So here‘s a company with actual sales and profits (I know! What’s come over me?!) – and growing, no less (or at least so they report) – selling at barely 5 times earnings. A way to own a little piece of the Chinese economy, on the cheap? With money I can truly afford to lose, I do.
TOUGH NEWS FOR THE PLUTOCRACY
The latest Stribling & Associates newsletter (‘an insider’s view of the latest trends in luxury residential real estate’) gives you a sense of just how rough it is in New York right now. Madonna snagged an asking-price $45 million double-width townhouse for just $32 million; a Russian billionaire snagged an asking-price $65 million 8,400-foot penthouse for just $37 million (barely $4,400 per square foot); and ex-Lehman chief Dick Fuld had to take a $6 million haircut on the $32 million asking price for his 16-room Park Avenue apartment. It’s truly bargain time. A 5,276-foot four bedroom penthouse at 15 Central Park West, was pegged at $80 million but went for (again) only $37 million. (Is there something about $37 million that just sounds ‘right’ to penthouse bargain hunters?) It’s a good thing the Republicans lowered taxes at the top, and stand ready to fight not to see them raised – things are tough at the top.
Serious health care discussion: here. Twenty leading economists say the Senate Finance Committee’s health legislation ‘will reduce long-term deficits, improve the quality of care, and put the nation on a firm fiscal footing.’
Affront group bizarro opposition: here. The ‘Center for Medicine in the Public Interest,’ which advocates against the public interest; ‘Americans for Quality and Affordable Health Care,’ which opposes affordable health care; and the ‘Association for American Physicians and Surgeons,’ who hold that it’s ‘evil’ for physicians to participate in Medicare and Medicaid. Don’t miss this one.
Quote of the Day
The teacher affects eternity. He can never tell where his influence stops.~Henry Adams
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