Jan
22
2008
By: R. Sebastian Gibson, Attorney At Law
It is January 21, 2008, and not only is the word ARecession@ being used more and more frequently by analysts, we are now starting to also hear the word ADepression@ as a possible outcome of this economic crisis facing the United States and possibly the rest of the world.
As this article is being written, the stock markets around the world have started to fall more precipitously with most of the markets in Europe, Asia, China, Latin America and Canada falling from 5% to 8% overnight. U.S. markets are expected to fall over 500 points when the U.S. markets open again for business on the Tuesday following the Martin Luther King holiday. Continue Reading »
Jan
22
2008
By: Realtor And Attorney, R. Sebastian Gibson
There is usually little to be gained by attempting to find someone to blame when a calamity such as the current housing crisis occurs. Even if one were to determine exactly what was done wrong, there is little chance that by the time another such crisis is about to occur, that such a determination will be remembered or have any value.
Indeed, what may be about to cause the world’s next depression, is quite unlike what caused the depression of the 1920s. Continue Reading »
Jan
15
2008
On March 23, 1989, the supertanker Exxon Valdez pulled out of Valdez, Alaska, loaded with more than 56,000,000 gallons of crude oil. Captain Joseph Hazelwood, the Master of the vessel, had spent the day drinking with crew members. He had consumed at least eight vodka doubles and his blood alcohol level stood at .241 - more than six times the permissible level under Coast Guard regulations. Third mate Gregory Cousins was on duty beyond the limits specified by federal fatigue laws. Hazelwood, Cousins and the rest of the crew faced a night voyage through ice in Prince William Sound. Hazelwood’s intoxication was evident from the alcohol on his breath, his slurred speech (captured on audiotape) and, most of all, his actions as the ship navigated the sound. Continue Reading »
Jan
08
2008
One of the most frustrating things for manufactured home owners in the last few years has been the changing emphasis on type of foundations on their understructures in order to qualify for loans. Frustrating because as of a few years ago this was not a requirement so many homeowners either bought a home or refinanced a home without the “foundation” restriction and now either they are selling or refinancing and they are finding a different lending environment. It catches many by surprise! Continue Reading »
