My mom recently came back from a wedding in Sydney and she got me a dress. On the phone she made it sound really fabulous, "it is a evening dress in a pale sea green color, that goes just below your knees with a matching shawl/scarf. Everyone, even your dad, thinks it is very elegant and gorgeous!" It never occurred to me that I'd want a pale green dress, but seeing as it IS Christmas, maybe it'll be just the thing for a Christmas party!
When I first laid eyes on it, my first reaction was PROM DRESS. The whole pastel color and the jewels at the bodice, with the length ....you got to admit, it's a bit prom like. If not prom like, then at least bridesmaid like. Or just... kind of old (esp with the matching shawl). Don't get me wrong. I love my mom for remembering me on her holiday and buying be stuff out of the blue. I DO know how lucky I am and I do appreciate the gesture. And as much as I am complaining now, I will probably end up wearing it. This is just not something I'd pick on my own... I'd probably pick something more vibrant with funkier jewels, more modern. As an economist, I'm always thinking about opportunity cost.
Having stared at it for quite some time now though, I'm starting to come around to it a bit. The pale sea green color and simple bodice design can be considered as goddess-like and elegant. And while it is not modern, I guess it is classic. I can't go too wrong in a classic dress, right?
Sunday, November 30, 2008
Craptaculocity
I'm going to be playing catch up with a couple of posts before I'm gone for holiday vacation. I'll be gone and without computer access for much of my trip from the 10-23 December & again from the 27 December - 4 January. So I'll not be posting for much of the Christmas season. I will however be posting a couple more entries with hopefully a brief list to inform you of a several places to check out during the season.
I've been busy 'building' and one of the things I'm still not satisfied with (hence the entry title), but willing to share is a Greek inspired abode. It's still a work in progress, but since it's empty a great studio to take pictures uninterrupted in. So, I won't be sharing the location of the shots, but lots of information about the clothes. And hopefully a couple of these places will be things you haven't seen before. ^.^
First up is an outfit that Leila passed to me with a brief note about Sin & Secrets holiday gift plans for all of you! This is the first in a series of gifts she'll be placing out. So you will want to stop by her store every couple of days. Here's part of the note she passed to me along with the outfit:
I've shown the Sin & Secret outfit with the new wearable demo hair that is available in most of the House of Heart hairs now. As the new tipped hairs are added for purchase to each style so is a this texture variation which is completely free & wearable! While in the HoH mall I spied a couple of bags in the Blacklace & Alphamale branch location & on the stage there are 2 bags each priced at $1! Both bags contain underthings, but one bag contains 3 skins & shape in addition to the lovely lingerie. ($0/hair & $1/skins - http://slurl.com/secondlife/Tropical%20Escape/126/67/24)
TODAY IS THE LAST DAY FOR: Ok, so if you haven't done the murder mystery hunt at Urban Shopper haul your pixels there asap!!! You can pick up some great schwag whether you're a guy or girl! You'll be looking for different clues in the following participating stores :Designers: !mpossible , M&H, Pixel Dolls, Loser Designs, (nova), Belerophone, Lil's, DaneMarkz, Dani's, & SD Wears. There's more information at the shopping center and the group (The Urban Shopper's) is open if you need help. The blue hair came with one of the outfit shown from the prize hunt. The other style is a new release wearable demo from HoH. ($0 (touch) http://slurl.com/secondlife/Dubya%20City/28/123/25)
ALSO TODAY IS THE LAST DAY FOR: There's a Thanksgiving's Day hunt ending today at the Oak Tree Shops. Most shops also have $1 and $0 items. So definetly keep your eyes open while doing the hunt! Information is at the landing point and you MUST WEAR THE BASKET to participate. ($0 - http://slurl.com/secondlife/Zebranky/10/129/22)
The jeans shown with the Oak Tree Shop loot are found in the library (Girl Next Door Jeans). The fireplace & screen are also part of the prize pack from the Oak Tree Shops!
With the upcoming season I know we can all use a little help around the house! So if you're hiring wait staff for your parties you don't want to spend a bundle on their uniforms. (uhm, yeah) So send them over to Wakame's Bar where there are 3 uniforms up for grabs and completely free. Also a small area next to the bar with some $1 & $0 items. ($0 - bartender, receptionist, sommelir uniforms - http://slurl.com/secondlife/misaki/88/71/21)
I've been busy 'building' and one of the things I'm still not satisfied with (hence the entry title), but willing to share is a Greek inspired abode. It's still a work in progress, but since it's empty a great studio to take pictures uninterrupted in. So, I won't be sharing the location of the shots, but lots of information about the clothes. And hopefully a couple of these places will be things you haven't seen before. ^.^
First up is an outfit that Leila passed to me with a brief note about Sin & Secrets holiday gift plans for all of you! This is the first in a series of gifts she'll be placing out. So you will want to stop by her store every couple of days. Here's part of the note she passed to me along with the outfit:
I am writing to let you know that we will be having a series of presents for xmas. This is the first one, I'll put it under the tree tonight!($0 - items will change - http://slurl.com/secondlife/Nemnem/153/193/31 **check S&S blog here for previews of the outfits while I'm on vacation.)
But the presents stay there only for two days and they are changed every other day. They include Skins, catsuits, and other stuff dresses I will be making. So be sure to grab them while it is there...
I've shown the Sin & Secret outfit with the new wearable demo hair that is available in most of the House of Heart hairs now. As the new tipped hairs are added for purchase to each style so is a this texture variation which is completely free & wearable! While in the HoH mall I spied a couple of bags in the Blacklace & Alphamale branch location & on the stage there are 2 bags each priced at $1! Both bags contain underthings, but one bag contains 3 skins & shape in addition to the lovely lingerie. ($0/hair & $1/skins - http://slurl.com/secondlife/Tropical%20Escape/126/67/24)
TODAY IS THE LAST DAY FOR: Ok, so if you haven't done the murder mystery hunt at Urban Shopper haul your pixels there asap!!! You can pick up some great schwag whether you're a guy or girl! You'll be looking for different clues in the following participating stores :Designers: !mpossible , M&H, Pixel Dolls, Loser Designs, (nova), Belerophone, Lil's, DaneMarkz, Dani's, & SD Wears. There's more information at the shopping center and the group (The Urban Shopper's) is open if you need help. The blue hair came with one of the outfit shown from the prize hunt. The other style is a new release wearable demo from HoH. ($0 (touch) http://slurl.com/secondlife/Dubya%20City/28/123/25)
ALSO TODAY IS THE LAST DAY FOR: There's a Thanksgiving's Day hunt ending today at the Oak Tree Shops. Most shops also have $1 and $0 items. So definetly keep your eyes open while doing the hunt! Information is at the landing point and you MUST WEAR THE BASKET to participate. ($0 - http://slurl.com/secondlife/Zebranky/10/129/22)
The jeans shown with the Oak Tree Shop loot are found in the library (Girl Next Door Jeans). The fireplace & screen are also part of the prize pack from the Oak Tree Shops!
With the upcoming season I know we can all use a little help around the house! So if you're hiring wait staff for your parties you don't want to spend a bundle on their uniforms. (uhm, yeah) So send them over to Wakame's Bar where there are 3 uniforms up for grabs and completely free. Also a small area next to the bar with some $1 & $0 items. ($0 - bartender, receptionist, sommelir uniforms - http://slurl.com/secondlife/misaki/88/71/21)
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Saturday, November 29, 2008
Ctrl BG: A Shortcut to Financial News 11/29
Hope everyone is having a great Thanksgiving weekend and got some great bargains yesterday! With the official start of the holiday season, the markets are also looking a bit brighter. Kind of.
On Monday, Citigroup was bailed out from its recent troubles, with a $20 billion capital injection from TARP in exchange for preferred shares and a government agreement to guarantee over $300 billion of their troubled assets. The shares went from $3.77 last Friday (as I remember, but could be a bit off) to $8.29 yesterday. It would've been an easy way to double your money quick! Citi was simply too big and international to be allowed to fail.
