Jul 31, 2008

Early Nitwit Tidbits

Not much going on here this week!

BPD - Watch it.....get ready for a lawsuit. This should be fun.

Premature speculation (part 1)? To be revisited.

Crockett Street - Still closed. Tax lawsuits filed. And ... uh.... the owners did not file an answer to the lawsuit. Looks like ....

Premature speculation (part 2)? To be revisited.

Judge Sanderson - He will make the call on the Port Arthur gig. All eyes are watching. We hear the case was weak. But who knows. Either way it goes upstairs.

Premature speculation (part 3)?  To be revisited.

Riverfront - Get this....maybe the city could sell the water front district to a taxpaying public firm rather than take a bunch of property off the tax rolls. Na....to easy. We want Ford Park II!

I find it ironic that Philip ignored this issue for approximately two years. As two examples, I pointed this out in January of 2008 and November of 2007.   I suppose Philip's sources aren't as up to date as the rest of us.

Next Week - We got the inside gig on the NISD bond. This thing might be dead.

Given the current economy and the amount of money the NISD is asking, it doesn't take psychic powers to figure this out.  We'll revisit next week.

Bennigans - Raise your prices or ...... Chapter 7. When government dictates...sometimes it is smart to get out.

While Philip blames the government, the Wall Street Journal had a different take:

Pressures such as high gasoline prices and dwindling home values have prompted consumers to eat out less often or switch to cheaper fast-food meals.

"There's just too many stores in this category," said Mr. Paul, whose firm has done work for Metromedia. "Most of these places aren't even that full on a Saturday night." Chains have already started slowing their expansion and shutting locations, and Mr. Paul expects that will accelerate.

Other large national chains that have filed for bankruptcy this year include Vicorp Restaurants Inc.'s Bakers Square and Village Inn and Buffets Inc.'s Old Country Buffet. Those chains, however, are trying to restructure and eventually emerge from bankruptcy, while Bennigan's and Steak and Ale are planning to liquidate.

I suppose Philip's opinion is consistent with his take on the economy:

Gas Prices: Good Economy higher gas prices. Supply - demand

Apparently, the gas prices in Nederland weren't high enough when those DQs went under.

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