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sigma

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Posts posted by sigma

  1. The four biggies are Otis, Schindler(Westinghouse), ThyssenKrupp(Dover) and Kone. Fujitec has been trying to break into the Houston market for years. This will probably set them back, at least locally. However, everybody remembers the poor doctor that got his head lopped off in an Otis elevator mishap at St. Joseph's a few years back.

    wasn't that doctor intoxicated while on the job?

  2. Maybe the article below will give those who support the 20 ft levee surrounding Galveston some more "ammo"............ :D

    I, personally---have my concerns with this Bio-4 lab being built on Galveston--but what the h*ll would I know--I'm just a retired researcher myself!!

    http://www.nytimes.com/2008/10/29/us/29lab...amp;oref=slogin

    But what's "done is done"---so now they darn well better make sure the lab is secure!!! :huh:

    Ouch, what else does Galveston have that I did not know about? :)

  3. Let's see, now...Galveston grocery stores are geographically isolated such that they receive practically no business from bi-directional traffic that is one the way from one destination to another (such as the HEB at I-45 and 646 does). Galveston's population is a fraction of it's former state. And its employment base has not only been interrupted by a storm, which was bad enough, but then afflicted by the loss of core employment which is what had justified a huge assortment of business and consumer services firms also on the island.

    ...and you are telling me that a grocer exhibits cowardice by exiting this devastated market after a total loss of its inventory!? Bear in mind, as well, that nothing out of that inventory is salvagable, whether they got 5" of water or 5' of water. It all has to go, and none of their equipment could just be turned on and used again without properly being sanitized. Basically everything of value in that store was rendered useless--or at least that is the case if the store management is the least bit concerned about abiding by health codes.

    Grocery stores operate on razor-thin margins. When daytime population (the sum of permanent residents and payroll employment) is cut by a quarter or a third over the course of a few months, there either have to be fewer grocers or some grocers must be willing to lose money. To the extent that too many grocers re-opened, only those with deep pockets could hope not to go bankrupt. HEB might could afford to be there forever, but long-time community landmarks like Arlen's would eventualy just run out of money. Only big businesses would ultimately survive to see profitability (which would strangely seem counter to your personal ethos).

    Grocers are not in business to lose money. I suspect that you and your wife--business owners yourselves--can probably sympathize with that basic assertion.

    I don't know what your business is, but I'm positive that your margins are better than HEB's just by the nature of their industry. You may not be as exposed to the physical or economic devastation of Galveston (though I would suspect that the loss of an anchor tenant in your shopping center will have a materially impact). Still, if it turned (or turns) out that your business could not (or can not) continue to operate profitably, would you (or do you) still intend to operate it perpetually at a loss? And if not, and you decided to close up shop or move it to a community with better prospects, how would you feel if Galvestonians called its proprietor, your wife, a coward? Would you object? And if so, would you object if I then called you out as a hypocrite?

    I am going to miss that HEB store. It was nice having it down the street when our family stays in Galveston. I was naive to think not that much damage had happen and if it did, rebuild would take no more than 1-2 months. What a ripple effect the hurricane and other external events are having on this wonderful community. I can only image that small-to-medium size business owners with commercial insurance are getting less settlement from the adjusters due to some inverted pos/neg technical insurance provision language that gives the Commercial underwriters a significant hedge at the expense of exposing the "back-bone" of the economy - small-to-medium business owners.

    Maybe we should pool about 1,000 Galveston business owners in a CME or NYM weather derivative portfolio managed by a honest, humble, transparent cowboy or cowgirl born, reared and resides in Texas and make windfall profits when disaster hits. Of course, the Bermuda or New Yorker underwriter, taking the other side of the weather derivative hedge, might be asking for TARP IX from the Federal Government to pay the 1,000 Galvestonians business owners within the pool. I am being extreme here.

    In the end, we all lose; you have my prays, "oh my dear, Galveston"

  4. Close! The Hughes family home on Yoakum is part of the University of St. Thomas campus.

    More info can be found here.

    When the aviator movie was out in 2005?, I believe the Houston Chronicle did an interview with one of Howard Hughes neighbors and class mate at school. I believe her name is Mrs. Pressler and she would have been in her early 90s.

  5. I actually have that book in my living room. I forgot I had it until I saw the picture of the cover and went over to the bookcase to search for it. I'm going to re-read it tonight.

    I agree with FS in that the horse stables offer a more logical reason for existance of the water tank, than Camp Logan does.

    And CampLogan1917, you never identified were that photo was taken of the old wooden structure that was part of Camp Logan. My late uncle once showed me a building on Old Katy Rd just north of present I-10 that he claimed was part of Camp Logan, but was moved to that site after the buildings were sold off. It reminded me of this picture, but I could not be sure. It was an ice-house back then when my uncle drove me by it around 1972 or 73. (It would have been right across the street from TXDot)

    I remember that building across from the Texas Department of Transportation and adjacent to Southern Lumber Company was called "Patroskis Deli" in the late 70's and early 80's. The owner of deli used to live in Timbergrove Manor just North of the Deli. Its been remodeled and of course, has another owner.

    Hope this helps!

  6. Its sad to see the old Holiday Inn in its current state. IMO its the cities fault for not being more aggressive in doing something. All the building needs is a little TLC and a b*ttload of cash.

    I worked for a capital management group in Houston in 1996 that received a commercial project perspective on the "Heaven on Earth" or former "Holiday Inn" hotel and its marketers were seeking $60,000/unit. I believe the hotel has 410+ hotel rooms. From my perspective, the pricing was quite distended even for 1995 - 1999 property speculation.

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