On Tuesday, the latest economic data were released, citing a 0.5% decline in GDP from July-September, more than the 0.3% announced a month ago. Home prices also dropped a whooping 17.4% from a year ago, a record decline. Along with this bad economic data however, the Fed also announced a new $800 billion program to support asset-backed securities including consumer loans and mortgage-backed securities:
Overseas, the latest headline to up the pirate fiasco last week (not that it has gone away), is the terrorist attack in Mumbai, India. I thought that Mumbai and Delhi were pretty civilized and safe these days with their strong economic growth and development. That is why I was so shocked to hear that the city was attacked by terrorists who randomly shot at people on the streets and hijacked 2 of the most luxurious hotels there, the Taj Mahal and the Oberoi, and a Jewish center, taking and killing many hostages! The latest death toll as of Saturday evening was at least 183. The terrorists, were well trained and in their 20s. They arrived in Mumbai by boat and the whole thing appeared to be very well planned. They suspect that the gunmen are from Pakistan and that this may have something to do with the dispute in Kashmir.
On Monday, Citigroup was bailed out from its recent troubles, with a $20 billion capital injection from TARP in exchange for preferred shares and a government agreement to guarantee over $300 billion of their troubled assets. The shares went from $3.77 last Friday (as I remember, but could be a bit off) to $8.29 yesterday. It would've been an easy way to double your money quick! Citi was simply too big and international to be allowed to fail.
On Tuesday, the latest economic data were released, citing a 0.5% decline in GDP from July-September, more than the 0.3% announced a month ago. Home prices also dropped a whooping 17.4% from a year ago, a record decline. Along with this bad economic data however, the Fed also announced a new $800 billion program to support asset-backed securities including consumer loans and mortgage-backed securities:
- $100 billion to buy up debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie Mac and the Federal Home Loan Banks
- $500 billion to buy up mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae
- $200 billion facility to support consumer finance, including student, auto, and credit card loans and loans backed by the federal Small Business Administration
Overseas, the latest headline to up the pirate fiasco last week (not that it has gone away), is the terrorist attack in Mumbai, India. I thought that Mumbai and Delhi were pretty civilized and safe these days with their strong economic growth and development. That is why I was so shocked to hear that the city was attacked by terrorists who randomly shot at people on the streets and hijacked 2 of the most luxurious hotels there, the Taj Mahal and the Oberoi, and a Jewish center, taking and killing many hostages! The latest death toll as of Saturday evening was at least 183. The terrorists, were well trained and in their 20s. They arrived in Mumbai by boat and the whole thing appeared to be very well planned. They suspect that the gunmen are from Pakistan and that this may have something to do with the dispute in Kashmir.
Wednesday, November 26, 2008
Happy Turkey Day
While you wait for Thanksgiving dinner, here is something to oogle over.....Happy Turkey day everyone!
Image Source: Net a Porter
Image Source: Net a Porter
Sunday, November 23, 2008
ANTM Cycle 11- Spoiler!
At this point, I think I've come to accept ANTM as part of my life. Something I just mindlessly watch when it's on. You must admit, it's a nice indulgence. *spoiler alert*
Now that I've "come around" to this way of thinking, my expectations are lower and thus I thought this season's show was not bad! There was a bit of drama, there were pretty pictures, some cool themes (voting booths, award accidents, underwater eye level shots, hanging on hot air balloons etc), a bit of traveling (to Amsterdam)and some sweet prizes. They had fashion show opp prizes, shopping sprees and free designer clothes- it was pretty awesome! The window display challenge in the red light district of Amsterdam was refreshing. Plus they had a REALLY gorgeous Willy Wonka like pink runway in the finale. There was a mini "hill" at the beginning and the models had to run up it in their heels (otherwise they'd fall backwards), it was quite an entertaining scene! Though I thought at the beginning the whole space theme thing and turning a new leaf because it's the 11th cycle was a bit overplayed.
And the winner of Cycle 11 of ANTM is- McKey. She does have very stunning modelesque features and towards the end, I thought her pictures were one of the strongest.
I mean, you got to admit, she has definitely improved from her first photo at the voting booth. It looked like she had no idea....
...and then bam! Here we are. I thought she had some of the most interesting and varied poses in her shoots. She always tried new things and they worked. And did I mention her amazing features? Once they got to final 2, it was obvious who the winner is. Granted she's not who I was vouching for, I thought out of the two she deserved to win (she was a bit too tomboy for me and her walk was a bit "lurch" like as they said). By the way, I thought renaming herself McKey at the beginning was a genius move. It is SO much more interesting and memorable than Brittany.
As you may be able to tell by now, Sam wasn't my favourite girl. Everyone else loved her though, because she had the whole sunny, free California girl next door personality. Maybe I just prefer more serious, subdue personalities. Also, she just didn't LOOK like a model to me, because this girl absolutely cannot dress herself for her life. I still remember that horrible salmon colored v neck sweater and straight skirt she wore to panel, that even Tyra couldn't do anything *shiver*. I also didn't think this picture was as "all that" as all the judges thought. Though I didn't realize that she had only just turned 18 on the show, so I guess I should cut her some slack. Making it into the top 2 is pretty good (her walk was not much better than McKey's). My favourite girl was Analeigh. Maybe I just have a preference for girls with long hair? She was just so SWEET. I loved her personality. She was sweet and cute in a more subdue and quiet kind of way. She also improved dramatically. I remember how she struggled at the beginning and I totally thought she'd be sent home. Her hot air balloon picture was absolutely tragic. Her legs look cut off.
But then she survived being in the bottom two and she finally got the hang of modelling. This is my favourite picture of her. You can see the skater in her and it's so edgy even though she looks so sweet normally. Another thing I loved about her was that she knew how to dress. She's mastered the shift dress and I'm amazed at how versatile her peace pendant was with all her outfits! Too bad about the Cover Girl commercial. It really was quite awful, especially considering how she ROCKED the other commercial! A strong contestant that got weak in the end was Marjorie. I think she actually has that natural model potential that would lead her far in the real world, just not in the world of reality TV. She has that perfect awkwardness and European-ness that makes her so model- she looks modelesque just STANDING there in her windmill photo. Just don't put her in any role where she needs to speak. Her jitters really would not work... But she DOES take some AMAZING photos. I loved this one here. It is so completely convincing! Though she was visibly weaker when she turned a "new leaf," like she lost her natural ability to model (though at times I found her hunchback signature pose a bit too much and she really looks like the hunchback of Notre Dame!).
Another contestant of note was Elina, the control freak. She started out strong and she thought she was so good, but her pictures were getting a bit monotonous. The whole cultural difference and Europeans don't express themselves was a bit too much. Clarke also did not see her elimination coming after she got best photo at the under water eye level shot. I liked Sheena and how she didn't play the whole Asian card on us like Gina did. Nikeysha reminded me of Saleisha, except Saleisha is pretty IMO (they even have the same haircut and similar names!). I remember being surprised by the whole drama with Hannah even though I don't quite remember why anymore (race?). Oh and of course there was Isis. She was strong at first! I'm very impressed with how feminine she looked given that she was a man. Her attitude was also very open, brave and admirable. Wasn't there a really similar contestant before, who kind of looked like her too, took great pictures at first and then dwindled?
I liked how they showed little clips of what other contestants from past cycles are doing now in between too. It's interesting to be reminded of them and see what they're doing now. It sounds like a lot of them signed with Elite anyway, even though they didn't win. Are Elite contracts that hard to come by then?
Image Source: CWTV
Now that I've "come around" to this way of thinking, my expectations are lower and thus I thought this season's show was not bad! There was a bit of drama, there were pretty pictures, some cool themes (voting booths, award accidents, underwater eye level shots, hanging on hot air balloons etc), a bit of traveling (to Amsterdam)and some sweet prizes. They had fashion show opp prizes, shopping sprees and free designer clothes- it was pretty awesome! The window display challenge in the red light district of Amsterdam was refreshing. Plus they had a REALLY gorgeous Willy Wonka like pink runway in the finale. There was a mini "hill" at the beginning and the models had to run up it in their heels (otherwise they'd fall backwards), it was quite an entertaining scene! Though I thought at the beginning the whole space theme thing and turning a new leaf because it's the 11th cycle was a bit overplayed.
