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dash
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 Posted: Sat Jan 13, 2007 6:24 pm Post subject: Skyscraper Index |
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The real heyday of the skyscraper age (buildings more than 150 meters tall) was the late 1920s and early 1930s: The Empire State was completed in 1931, and The Chrysler Building in 1930, just after the crash, and at the outset of The Great Depression. Neither building was surpassed until the completion of The World Trade Center in 1970. The 1970s was the worst decade for stocks since the 1930s.
Between 2001 and 2012 almost as many skyscrapers will be built as in the whole of the 20th century.
Dubai, from 2 skyscrapers in 1999 to 90 in 2012. Increase 4,400%
Miami, from 5 skyscrapers in 1999 to 71 in 2012. Increase 1,320%
Las Vegas, from 2 skyscrapers in 1999 to 27 in 2012. Increase 1,250%
London, from 2 skyscrapers in 1999 to 24 in 2012. Increase 1,100%
Important market top in 2012? |
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rffrydr
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| Posted: Mon Jul 05, 2010 11:18 pm Post subject: |
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We might have to tweak this definition a little: is it a skyscraper or is it a city? No doubt it's a monument. MGM
By Tim Melvin
RealMoney.com Contributor
7/5/2010 10:00 AM EDT
| Quote: |
One screen I have played around with over the years involves the battle between insiders and short sellers. I like to look for stocks where the insiders either own a lot of stock or are buying stock, and the shares are heavily shorted. Such a situation sets up a tug of war on a stock, and it has been my experience that something inevitably has to change -- and probably soon -- for better or worse. Either the insiders prove correct and we are set to see upside, or the shorts are right, and the insiders are once again early to the party and about to get crushed along with all the other longs.
One stock that loosely fits the description is casino operator MGM Grand (MGM - commentary - Trade Now). There has been some small insider buying in recent months, as well as some option-exercise trades, in which it appears the officers and directors in question kept the shares obtained through exercise. Almost 30% of the float is sold short right now, so the battle lines appear to be forming. In addition to the small insider buying, investor John Paulson was also a buyer of the stock in the first quarter. So far, the shorts are winning big in this one, with the stock off sharply since the beginning of May. Simply put, the gaming and lodging business is terrible. MGM's key Vegas market is showing aggressive price competition, and this is pressuring margins at the new massive City Center complex MGM opened last year. The scheduled opening of another 3,000-room hotel in the city later this year is not going to help the pricing situation. The company has almost $13 billion of debt, and annual interest payments total more than $700 million. Tangible book value on this stock is about $7.60 and I think the shorts will continue to win until we trade below that level. |
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rffrydr
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rffrydr
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| Posted: Tue Jan 05, 2010 7:39 am Post subject: |
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Late break: renamed "Burj Khalifa" in honor of...the money.
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rffrydr
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rffrydr
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| Posted: Sat Sep 26, 2009 2:38 pm Post subject: |
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http://www.citycenter.com/
Was in Vegas last week watching the final push on the "Jewel of Las Vegas" City Center. The new home of high finance? This project which almost broke MGM is set for graduated move-in december 1. The most anticipated event is the re-pricing of of condos at the end of this month. Consensus is 30%. This will set prices down the tower condo feeding chain.
Louis Vuitton's abstraction anchors the bottom. I remember what a stink the french made when McDonald's went in on the Champs. Now they embrace Las Vegas Blvd. Question is, when you can stay at the Bellagio across the hall for $200/night are you really gonna purchase something a shade modern for $2million (and all the ancillary costs)--without room service?! Much still depends on Asia.
Town was full--of eurpoeans. LOVE was sold out on Sun-Mon. That's the thing about the "economy"--sometimes all it takes is 11 months of rain (london) to get to the sunshine.
