Friday, September 19, 2008

When the world is running down, you make the best of what's still around

Okay, so I bought a car, but it's not a Co-rolla. I got a Honda Civic. Since the beginning of the year, I have hit the Japanese car trifecta: Toyota-Nissan-Honda. It's a stick, so I have to get used to that again--it's a nice enough old car, though.

I have gotten a couple of quizzes back now-so far, so good. I think the professors are taking it easy on us grade-wise, for which I am very grateful, especially in Statistics. Also, I was elected as one of two representatives from my class for the MBA Marketing Association-one more step in my quest to take over the world (I'm taking the long, slow road). Essentially what this means is that in addition to my class load, career search and family time I get to go a bunch of meetings and think of ways to make Neeley a more relevant marketing force in the universe. Then next year, I will get a real title, like president, vice president, treasurer or janitor. Piece o' cake.

So, how 'bout that economy? Few have been hit harder than WaMu. New CEO last week, stock prices around $2 this week and openly courting buyers! I would say it can't get much worse than that, but then I think of Countrywide, Lehman bros, AIG, Freddie, Fannie, etc. I guess it could get worse. While the company on a whole is in trouble, but I can't help but think the Commercial Group will come out relatively intact. It is still profitable and it has more apartment loans than any other bank in the country. Even if WaMu is bought by another bank, it won't have the infrastructure in place to originate & service these loans. They would have to retain the organization and personnel in place to manage the portfolio. That's my two cents (these days, that's almost enough to get you a share of stock).

Hopefully, the economy will recover before I finish school so I can get a job. Hopefully, whoever our next president is won't make things worse by fixing everything. Hopefully, my 401K won't be worthless before the end of the year. Hopefully, "America as we know it" isn't over. And hopefully, this season of Heroes will be worth the wait. Cause let's face it--what really matters is that the writers are back and it's almost time to plug in our IV of televisory anasthetic and forget what is going on in the world. I wonder if my teachers will start grading even easier, now that "must-see" TV is back. They have to--it's called "must-see" for a reason.....

2 comments:

Jules said...

So are you saying WaMu is a "buy"? :) Honda Civic-good car. Saw Heroes once-couldn't follow. Sticking to The Big Bang Theory (which you'd love) and the New Adventures of Old Christine.

Glad you are doing well in school!

Ed said...

Actually, WaMu would be pretty risky right now. If the government takes over like Indymac, or if they filed bankruptcy you would lose everything.