And the winner of Cycle 11 of ANTM is- McKey. She does have very stunning modelesque features and towards the end, I thought her pictures were one of the strongest.
I mean, you got to admit, she has definitely improved from her first photo at the voting booth. It looked like she had no idea....
...and then bam! Here we are. I thought she had some of the most interesting and varied poses in her shoots. She always tried new things and they worked. And did I mention her amazing features? Once they got to final 2, it was obvious who the winner is. Granted she's not who I was vouching for, I thought out of the two she deserved to win (she was a bit too tomboy for me and her walk was a bit "lurch" like as they said). By the way, I thought renaming herself McKey at the beginning was a genius move. It is SO much more interesting and memorable than Brittany.
As you may be able to tell by now, Sam wasn't my favourite girl. Everyone else loved her though, because she had the whole sunny, free California girl next door personality. Maybe I just prefer more serious, subdue personalities. Also, she just didn't LOOK like a model to me, because this girl absolutely cannot dress herself for her life. I still remember that horrible salmon colored v neck sweater and straight skirt she wore to panel, that even Tyra couldn't do anything *shiver*. I also didn't think this picture was as "all that" as all the judges thought. Though I didn't realize that she had only just turned 18 on the show, so I guess I should cut her some slack. Making it into the top 2 is pretty good (her walk was not much better than McKey's). My favourite girl was Analeigh. Maybe I just have a preference for girls with long hair? She was just so SWEET. I loved her personality. She was sweet and cute in a more subdue and quiet kind of way. She also improved dramatically. I remember how she struggled at the beginning and I totally thought she'd be sent home. Her hot air balloon picture was absolutely tragic. Her legs look cut off.
But then she survived being in the bottom two and she finally got the hang of modelling. This is my favourite picture of her. You can see the skater in her and it's so edgy even though she looks so sweet normally. Another thing I loved about her was that she knew how to dress. She's mastered the shift dress and I'm amazed at how versatile her peace pendant was with all her outfits! Too bad about the Cover Girl commercial. It really was quite awful, especially considering how she ROCKED the other commercial! A strong contestant that got weak in the end was Marjorie. I think she actually has that natural model potential that would lead her far in the real world, just not in the world of reality TV. She has that perfect awkwardness and European-ness that makes her so model- she looks modelesque just STANDING there in her windmill photo. Just don't put her in any role where she needs to speak. Her jitters really would not work... But she DOES take some AMAZING photos. I loved this one here. It is so completely convincing! Though she was visibly weaker when she turned a "new leaf," like she lost her natural ability to model (though at times I found her hunchback signature pose a bit too much and she really looks like the hunchback of Notre Dame!).
Another contestant of note was Elina, the control freak. She started out strong and she thought she was so good, but her pictures were getting a bit monotonous. The whole cultural difference and Europeans don't express themselves was a bit too much. Clarke also did not see her elimination coming after she got best photo at the under water eye level shot. I liked Sheena and how she didn't play the whole Asian card on us like Gina did. Nikeysha reminded me of Saleisha, except Saleisha is pretty IMO (they even have the same haircut and similar names!). I remember being surprised by the whole drama with Hannah even though I don't quite remember why anymore (race?). Oh and of course there was Isis. She was strong at first! I'm very impressed with how feminine she looked given that she was a man. Her attitude was also very open, brave and admirable. Wasn't there a really similar contestant before, who kind of looked like her too, took great pictures at first and then dwindled?
I liked how they showed little clips of what other contestants from past cycles are doing now in between too. It's interesting to be reminded of them and see what they're doing now. It sounds like a lot of them signed with Elite anyway, even though they didn't win. Are Elite contracts that hard to come by then?
Image Source: CWTV
Friday, November 21, 2008
Ctrl BG: A Shortcut to Financial News 11/21
It's been another exciting week! Almost comparable to that week in September/October, except no major banks collapse (yet) and there were no big mergers. The DOW finally broke the 8000 point after hovering around it for a month, on Wednesday, tumbling 5.1% in a day to yet another more than 5 year new low. The downward momentum continued into Thursday, until it finally went back up to 8000 levels towards the end of Friday.
The week started off with Pandit's speech at Citi, announcing their plan to cut 52,000 jobs (yike!) and cut expenses by 20%. Citi's share began falling as investors worry that these measures will not be able to revive Citi from its current situation- they lost $20.3 bn in the last year and some don't expect it to be profitable in 2009 as they worry about Citi's exposure to credit card/mortgage losses and toxic debt. On Thursday, Prince Alwaleed of Saudi Arabia announced that he was boosting his shares in Citi from 4% to 5%. That didn't give other investors much confidence (not everyone's Buffet), as Citi shares broke the $5 point that day (a 13 year low). This is a very dangerous level to be at, because many institutional investors are not allowed to own shares below $5 and this could trigger a wave of selling before year end. On Friday Pandit assured employees that he would like to keep the company together and does not wish to spin off its Smith and Barney brokerage unit (their crown jewel I guess?). Still, there are rumors of them finding a merger partner or raising capital in the future. Citi is also pressing members of Congress to put back the ban on short selling, as they claim that it is hurting their stock price. Citi's stock price ended $3.77 on Friday, down from $20 a month ago and $30 a year ago!
Following the lead of Golman and UBS, other Wall Street banks are being pressured to foregoe execute bonus this year. JP Morgan also announced that they will be cutting 10% of their workforce.
The other big driver this week was the auto industry. Discussions started looking bleak on Wednesday (and thus the huge drop on concerns of an even deeper recession if the auto industry collapses), as Congress members continue to bicker with the Big 3. I'm not too sure about the details (cars just don't interest me that much), but it sounds like they're concerned about whether taxpayer's money is going to waste since the auto industry was already not competitive before the this financial crisis and they want to see a sound plan to change them into healthier companies before they come to their aid. I believe the catch phrase of the week is, "You show us the plan, and we'll show you the money." Makes sense to me. They will be meeting again in December for the Big 3 to prove to American that they are worth saving. Oh and they seemed to have came up with a good source of where the $25 bn will come from too. Instead of from TARP, it will come from the money already approved in July to help make more environmentally friendly cars. They will give them this money in advance and the Big 3 will slowly pay back this amount into this pool of funds. Makes complete sense to me. That way, we're not creating extra debt.
Speaking of politics, Bernanke has not been very popular recently. His abrupt change of the use of TARP surprised many, leaving them to wonder what exactly they voted for. His annoucement that he doesn't plan to use the rest of the $350 bn of TARP until Obama's administration comes on board, making one question whether he's given up already. Claiming twice in the last week that the government's efforts have succeeded in stabilizing the financial system does not make it true- especially given the crazy market movement this week.
Another major factor contributing to the drop this week is the Fed slashing its outlook for the economy through 2009. They lowered the 2008 GDP forecast from 1-1.6% to 0-1.3% and forecasts that the economy could shrink by 0.2% in 2009. They also raised their unemployment projections sharply higher to 6.3% to 6.5% for 2008 and 7.1%-7.6% for 2009. In addition, the consumer price index also fell by 1% in October, the biggest drop since 1947, suggesting deflation. Many expect this recession would last longer than the middle of 2009. This is gloomy enough news to send anyone running.
Even Berkshire Hathaway was not immune to this market turbulence. On Wednesday, Berkshire plunged over 12%, its worst day since 1987's market crash. They've been getting a lot of bad press lately, with declining earnings in their insurance operations and stocks. They had 9 straight days of decline after they published their third quarter earnings report. Goldman Sachs and General Electric, Buffet's most recent purchases, also went below the price he got them for. Some suggested that he needed a new crystal ball. But on Friday, it Berkshire bounced by 16%, to $90,000. This week, Berkshire also got over $1 bn for its shares in Anheuser-Busch, a brewer, as the acquisition of it by InBev was formally completed. Buffet says he's not worried. Incidentally, Berkshire also significantly boosted its shares in ConocoPhillips this quarter, indicating that he's bull on oil.
On Friday Obama finally decided on the next Treasury Secretary- Timothy Geithner, the current president of the NY Fed Reserves. This appointment was welcoming news to Wall Street as it rallied back up into the 8000 levels. I'm not going to go into his history but he's had a LOT of experience and is widely seen as a good candidate for the job.
