hehe, we will see Looking forward to some friendly rivalry!

 

Everyone seems to be selling there fit and moving to faster better cars. Funny Thing is I did the opposite---don't intend to buy exspensive gas guzzzzling cars anymore---hmmm maybe I got boring actually only own one car now between the wife and I instead of three newer ones. Never really could old on to a car for more than a year--we see how the fit holds out.

 

I think you have me all wrong, I am keeping my Fit. Reliable, Great gas mileage and fun to drive, all these factores makes it a trusty commuter car. After my essentially failed Dyno I have pretty much given up on modifying it further though.

I will be picking up a second car instead; most likely a 1 series whenever I get around to swapping my Condo for a house later this year or early next year... of course providing oil prices increase to something more sustainable. I am going to be out of a job pretty quick if it goes below 50$ a barrel.

 

Oh no not dawging you -- it was just a comment in general. I thought about getting a 350 or is-f as a second car but I'm holding off as the markets are scary and being owners of a few properties we are worried. Hopefully it is ok so you still have a job. The unfortunate thing for me is if things get bad---I have to dish out the bad news to employees----

 

Yeah the markets are seriously getting scary, Oil is like 62$ right now. I would be scared right now if I was dependent on Suncor, they are slashing capital spending starting this month which will strangle a lot of companies pretty quick.

 

Yes scary times may be upon us and may stay for quite some time. Tarket prices of some Big oil Stock players were released today---very scarey for example Suncor intitial target was 80$ now it is 20$---WOW!!.

 

I hear the sound of Warren Buffett and his pal Gates picking up some stock. They seemed happy-smappy on their last visit to Alberta.

 

Apparently Jacobs is laying off 200 people today as a result of just the Suncor cuts. They slashed spending by 60%

 

It is a little hard to compete with Buffett when he buys GE stock at 75% the price with a 10% yield dividend. I think GE has to pay him 13% over his purchase price to buy him out. This is the kind of deal when you invest billions. Little hard for us non-billionaires.

 

Yeah, I still don't fully understand why people with Billions need even more money

Just heard some rumors today that Colt is letting a lot of people go

 

Geez, bad news indeed. I have plenty of family working in the oil industry, all in offices mind you, all are worried and these are people with decades of experience. Now the talk around the Sunday dinner table is about the slimming down of financial obligations to prepare for job cuts, stock options worth crap and zero bonuses. The accountants at the dinner table are fine, they saw it coming months and months ago. They are getting ready for the fire sales to come, darn accountants never pay full price for anything.

 

From what I heard, it is referred to as hedging. The banks have borrow billions of money to try and encourage spending and borrowing to push money back into the economy. This is a bit short sighted as these loans have to be paid back in a few months. They are not long term loans. The short story is people will borrow money (hopefully) and put it back into the economy, but the banks will have to pay back all the money they borrowed. Using this information, I have heard the fire sale will be happen in the first quarter of 2009. Thoughts?