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rffrydr
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| Posted: Thu Apr 23, 2009 11:53 pm Post subject: |
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Another kind of impossible building complete with boom/bust, hucksterism made truth, made lie, made true again--an allegory made perfect with devils and angels.
http://www.nps.gov/deva/historyculture/scottys-castle.htm
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rffrydr
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| Posted: Tue Mar 24, 2009 9:41 am Post subject: |
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rffrydr
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HenryTo
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| Posted: Sat Mar 07, 2009 11:10 am Post subject: |
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These are not new supertall skyscrapers, but they are definitely even more extravagant:
http://online.wsj.com/article/SB123630159510147111.html
| Quote: | In a case of monumentally bad timing, this year three of the biggest names in pro sports -- the Yankees, New York Mets and Dallas Cowboys -- are opening three of the most expensive stadiums ever built, filled with premium-priced seats and luxury amenities. At a combined cost of more than $3.5 billion, the stadiums were conceived and financed in a vastly different environment, a time when corporations and municipalities were flush with cash. Now they're opening just as corporate America is going through a massive belt-tightening -- and trying to avoid the appearance of extravagance at all costs.
"Let's face it, if you're taking TARP funds, it's really hard to justify getting a [luxury] box," says Neal Sroka, a luxury real estate agent hired by the Yankees to help sell the team's premium seats, referring to the funds distributed to banks under the Troubled Asset Relief Program.
With just weeks before their new $1.1 billion stadium opens, the Cowboys still have 2,000 premium seats and about 50 of their 300 luxury suites left to sell. The Yankees have hired Mr. Sroka to drum up buyers for the hundreds of premium seats still in their inventory. The Mets, who once had deals for all 49 of their luxury suites, say they've had to go back to the market after one customer, whom they declined to name, backed out. |
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HenryTo
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| Posted: Sat Nov 22, 2008 2:42 am Post subject: |
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Construction of the Russia Tower officially halted:
http://www.cnn.com/2008/WORLD/europe/11/21/russia.tower/index.html?iref=mpstoryview
| Quote: | | The credit crisis meant there was no possibility of paying for the Norman Foster-designed 600-meter (1,968-foot) Russia Tower and no demand from tenants to fill it, Shalva Chigirinsky, head of developer Russian Land, was quoted as saying. |
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HenryTo
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| Posted: Tue Oct 21, 2008 11:49 pm Post subject: |
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Forgot to mention this earlier:
http://en.wikipedia.org/wiki/Russia_Tower
| Quote: | | The Russia Tower (Russian: Башня Россия; Bashnya Rossiya) is a supertall skyscraper currently under construction[1] in the Moscow International Business Centre of Moscow, Russia. Construction began in September, 2007, and is planned to be completed in 2012. Upon reaching its final height of 612.2 m (2,009 ft.), it will be the fifth tallest building in the world.. Additionally, it will be the tallest building in the world with a natural ventilation system. |
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HenryTo
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| Posted: Mon Sep 29, 2008 10:12 pm Post subject: |
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The "Skyscraper Index" strikes again - this time on Wachovia:
http://online.wsj.com/article/SB122273669908488683.html?mod=yahoo_hs&ru=yahoo
| Quote: | Construction workers were still hammering away Monday at the site of a downtown skyscraper that, as of last week, was supposed to house the new headquarters of Wachovia Corp.
"I guess it'll have to have a new name now," said Todd Anderson, a construction worker, as he glanced up at the unfinished building. It will eventually rise 48 stories, making it the second-tallest tower in the area.
The sale of Wachovia bank to Citigroup Inc. has thrown this city -- obsessively proud of its status as the nation's second-leading banking center behind New York City. |
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rffrydr
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| Posted: Sat Sep 20, 2008 10:03 am Post subject: |
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HenryTo
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rffrydr
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| Posted: Tue Aug 19, 2008 8:01 am Post subject: |
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Yes, it's all there in London's "City." Oil/Financial/Global.... the FTSE having so little to do with British growth.
| Quote: | | ....Further proof of property's fast-changing fortunes: when the Wall Street crash wiped out demand for space in a newly built Empire State Building in the '30s, locals dubbed the iconic skyscraper the "Empty State Building." London developers can be forgiven for aiming high. |
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