Overseas, Iceland finally got a $10.2 bn loan on Thursday, from the IMF, Dutch, British and the Nordic countries. And did you know that we still had pirates in this day and age? Earlier this week, it captured the Sirius Star, which has an oil cargo of about $100 mn worth. Apparently piracy is still very prevalent these days, there has been a record of 199 since the beginning of the year- most prominently in the Gulf of Aden near Somalia. On Thursday, an Indian navy warship sank a Somali pirate vessel. It's like the Pirates of the Caribbean in modern times!
The week started off with Pandit's speech at Citi, announcing their plan to cut 52,000 jobs (yike!) and cut expenses by 20%. Citi's share began falling as investors worry that these measures will not be able to revive Citi from its current situation- they lost $20.3 bn in the last year and some don't expect it to be profitable in 2009 as they worry about Citi's exposure to credit card/mortgage losses and toxic debt. On Thursday, Prince Alwaleed of Saudi Arabia announced that he was boosting his shares in Citi from 4% to 5%. That didn't give other investors much confidence (not everyone's Buffet), as Citi shares broke the $5 point that day (a 13 year low). This is a very dangerous level to be at, because many institutional investors are not allowed to own shares below $5 and this could trigger a wave of selling before year end. On Friday Pandit assured employees that he would like to keep the company together and does not wish to spin off its Smith and Barney brokerage unit (their crown jewel I guess?). Still, there are rumors of them finding a merger partner or raising capital in the future. Citi is also pressing members of Congress to put back the ban on short selling, as they claim that it is hurting their stock price. Citi's stock price ended $3.77 on Friday, down from $20 a month ago and $30 a year ago!
Following the lead of Golman and UBS, other Wall Street banks are being pressured to foregoe execute bonus this year. JP Morgan also announced that they will be cutting 10% of their workforce.
The other big driver this week was the auto industry. Discussions started looking bleak on Wednesday (and thus the huge drop on concerns of an even deeper recession if the auto industry collapses), as Congress members continue to bicker with the Big 3. I'm not too sure about the details (cars just don't interest me that much), but it sounds like they're concerned about whether taxpayer's money is going to waste since the auto industry was already not competitive before the this financial crisis and they want to see a sound plan to change them into healthier companies before they come to their aid. I believe the catch phrase of the week is, "You show us the plan, and we'll show you the money." Makes sense to me. They will be meeting again in December for the Big 3 to prove to American that they are worth saving. Oh and they seemed to have came up with a good source of where the $25 bn will come from too. Instead of from TARP, it will come from the money already approved in July to help make more environmentally friendly cars. They will give them this money in advance and the Big 3 will slowly pay back this amount into this pool of funds. Makes complete sense to me. That way, we're not creating extra debt.
Speaking of politics, Bernanke has not been very popular recently. His abrupt change of the use of TARP surprised many, leaving them to wonder what exactly they voted for. His annoucement that he doesn't plan to use the rest of the $350 bn of TARP until Obama's administration comes on board, making one question whether he's given up already. Claiming twice in the last week that the government's efforts have succeeded in stabilizing the financial system does not make it true- especially given the crazy market movement this week.
Another major factor contributing to the drop this week is the Fed slashing its outlook for the economy through 2009. They lowered the 2008 GDP forecast from 1-1.6% to 0-1.3% and forecasts that the economy could shrink by 0.2% in 2009. They also raised their unemployment projections sharply higher to 6.3% to 6.5% for 2008 and 7.1%-7.6% for 2009. In addition, the consumer price index also fell by 1% in October, the biggest drop since 1947, suggesting deflation. Many expect this recession would last longer than the middle of 2009. This is gloomy enough news to send anyone running.
Even Berkshire Hathaway was not immune to this market turbulence. On Wednesday, Berkshire plunged over 12%, its worst day since 1987's market crash. They've been getting a lot of bad press lately, with declining earnings in their insurance operations and stocks. They had 9 straight days of decline after they published their third quarter earnings report. Goldman Sachs and General Electric, Buffet's most recent purchases, also went below the price he got them for. Some suggested that he needed a new crystal ball. But on Friday, it Berkshire bounced by 16%, to $90,000. This week, Berkshire also got over $1 bn for its shares in Anheuser-Busch, a brewer, as the acquisition of it by InBev was formally completed. Buffet says he's not worried. Incidentally, Berkshire also significantly boosted its shares in ConocoPhillips this quarter, indicating that he's bull on oil.
On Friday Obama finally decided on the next Treasury Secretary- Timothy Geithner, the current president of the NY Fed Reserves. This appointment was welcoming news to Wall Street as it rallied back up into the 8000 levels. I'm not going to go into his history but he's had a LOT of experience and is widely seen as a good candidate for the job.
Overseas, Iceland finally got a $10.2 bn loan on Thursday, from the IMF, Dutch, British and the Nordic countries. And did you know that we still had pirates in this day and age? Earlier this week, it captured the Sirius Star, which has an oil cargo of about $100 mn worth. Apparently piracy is still very prevalent these days, there has been a record of 199 since the beginning of the year- most prominently in the Gulf of Aden near Somalia. On Thursday, an Indian navy warship sank a Somali pirate vessel. It's like the Pirates of the Caribbean in modern times!
Gossip Girl, Last Season?
It's a bit of a late rant, but I've had it on my mind for a looong time now and I simply must just get it out of my system. Remeber the episode this season when they went to visit Yale?
Serena had on this pink and white striped blazer that is just absolutely gorgeous. The design is classic and preppy, while the color and stripes is pretty and flirty. And I REALLY wanted it. Like seriously. I immediately went online and looked up Gossip Girl websites trying to figure out where I can get myself one of those (which frankly, is not one of my fortes). Finally, I found it labelled as a Ralph Lauren blazer. Doh! I should've known. It is so obvious now, I wonder why I spent so much time searching for it to begin with.
Of course, I then hurried onto the Ralph Lauren website, crossing my fingers that it'll be from the RL label that is within my price range- and I couldn't find it! Not deterred, I told myself I'll stop by the RL store next time and ask if the sales person has it. Before I got myself there though, I showed it to my cousin who is positvely a RL expert and he told me that it was a blazer from last season. You have no idea how disapopinted I was (AM!). WHY would they style the characters of such a hot TV series in last seasons clothes? It doesn't make sense. Isn't the whole point of such publicity for labels is to convince viewers to buy these clothes? How did they think we can buy it when it's not even available?
Speaking of which, it reminds me of the second episode of this season (which aired in September) when Blair was coming back from the Hamptons with "the lord." She was in THE orange Marc by Marc Jacobs dress of SS08, which is so completely recognizable I was surprised they chose this dress at all. I'm sure a LOT of thought was put into their outfits by a hoard of stylist, so I don't know what they were thinking.
Because it has been publicized as such a stylish and trendy hot TV series (which I LOVE), I expect to see the latest fashions and style. I was sorely disappointed in these two instances. I am sure there are lots of other instances I haven't caught yet. Maybe the sponsors are getting cheap. Or am I expecting too much?
Thursday, November 20, 2008
I'll Set Your Microwave Ablaze!
