To our friends and clients –
For our banking friends: if you haven’t looked at it, take a few minutes and do some research on FDIC assisted bank deals. The math may astound you. The returns, even under conservative assumptions are not very “bank typical”. As they say… “the smart money is moving into this area with both feet”. This may be one of those opportunities that come along every years or so. While Texas may not experience high bank failures; you should line up like we will…just to be ready!
· Brett Favre, the old man he is at 40, has become the first NFL QB to beat all 32 teams, that is some feat. Remember when Roger Staubach couldn’t “win the big one” for the Cowboys, until he did. Troy Aikman started his career 1-15, and didn’t play in the one victory due to injury. Now he’s in the Hall of Fame. It is always too soon to quit. Reminds us to not to listen to the Naysayers.
Austin, Texas has the most certified Bikram Yoga teachers per capita in the world, out of 320+ cities in the world, the teacher certification process last 9 weeks and cost around $10,000. Must be something to it, check it out www.bydaustin.com
This chart tells a compelling story for those running for office in the near future, remember when good ole Ross Perot would come out with his little charts, we miss that guy, someone needs to put this up – “cuz – Lucy… you got some “splaining” to do…” anyone who doesn’t get that reference, please call and we will refresh your memory with our best impression.
Federal Government Finances
According to the National Center for Health Statistics 2008 Chartbook, 39% of adults in the U.S. are not engaging in leisure physical activity. The Center for Disease Control and Prevention has found that 60% of Americans are not regularly active and 25% Americans are not active at all. Healthcare reform = get off your hinny.
Try telling this to your local friendly IRS Revenue Officer, as Rep. Maxine Waters (D-Calif.) downplayed the seriousness of allegations against Charlie Rangel that he failed to disclose sources of income and pay taxes on some properties, saying that many lawmakers suffer from innocent lapses in judgment when filing mandatory financial disclosure forms. “I want to tell you, there are many members who, if you go back over all of their records, over all the years, you’re going to find that there were disclosures that were not made… “hmm…
· We try to provide some material to share with your team each month. Here is one that you can live by whether you are 14 or 84! You should attack life, business or sports with these 4 P’s.
PURPOSE – PERSISTENCE – PASSION – PRIDE
Show us a successful anything and you will find these traits. Examining your own company and unless you can find this in your culture; make some changes today! If you already have them…take them up a notch…. we can always improve. If you have a teenager at home; share this with them.
Last month we mentioned the power of branding and your business… here is one for you – McDonald’s golden arches are now more recognizable than the Cross.
SBA Update: a bill presented in October -7a and 504 for owner-occupied businesses, not investment/tenant space. Taken together, these changes (if enacted in something similar to the version introduced) will create a huge opportunity to originate well- underwritten, risk-protected refinance loans of substantial size during the next year, with continuing opportunity for profitable large SBA lending. Should be very positive for the refinancing market.
Total consumer credit outstanding, which includes everything from credit-card debt to loans for recreational vehicles, fell $12 billion in August, or at a 5.8% seasonally adjusted annual rate, the Federal Reserve reported in October. It was the seventh straight month of declines, the longest stretch since 1991. The drop is a stark demonstration of how banks and other lenders are scaling back, because of their exposure to the struggling real-estate market. We think this flows to the commercial lending side of the banks as well, the last thing a bank wants these days is a credit with a hint of risk.
Bank failure count as this writing, was 107 so far this year, remember our best guess between now and 2011? We looked back to the mid eighties and the failure rate during the mid eighties was about 171 per year, so “things” have been worse in that world.
All our best –
Cole Harmonson | 512-528-1494 | cole@farwestcap.com
Don Stricklin | 512-528-1490 | don@farwestcap.com
Brian Center | 512-528-0382 |brian@farwestcap.com
Mary Rettig | 817-490-5052 |mary@farwestcap.com
Jennifer Royal | 512-528-7620 |jennifer@farwestcap.com