>more
> > than the home is worth. They will be stuck with a rising payment they 
>can
>no
> > longer make. The common trend in home buying has been 100% financing. In
>the
> > old days you needed to have 20% or so. Being upside down equity wise in 
>a
> > car is bad...evenworse when you are upside down in equity in you rhome.
>Many
> > folks are upside down in equity in their home and 2 car payments. Like i
> > said we are building anice house of cards.
> >
> > Do a google search for "sub prime lending woes".
> >
> > The leaders of companies like New Century maybe looking at jail time. 
>This
> > is tied into our overall economy in more ways than most understand.
> >
> > Wally
> >
> >
> > >From: "Brad Haslett" <flybrad at gmail.com>
> > >Reply-To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
> > >To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
> > >Subject: [Rhodes22-list] Economics
> > >Date: Thu, 22 Mar 2007 08:48:18 -0500
> > >
> > >Hunker down boys and girls and protect your investments - the sky isn't
> > >falling but we're going to have a low ceiling for awhile.  Follow any
> > >benchmark you want but this is one of the best predictors out there. 
>The
> > >understatement is "automotive and housing", that is a huge chunk of the
> > >economy and both are going through major corrections. Don't believe 
>that
> > >last sentence, it's boilerplate "the world would be safe if it wasn't 
>for
> > >those damn pilots" bullshit.  Brad
> > >
> > >--------------------------------
> > >
> > >    Slowing Economy Takes a Toll On FedEx's Quarterly Results
> > >------------------------------
> > >
> > >FedEx Corp. reported Wednesday that its earnings dropped 1.9% in the
>fiscal
> > >third quarter, stung by the slowing economy, lower fuel surcharges and
> > >severe winter weather.
> > >
> > >The package-delivery company, which is seen as a bellwether for the
>overall
> > >economy, also lowered its outlook for fiscal fourth-quarter earnings,
> > >tightening both ends of the forecast range by a nickel share. FedEx 
>also
> > >said that, while its long-term goal remains 10% to 15% annual growth in
> > >earnings per share, growth during the coming fiscal year may fall short
> > >because of the sluggish economy and investments that FedEx expects to
>make
> > >in its business.
> > >
> > >"The U.S. economy grew at a lower rate than we expected in the third
> > >quarter, and we saw continued adjustments in the automotive and housing
> > >markets," FedEx Chairman, President and Chief Executive Fred Smith said
>in
> > >the press release. "I believe, however, this represents a healthy
> > >transition
> > >for the economy as it phases into a more sustainable growth rate.
> > >
> > >"FedEx is in excellent position to take full advantage of global
> > >economic-growth trends and deliver overall outstanding financial 
>results
>in
> > >the long run," Mr. Smith said.
> > >
> > >The Memphis, Tenn., company earned $420 million, or $1.35 a share, in 
>the
> > >quarter ended Feb. 28, compared with $428 million, or $1.38 a share, a
>year
> > >earlier. Revenue rose 7% to $8.59 billion.
> > >
> > >The results, which marked the first profit decline for the delivery 
>giant
> > >in
> > >more than three years, were at the high end of the $1.20 to $1.35 a 
>share
> > >forecast range the company set in December, when it reported
>second-quarter
> > >results. Earnings topped analysts' forecasts, while revenue missed
> > >expectations. Analysts polled by Thomson Financial expected, on 
>average,
> > >earnings of $410.1 million, or $1.33 a share, on revenue of $8.7 
>billion.
> > >
> > >FedEx previously said the typical surge in holiday-related freight
>volumes
> > >was "a bit delayed," the latest sign that a slowdown starting in the
>summer
> > >and fall at many railroads and trucking companies may be spreading to
> > >package carriers that handle many shipments on the last leg of their
> > >journey.
> > >
> > >FedEx's average daily package volume in its express and ground 
>businesses
> > >rose 4% in the latest quarter, compared with the year-earlier period,
> > >helped
> > >by growth in international express.
> > >
> > >Revenue in the express business rose 3% to $5.52 billion, and revenue 
>in
> > >the
> > >ground business increased 12% to $1.52 billion. FedEx's freight revenue
> > >rose
> > >30% to $1.1 billion. The Kinko's retail-shipping and office-supply
> > >business,
> > >however, continued struggling, with revenue declining 3% to $485 
>million.
> > >
> > >FedEx expects to earn between $1.93 and $2.08 a share during the 
>current
> > >quarter. Its prior guidance had been $1.98 to $2.13 a share. Analysts
> > >polled
> > >by Thomson Financial expect, on average, for the company to earn $2.03 
>a
> > >share during the quarter.
> > >
> > >Excluding second-quarter costs associated with the new pilot labor
>contract
> > >at the FedEx Express segment, the company expects to earn between $6.70
>and
> > >$6.85 a share for the year. Its prior guidance had been $6.60 to $6.90 
>a
> > >share.
> > >
> > >*Wall Street Journal*
> > >
> > >*3/21/2007*
> > >__________________________________________________
> > >Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> >
> > _________________________________________________________________
> > 5.5%* 30 year fixed mortgage rate. Good credit refinance. Up to 5 free
> > quotes - *Terms
> >
>https://www2.nextag.com/goto.jsp?product=100000035&url=%2fst.jsp&tm=y&search=mortgage_text_links_88_h2a5d&s=4056&p=5117&disc=y&vers=910
> >
> > __________________________________________________
> > Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>
>
>__________________________________________________
>Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list

_________________________________________________________________
Watch free concerts with Pink, Rod Stewart, Oasis and more. Visit MSN 
Presents today. 
http://music.msn.com/presents?icid=ncmsnpresentstagline&ocid=T002MSN03A07001