Recently a store I hadn't heard of before was pointed out to me. Pocket Pfeffer has several gowns (Morticia inside store includes skin) that would be suitable for rp along with several tshirts with funny catch phrases on them for free. $0 - F(dresses) Uni(Tshirts) - http://slurl.com/secondlife/Goremoor/156/149/99
(Skin: Innovations & Pocket Pfeffer Morticia, Hair:Mikan, Shoes: Brazilian Style, Dresses: Pocket Pfeffer)
You'll want to swing by the <<Discord>> sim and complete their hunt (for pink doughnuts) before this month ends. If you find all 12 pieces (which I did not) you'll have an outfit for guys or girls. I didn't find the #2 pants for guys. The pants shown with the outfit are just black pants made in appearance mode. (ssshhh!) Hair can be won from a lucky board near the new releases area. $0 - M&F - http://slurl.com/secondlife/Discord/232/146/23
(Skin: Innovations, Shoes: Shoe Store Elan, Outfits & Hair: Discord - excluding pants with male outfit read above^^)
(Skin: Innovation, Hair: Mikan, Shoes: Brazilian Style, Dresses: Innovations)
I'm pretty much hunted out, but when I heard about DG Innovations hunt I had to check it out. You'll get skins (used in all pictures), eyes, prim corset piercings, dresses, & accessories in this hunt (dresses from Innovations & Isabelle's store). $0/30 turkey feathers - F - http://slurl.com/secondlife/Innovations/93/206/602
(Skin: Innovations, Hair: Mikan, Shoes: Brazilian Style, Dresses: Isabelle's - from Innovations hunt)
Kumamoto Japan has a new freebie, but you'll also notice a couple new shops on the block. Check out:
Kumamoto Japan $0 & Lucky Board Dresses, Jewelry, Shoes, Tinie AVs, Kimono & more- http://slurl.com/secondlife/KUMAMOTO%20JAPAN/202/127/28
::RuRi:: Lucky boards, $0, $1, & $5 Jewelry - http://slurl.com/secondlife/KUMAMOTO%20JAPAN/150/126/27
:::Morhime:: Camp & Lucky board for Kanzashi & Kimono - also $10 Cat Print Kimono - http://slurl.com/secondlife/KUMAMOTO%20JAPAN/246/117/28
Shop Luv - Lucky Board & Camp for a pair of shoes or dresses. Also a free outfit in the white gift box. Items no transfer and raging up to $40 (very inexpensive). http://slurl.com/secondlife/KUMAMOTO%20JAPAN%202/18/126/28
(Skin: Innovations, Hair: Mikan, Outfits & Jewelry from Kumamoto Japan merchants,
***SB_Mall*** is an awesome spot for Lucky Boards with a whopping 17 boards all dispensing prizes from merchants located in the mall. Most stores have free or $1 gifts along with reasonably priced goods. For the following dress check out Saya ( $0 - F - http://slurl.com/secondlife/Shinsaibashi/104/228/26) & you'll find the hair next door at Mikan ($1/each - F (hair)- http://slurl.com/secondlife/Shinsaibashi/96/229/26).
(Skin: Innovations, Hair: Mikan, Dress: Saya, Shoes: Shoe Store Elan)
All the eyes worn are from Edge Grafica which added the eyes to their stock on 20 Nov. Shown with clothing from Edge Grafica and free boots from Shoe Store Elan. Edge Grafica: $0 - m/f - http://slurl.com/secondlife/Jiminy/72/32/106
Shoe store Elan: $0 - f - http://slurl.com/secondlife/Jiminy/81/51/106
(Skin: Innovations, Hair: Mikan, Outfit: Edge Grafica, Shoes: Shoe Store Elan)
If you're already in the festive spirit while checking out Edge Grafica & Shoe Store Elan stroll down to !SyDS! where you'll find a sofa, chair, ring, & decorations on sale for $1 each. $1/item- furniture and ring - http://slurl.com/secondlife/Jiminy/17/50/106
On to a few Christmas themed goodies:
First up at :=:Ryouta Works:=: you'll find the following look: $0 - F - http://slurl.com/secondlife/Fanghammer/81/109/22
(Skin: Innovations, Hair: Mikan, Outfit: Ryouta Works)
You can find a fur trimmed outfit given out on the **Cutie Honey** Lucky Board. Lucky Board - F - http://slurl.com/secondlife/Busan%20Korea/141/29/260
(Skin: Innovations, Hair: Mikan, Shoes: Shoe Store Elan, Outfit: Cutie Honey)
At PasDeDeux you can find a red and white outfit with several variations. And if themed is not your style there's also a black dress with orange sash available under the Christmas Girl outfit. $1 - F- http://slurl.com/secondlife/Juliet/126/103/46
(Skin: Innovations, Hair: Mikan, Outfit: PasDeDeux)
Lastly if you're looking for a bargain swing by JE*REPUBLIC where you'll find a complete outfit for a steal at $10. $10- F - http://slurl.com/secondlife/Screamin%20Eagle%20Bay/50/31/24
(Skin: Innovations, Hair: Mikan, Outfit: JE*REPUBLIC ~~~ thanks to Jun for forwarding this outfit to share!!!)
(Skin: Innovations & Pocket Pfeffer Morticia, Hair:Mikan, Shoes: Brazilian Style, Dresses: Pocket Pfeffer)
You'll want to swing by the <<Discord>> sim and complete their hunt (for pink doughnuts) before this month ends. If you find all 12 pieces (which I did not) you'll have an outfit for guys or girls. I didn't find the #2 pants for guys. The pants shown with the outfit are just black pants made in appearance mode. (ssshhh!) Hair can be won from a lucky board near the new releases area. $0 - M&F - http://slurl.com/secondlife/Discord/232/146/23
(Skin: Innovations, Shoes: Shoe Store Elan, Outfits & Hair: Discord - excluding pants with male outfit read above^^)
(Skin: Innovation, Hair: Mikan, Shoes: Brazilian Style, Dresses: Innovations)
I'm pretty much hunted out, but when I heard about DG Innovations hunt I had to check it out. You'll get skins (used in all pictures), eyes, prim corset piercings, dresses, & accessories in this hunt (dresses from Innovations & Isabelle's store). $0/30 turkey feathers - F - http://slurl.com/secondlife/Innovations/93/206/602
(Skin: Innovations, Hair: Mikan, Shoes: Brazilian Style, Dresses: Isabelle's - from Innovations hunt)
Kumamoto Japan has a new freebie, but you'll also notice a couple new shops on the block. Check out:
Kumamoto Japan $0 & Lucky Board Dresses, Jewelry, Shoes, Tinie AVs, Kimono & more- http://slurl.com/secondlife/KUMAMOTO%20JAPAN/202/127/28
::RuRi:: Lucky boards, $0, $1, & $5 Jewelry - http://slurl.com/secondlife/KUMAMOTO%20JAPAN/150/126/27
:::Morhime:: Camp & Lucky board for Kanzashi & Kimono - also $10 Cat Print Kimono - http://slurl.com/secondlife/KUMAMOTO%20JAPAN/246/117/28
Shop Luv - Lucky Board & Camp for a pair of shoes or dresses. Also a free outfit in the white gift box. Items no transfer and raging up to $40 (very inexpensive). http://slurl.com/secondlife/KUMAMOTO%20JAPAN%202/18/126/28
(Skin: Innovations, Hair: Mikan, Outfits & Jewelry from Kumamoto Japan merchants,
***SB_Mall*** is an awesome spot for Lucky Boards with a whopping 17 boards all dispensing prizes from merchants located in the mall. Most stores have free or $1 gifts along with reasonably priced goods. For the following dress check out Saya ( $0 - F - http://slurl.com/secondlife/Shinsaibashi/104/228/26) & you'll find the hair next door at Mikan ($1/each - F (hair)- http://slurl.com/secondlife/Shinsaibashi/96/229/26).
(Skin: Innovations, Hair: Mikan, Dress: Saya, Shoes: Shoe Store Elan)
All the eyes worn are from Edge Grafica which added the eyes to their stock on 20 Nov. Shown with clothing from Edge Grafica and free boots from Shoe Store Elan. Edge Grafica: $0 - m/f - http://slurl.com/secondlife/Jiminy/72/32/106
Shoe store Elan: $0 - f - http://slurl.com/secondlife/Jiminy/81/51/106
(Skin: Innovations, Hair: Mikan, Outfit: Edge Grafica, Shoes: Shoe Store Elan)
If you're already in the festive spirit while checking out Edge Grafica & Shoe Store Elan stroll down to !SyDS! where you'll find a sofa, chair, ring, & decorations on sale for $1 each. $1/item- furniture and ring - http://slurl.com/secondlife/Jiminy/17/50/106
On to a few Christmas themed goodies:
First up at :=:Ryouta Works:=: you'll find the following look: $0 - F - http://slurl.com/secondlife/Fanghammer/81/109/22
(Skin: Innovations, Hair: Mikan, Outfit: Ryouta Works)
You can find a fur trimmed outfit given out on the **Cutie Honey** Lucky Board. Lucky Board - F - http://slurl.com/secondlife/Busan%20Korea/141/29/260
(Skin: Innovations, Hair: Mikan, Shoes: Shoe Store Elan, Outfit: Cutie Honey)
At PasDeDeux you can find a red and white outfit with several variations. And if themed is not your style there's also a black dress with orange sash available under the Christmas Girl outfit. $1 - F- http://slurl.com/secondlife/Juliet/126/103/46
(Skin: Innovations, Hair: Mikan, Outfit: PasDeDeux)
Lastly if you're looking for a bargain swing by JE*REPUBLIC where you'll find a complete outfit for a steal at $10. $10- F - http://slurl.com/secondlife/Screamin%20Eagle%20Bay/50/31/24
(Skin: Innovations, Hair: Mikan, Outfit: JE*REPUBLIC ~~~ thanks to Jun for forwarding this outfit to share!!!)
Wednesday, November 19, 2008
FW08 Winter Hats
Besides the classic newsboy cap, the beanie and the beret, the latest winter hat twist to hit the scene this season are these half hoodies.
I first caught sight of them at Marc by MJ (left) and I thought, "whoa it looks like an oversized turtle neck- without the shirt part," and I didn't know what to think of it. In fact, to be honest I still don't. I thought maybe it is an Marc by MJ abberation and I should just ignore it. But no. It seems to be creeping up a lot more lately on both Shop Bop and Barneys. I mean, it's kind of neat in that it is like attachable hoodie you can put on any outfit you want and it serves as both a scarf and a hat. And with the looser kinds, I guess it does look a bit cool (or not as weird as I initially thought it was). But I think the show a little fringe rule applies here too (I can see myself burrow inside the hood, if I ever got this, with a dark hole as my face). What is everyone's consensus on these?
While I am undecided about the loose hoodies above, I am however very decided about these tighter hoodies. I don't like them. It looks like those ski masks people put over their heads, where you can only see their eyes, except here they widened the hole a bit so you can breathe. It just looks weird- especially as an accessory to an outfit it is not part of. If the model doesn't look that great in this... what are our chances?
Other hats of note. I just couldn't resist putting up this Sophia Costa floral knit beret (left). Even though at this point I have to admit that I am not a beret girl, I must say I love this hat. It just looks so artistic and pretty. I can totally see this on Gossip Girl. And speaking of morphing hat and scarf, I thought I'd throw in this Eugenia Kim combo (right). I think it works! Especially since the design is so simple but feminine. I imagine it would be very convenient to just grab this before you head out the door into the winter cold!
And for something a bit more conventional, I am in love with these two winter hats. The first one is a newsboy cap (left) with a twist, literally. The cap is designed to be on the side. Then there is this Mischa Lampert hat (right) which is simply adorable. Especially with the furry balls at the end. It's so festive! Plus, your ears will definitely be warm!
Image Source: Barneys and Shopbop
I first caught sight of them at Marc by MJ (left) and I thought, "whoa it looks like an oversized turtle neck- without the shirt part," and I didn't know what to think of it. In fact, to be honest I still don't. I thought maybe it is an Marc by MJ abberation and I should just ignore it. But no. It seems to be creeping up a lot more lately on both Shop Bop and Barneys. I mean, it's kind of neat in that it is like attachable hoodie you can put on any outfit you want and it serves as both a scarf and a hat. And with the looser kinds, I guess it does look a bit cool (or not as weird as I initially thought it was). But I think the show a little fringe rule applies here too (I can see myself burrow inside the hood, if I ever got this, with a dark hole as my face). What is everyone's consensus on these?
While I am undecided about the loose hoodies above, I am however very decided about these tighter hoodies. I don't like them. It looks like those ski masks people put over their heads, where you can only see their eyes, except here they widened the hole a bit so you can breathe. It just looks weird- especially as an accessory to an outfit it is not part of. If the model doesn't look that great in this... what are our chances?
Other hats of note. I just couldn't resist putting up this Sophia Costa floral knit beret (left). Even though at this point I have to admit that I am not a beret girl, I must say I love this hat. It just looks so artistic and pretty. I can totally see this on Gossip Girl. And speaking of morphing hat and scarf, I thought I'd throw in this Eugenia Kim combo (right). I think it works! Especially since the design is so simple but feminine. I imagine it would be very convenient to just grab this before you head out the door into the winter cold!
And for something a bit more conventional, I am in love with these two winter hats. The first one is a newsboy cap (left) with a twist, literally. The cap is designed to be on the side. Then there is this Mischa Lampert hat (right) which is simply adorable. Especially with the furry balls at the end. It's so festive! Plus, your ears will definitely be warm!
Image Source: Barneys and Shopbop
Monday, November 17, 2008
Winter Berets
It snowed this weekend! Luckily, not the scary blizzard painful kind of snow (not yet anyway), but the movie kind, where they gently flurry down and then disappear as it hits the ground. As pretty as it is though, it is also deceivingly cold. In fact, it is officially freezing out there! A great time to bring out your winter hats to protect your ears from coming off.
I was actually excited this year, because I wanted to try wearing out my white popcorn beret (left) which I just bought from Urban Outfitters. I figured that it was very wintery and cute, plus since it is so loose, it won't give me hat hair (or less of it anyway). Apparently I only got it half right. The first two times I wore it, 2 of my friends told me that I looked like a cancer patient... the rest were too polite to comment. Of course I defended myself and told them that they don't know what they're talking about, but if I were to be honest with myself, I do kind of look like a cancer patient. Because unlike the models on top where the beret just sits atop their head, when I wear it, I pull it all the way down to my eyes and ears (such that no fringe escapes) and am fully bundled up from head to toe- hey it's cold out there! Unfortunately, as a result, one cannot see that I have any hair at all and I effectively do look like cancer patient. White was also an unfortunate color choice. The cute popcorn probably look like tumors on me too.
I'd like to think that this "effect" only applies to unstructured berets like the ones above and that if I got a more structured one, like this one from Eugenia Kim, I would look much better, because I'm totally in love with this hat. I love the little buckle and I love the subtly textured tones of purple. It is dark enough to match with many things, but there's still some color to stand out amongst the black hats around.I have a feeling that it might not provide as much coverage and warmth as the ones above, but it looks so pretty!
Or am I just deluding myself into thinking that it will look better?
Maybe I should just stick to a classic newsboy cap that looks good on everyone- maybe in red.
Image Source: Urban Outfitters and ShopBop
I was actually excited this year, because I wanted to try wearing out my white popcorn beret (left) which I just bought from Urban Outfitters. I figured that it was very wintery and cute, plus since it is so loose, it won't give me hat hair (or less of it anyway). Apparently I only got it half right. The first two times I wore it, 2 of my friends told me that I looked like a cancer patient... the rest were too polite to comment. Of course I defended myself and told them that they don't know what they're talking about, but if I were to be honest with myself, I do kind of look like a cancer patient. Because unlike the models on top where the beret just sits atop their head, when I wear it, I pull it all the way down to my eyes and ears (such that no fringe escapes) and am fully bundled up from head to toe- hey it's cold out there! Unfortunately, as a result, one cannot see that I have any hair at all and I effectively do look like cancer patient. White was also an unfortunate color choice. The cute popcorn probably look like tumors on me too.
I'd like to think that this "effect" only applies to unstructured berets like the ones above and that if I got a more structured one, like this one from Eugenia Kim, I would look much better, because I'm totally in love with this hat. I love the little buckle and I love the subtly textured tones of purple. It is dark enough to match with many things, but there's still some color to stand out amongst the black hats around.I have a feeling that it might not provide as much coverage and warmth as the ones above, but it looks so pretty!
Or am I just deluding myself into thinking that it will look better?
Maybe I should just stick to a classic newsboy cap that looks good on everyone- maybe in red.
Image Source: Urban Outfitters and ShopBop
Sunday, November 16, 2008
Make It Silver
I like simple things, you may have noticed, and when it comes to jewelry I believe simplicity rules all. And while I do like a bit of gaudiness (that post will come later), I am mostly a strong believer in things that are simple - and silver.
The other day I went into George Jensen just to look (with my jaw on the ground). Their items have always caught my eye, they're just very elegant - there is no other way to put it. You can opt to wear their pieces for everyday, or as a focal point for an outfit. The brooch above is beautiful, it has a sense of both old and new.
The setting of the ring above was one of the first I had seen, it came out around two years ago. After George Jensen came out with this design, Tiffany's was quick to follow (but in my opinion not nearly as unique as Jensen's).
Add something with a little more sparkle. Jensen's designs are very smart, often times there is a choice to pick from to add to a piece of jewelry.
So instead of buying multiples of something next time, find one thing that you think is exotic. Those are the pieces that you'll wear over and over again.
These beautiful photographs were in W's Spring Jewelry edition, 2006.
Image source: George Jensen, W Magazine
Saturday, November 15, 2008
Ctrl BG: A Shortcut to Financial News 11/15
This week was actually quite eventful.
It started off with China announcing a $600 billion fiscal stimulus plan effective from now until 2010, to be spent on infrastructure and social projects. Even this Asia powerhouse is not imperious to the global economic downturn, they are expecting growth to slow down to 8-9% as opposed to the double digit growth in the last 5 years. On the plus side, at least they're able to and are doing something to increase the liquidity in their economy.
Over in Europe, things are not so positive. Latvia a small European country, part of the former Soviet Union, just took over their second largest bank, Parex, last weekend. Are they going to be the next Iceland?
Back in the US, American Express got approved to become a bank holding company on Tuesday (just like Goldman Sachs and Morgan Stanley). This way, they'll have better access to capital both from deposits AND from the government, which is probably a good move since consumer loans is expected to hit next and Amex has a LOT of business in that (obviously).
The latest bank in the spotlight is Citigroup. The good news is that on Tuesday, they joint the ranks of Bank of America and JP Morgan to refinance mortgages to help people stay in their homes. The bad news is that Citigroup will be laying off 10% of their workforce (which may add up to 40,000 layoffs!) and doing some serious cost cutting. People are also not very happy with their (relatively) new CEO Vikram Pandit. He lost the Wachovia deal to Wells Fargo and the share price has gone down from $50 last year to $9 on Friday. The board is now questioning whether he's up for the job after all (granted it really wasn't his fault that Citi is in such deep trouble, he was just called in to fix Chuck Prince's mess). He is expected to be making a huge speech about all this on Monday.
On Wednesday, Paulson announced that they were changing their strategy for the use of the $700bn bailout- now known as the Troubled Asset Relief Program (TARP) funds. Instead of buying up bad mortgage debt, they are now going to use the remainder of the funds to directly inject capital into financial institutions. They realized that given the current situation, the original plan was becoming cumbersome and it was just easier and more efficient this way to directly inject capital in order to stabilize the financial system and get lending going, which right now they seem to have achieved (temporarily anyway). But then the question becomes, at which point do they stop giving capital injections to anyone who asks?
This question is especially interesting with the current fiasco in the auto industry. The big 3 are now desperately lobbying for a $25 billion financial aid package to save them from filing for chapter 7 bankruptcy, which means liquidation and going out of business. This would potentially indirectly lead to millions of job losses, due to its huge supply chain. Obama and the democrats are all for it, but some of the Republicans are more reluctant. I can actually see where they are coming from. Bailing out the banking industry is one thing, since banks are a huge part of our economy and will still be around in 50 years time. The auto industry on the other hand, is a dying industry. American cars are simply not globally competitive enough to survive on the long term. They are not as luxurious as European cars, they are not as cheap as Chinese cars and they are not as endurable and gimmicky as Japanese cars. They would slowly go out of business anyway. The current economic situation is just speeding up the process. I'd invest in a Chanel flap bag because I know that it will still be elegant and classic 20 years down the road, but I wouldn't spend the same amount of money on a Coach bag, even if it is limited edition and super luxed up. But I guess the $25 billion will buy us more time to "prepare", so it doesn't add to oil to the current fire. They are also quibbling about where this money should be coming from. The Democrats want it to come out of the TARP money (which makes sense, especially given the "new" strategy) and Bush wants to widen the budget deficit. I believe they're hoping to approve the package this week in the lame-duck session (if anyone is interested in why it is called the lame-duck session, as I was, check it out here).
The G20 also had a meeting on Saturday to discuss the world economy. There weren't any specific guidelines, but they agreed to join their efforts to achieve common objectives, like to improve the regulations and functioning of the financial markets. It's a start. And the power of 20 is definitely more powerful than that of one.
It started off with China announcing a $600 billion fiscal stimulus plan effective from now until 2010, to be spent on infrastructure and social projects. Even this Asia powerhouse is not imperious to the global economic downturn, they are expecting growth to slow down to 8-9% as opposed to the double digit growth in the last 5 years. On the plus side, at least they're able to and are doing something to increase the liquidity in their economy.
Over in Europe, things are not so positive. Latvia a small European country, part of the former Soviet Union, just took over their second largest bank, Parex, last weekend. Are they going to be the next Iceland?
Back in the US, American Express got approved to become a bank holding company on Tuesday (just like Goldman Sachs and Morgan Stanley). This way, they'll have better access to capital both from deposits AND from the government, which is probably a good move since consumer loans is expected to hit next and Amex has a LOT of business in that (obviously).
The latest bank in the spotlight is Citigroup. The good news is that on Tuesday, they joint the ranks of Bank of America and JP Morgan to refinance mortgages to help people stay in their homes. The bad news is that Citigroup will be laying off 10% of their workforce (which may add up to 40,000 layoffs!) and doing some serious cost cutting. People are also not very happy with their (relatively) new CEO Vikram Pandit. He lost the Wachovia deal to Wells Fargo and the share price has gone down from $50 last year to $9 on Friday. The board is now questioning whether he's up for the job after all (granted it really wasn't his fault that Citi is in such deep trouble, he was just called in to fix Chuck Prince's mess). He is expected to be making a huge speech about all this on Monday.
On Wednesday, Paulson announced that they were changing their strategy for the use of the $700bn bailout- now known as the Troubled Asset Relief Program (TARP) funds. Instead of buying up bad mortgage debt, they are now going to use the remainder of the funds to directly inject capital into financial institutions. They realized that given the current situation, the original plan was becoming cumbersome and it was just easier and more efficient this way to directly inject capital in order to stabilize the financial system and get lending going, which right now they seem to have achieved (temporarily anyway). But then the question becomes, at which point do they stop giving capital injections to anyone who asks?
This question is especially interesting with the current fiasco in the auto industry. The big 3 are now desperately lobbying for a $25 billion financial aid package to save them from filing for chapter 7 bankruptcy, which means liquidation and going out of business. This would potentially indirectly lead to millions of job losses, due to its huge supply chain. Obama and the democrats are all for it, but some of the Republicans are more reluctant. I can actually see where they are coming from. Bailing out the banking industry is one thing, since banks are a huge part of our economy and will still be around in 50 years time. The auto industry on the other hand, is a dying industry. American cars are simply not globally competitive enough to survive on the long term. They are not as luxurious as European cars, they are not as cheap as Chinese cars and they are not as endurable and gimmicky as Japanese cars. They would slowly go out of business anyway. The current economic situation is just speeding up the process. I'd invest in a Chanel flap bag because I know that it will still be elegant and classic 20 years down the road, but I wouldn't spend the same amount of money on a Coach bag, even if it is limited edition and super luxed up. But I guess the $25 billion will buy us more time to "prepare", so it doesn't add to oil to the current fire. They are also quibbling about where this money should be coming from. The Democrats want it to come out of the TARP money (which makes sense, especially given the "new" strategy) and Bush wants to widen the budget deficit. I believe they're hoping to approve the package this week in the lame-duck session (if anyone is interested in why it is called the lame-duck session, as I was, check it out here).
The G20 also had a meeting on Saturday to discuss the world economy. There weren't any specific guidelines, but they agreed to join their efforts to achieve common objectives, like to improve the regulations and functioning of the financial markets. It's a start. And the power of 20 is definitely more powerful than that of one.
Thursday, November 13, 2008
Hopefully I'll figure out how I had added a cut, but until then ubber posts ahoy! Rush over to Maeva who is holding a hunt that will end in a couple of days!!! You'll be hunting for 12 small black bags in the store all but #8 are $1; #8 is $5. - F - http://slurl.com/secondlife/Dumfoot/128/241/25
Shown with:
Hair from Junwave. $0 - F - Hair- http://slurl.com/secondlife/Nanba/201/71/27
Skin worn throughout from the [KA] Designs - Paris Hilton free avatar - $0 - F - skin- http://slurl.com/secondlife/KA%20DESIGNS%20Island2/227/56/22
Shoes worn throughout from Truth. $0 - F - shoes - http://slurl.com/secondlife/Truth%20Island/115/144/26
30+ free outfits can be found for the girls at Demi Etage's inworld location here! All are completely free by purchasing the outfit from the glass tube each is encased in. Many of the prim pieces are not flex and impractical. That being said, you'll still want these pieces because the textures are very nice and many outfits still appear complete even without the prim attachments. $0 - F - clothing - http://slurl.com/secondlife/Tokai01/167/113/33
The above is shown with hair from Damselfly that can be found at Savoir Hair. http://slurl.com/secondlife/Hairspray%202/232/83/51
The below pictures show hair from ETD which is having a huge sale right now. All styles are $1 - $30 -
Bring your guy along because next to the Demi Etage area is a collaborative effort of 3 designers UNY + NZU. This area has many, many tshirts and all that are set for sale are free. $0 - tshirts - http://slurl.com/secondlife/Tokai01/196/78/30
And if you're feeling festive visit this area where you & your guy can pick up coordinating Christmas outfits in black or red! http://slurl.com/secondlife/Tokai01/26/148/22
Eyes are from Callie Cline (caLidescope eyes - gemstone) and are part of the limited time $11 sale. (Rush this will end at any time without warning!) Eyes - http://slurl.com/secondlife/caLLiefornia/123/162/27
Shown with:
Hair from Junwave. $0 - F - Hair- http://slurl.com/secondlife/Nanba/201/71/27
Skin worn throughout from the [KA] Designs - Paris Hilton free avatar - $0 - F - skin- http://slurl.com/secondlife/KA%20DESIGNS%20Island2/227/56/22
Shoes worn throughout from Truth. $0 - F - shoes - http://slurl.com/secondlife/Truth%20Island/115/144/26
30+ free outfits can be found for the girls at Demi Etage's inworld location here! All are completely free by purchasing the outfit from the glass tube each is encased in. Many of the prim pieces are not flex and impractical. That being said, you'll still want these pieces because the textures are very nice and many outfits still appear complete even without the prim attachments. $0 - F - clothing - http://slurl.com/secondlife/Tokai01/167/113/33
The above is shown with hair from Damselfly that can be found at Savoir Hair. http://slurl.com/secondlife/Hairspray%202/232/83/51
The below pictures show hair from ETD which is having a huge sale right now. All styles are $1 - $30 -
Bring your guy along because next to the Demi Etage area is a collaborative effort of 3 designers UNY + NZU. This area has many, many tshirts and all that are set for sale are free. $0 - tshirts - http://slurl.com/secondlife/Tokai01/196/78/30
And if you're feeling festive visit this area where you & your guy can pick up coordinating Christmas outfits in black or red! http://slurl.com/secondlife/Tokai01/26/148/22
Eyes are from Callie Cline (caLidescope eyes - gemstone) and are part of the limited time $11 sale. (Rush this will end at any time without warning!) Eyes - http://slurl.com/secondlife/caLLiefornia/123/162/27
Labels:
(f) avatar,
(f) clothing,
(f)hair,
(m)clothing,
limited time,
treasure hunt
Nah! - moved
Nah! has moved and is now two stores. At each store you'll find items priced at $1, but you might also remember that Nah! has no items priced above $50 and does carry low priced items for males too. These are great stores to shop at when you're low on pocket change.
At Nah! you'll find several items in carts outside the store all priced at $1. Some items are older $1 items which you may be aware of, but there were at least two newer items which I don't remember seeing prior. $1 - F - clothing & shoes - http://slurl.com/secondlife/Libra%20Isle/181/91/24
The hairs shown with both looks are from a free store ::Bot:: . $0 - http://slurl.com/secondlife/Discovery/152/95/28
At Nah! Kimono store you'll find the skin and kimono (burning) shown: $1 - F - kimono - http://slurl.com/secondlife/Libra%20Isle/78/25/354
If you're looking for a kimono friendly ao there is a free one available at Fujiyama Geisha's freebie area.
At Nah! you'll find several items in carts outside the store all priced at $1. Some items are older $1 items which you may be aware of, but there were at least two newer items which I don't remember seeing prior. $1 - F - clothing & shoes - http://slurl.com/secondlife/Libra%20Isle/181/91/24
The hairs shown with both looks are from a free store ::Bot:: . $0 - http://slurl.com/secondlife/Discovery/152/95/28
At Nah! Kimono store you'll find the skin and kimono (burning) shown: $1 - F - kimono - http://slurl.com/secondlife/Libra%20Isle/78/25/354
If you're looking for a kimono friendly ao there is a free one available at Fujiyama Geisha's freebie area.
Wednesday, November 12, 2008
Crimson Shadow _ Victoria
Crimson Shadow has changed the dress in their lucky chair. ( Ty to Lokum for forwarding it to share.) Try your luck and maybe you'll win the Victoria dress. $0- Lucky Chair - Dress - http://slurl.com/secondlife/Crimson%20Shadow%20Rezzable/165/150/27
Hair is completely free from Goldie Locks and will be discontinued along with a number of styles at the end of this month. Prices on sale packs range from $0 - $5 for fat packs & $25 - $100 for color packs on varying styles. You'll find a couple of styles for men in the $25/color packet price range. $0 - Sunny - (F) hair - http://slurl.com/secondlife/Nantli%20Xolal/169/72/22
The 118 skin is from [42] which has a pack of skins available in shades from pale - tan for free. $0 - (F) - Skin - http://slurl.com/secondlife/Cursed/13/134/28
Jewelry can be found at +Brian+ and is specially priced for a limited time for $5 (as is the entire line of items at this store). $5 - Jewelry - http://slurl.com/secondlife/BRAIN%20RESTRICTION/133/142/21
The Black and White beaded heels from She's So Unusual were a perfect match and for $1 you get two pairs! $1 - (F) - Shoes - http://slurl.com/secondlife/Unusual%20Isle/64/77/29
You can find the center pose (Millie) priced at just $1 at Imperial Elegance the inset photos utilize poses offered at Striking Poses which were offered for $1, but don't fret there are still $1 poses available.
IE - poses - $1 - http://slurl.com/secondlife/Glenn/165/228/28
SP- poses - $1 - http://slurl.com/secondlife/Glenn/35/150/28
*The end*
And here is the rest of it.
Hair is completely free from Goldie Locks and will be discontinued along with a number of styles at the end of this month. Prices on sale packs range from $0 - $5 for fat packs & $25 - $100 for color packs on varying styles. You'll find a couple of styles for men in the $25/color packet price range. $0 - Sunny - (F) hair - http://slurl.com/secondlife/Nantli%20Xolal/169/72/22
The 118 skin is from [42] which has a pack of skins available in shades from pale - tan for free. $0 - (F) - Skin - http://slurl.com/secondlife/Cursed/13/134/28
Jewelry can be found at +Brian+ and is specially priced for a limited time for $5 (as is the entire line of items at this store). $5 - Jewelry - http://slurl.com/secondlife/BRAIN%20RESTRICTION/133/142/21
The Black and White beaded heels from She's So Unusual were a perfect match and for $1 you get two pairs! $1 - (F) - Shoes - http://slurl.com/secondlife/Unusual%20Isle/64/77/29
You can find the center pose (Millie) priced at just $1 at Imperial Elegance the inset photos utilize poses offered at Striking Poses which were offered for $1, but don't fret there are still $1 poses available.
IE - poses - $1 - http://slurl.com/secondlife/Glenn/165/228/28
SP- poses - $1 - http://slurl.com/secondlife/Glenn/35/150/28
*The end*
And here is the rest of it.
Labels:
(f) clothing,
(f)hair,
(f)lucky chair,
(f)shoes,
(f)skin,
bargain shopping,
poses
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