Category: News

  • Sherlock Holmes Could Gross $200 Million


    MOVIE REVIEW: Guy Ritchie’s Sherlock Holmes Enfuses New Life in Old Franchise

    Reviewed by David M. Kinchen

    Forget the argument about the “traditional” portrayal of Sir Arthur Conan Doyle’s master detective Sherlock Holmes: Guy Ritchie’s Sherlock Holmes, starring Robert Downey Jr. as Holmes and Jude Law as Dr. John H. Watson brings new life to the old franchise.

    After all, there have been about 200 movies about the world’s most famous fictional detective, so who’s to say what is traditional and what isn’t.  Many purists point to the late Jeremy Brett’s British television portrayal as the best of the traditional ones. Ritchie benefits from an excellent writing team: Lionel Wigram and Michael Robert Johnson for the screen story and Johnson, Anthony Peckham and Simon Kinberg for the screenplay.


    Ritchie (Rocknrolla, Snatch
    , Lock, Stock and Two Smoking Barrels) directs with his usual hectic pace, with stop action, plenty of explanatory flashbacks and relentless music by Hans Zimmer, the king of relentless movie scores.

    Ritchie’s Sherlock Holmes  is enhanced by the excellent casting choices of Mark Strong as the villain Lord Blackwood and Rachel McAdams as Irene Adler, whose loyalties are divided throughout the movie; you never know when she’s working for Blackwood and when she’s helping out Holmes and Watson. I’m glad McAdams used a North American accent — she’s Canadian — for Adler. In the one Conan Doyle story that Adler actually appears, “A Scandal in Bohemia,” she’s described as an opera singer from New Jersey.

    Speaking of accents, Downey’s British accent is acceptable and he maintains it throughout the movie. Downey is a Holmes of action, participating in bare knuckle boxing matches and is adept at martial arts. His Holmes is the messy Oscar Madison to Watson’s neat and fussy Felix Unger in an “Odd Couple” interchange between the detective and the about to be married Watson.

    The plot is not based on any one of the 56 short stories and four novels of the canon, but includes elements of many of them as serial killer Lord Blackwood attempts to use magic and the infiltration of a masonic/illuminati type organization to engineer a putsch against the British government. Blackwood echoes Adolf Hitler in a reference to his dream of a millennium long government, similar to Hitler’s goal of a “Thousand-Year Reich.”

    Summing up, Sherlock Holmes (128 minutes, PG-13, my rating 3-1/2 out of 4 stars) is the most entertaining version since Billy Wilder’s 1970 The Private Life of Sherlock Holmes which had an hour cut from its original shooting script. There is sure to be a sequel, as it’s set up at the end of the film by the Irene Adler character.

    Word of mouth and fans of Ritchie’s films drove the Christmas Day opening box office total of Sherlock Holmes  to $24.9 million, compared to the $23.6 million Christmas take for Avatar.  I’m guessing Sherlock Holmes will gross at least $200 million.

    Pandora 2154: Avatar Left Me Glowing In The Dark

    Movie Review: Avatar–An Environmentalist Tale

    Copyright © 2006-2010, Basil & Spice. All rights reserved.


  • Android 2.0 (or maybe 2.1) officially coming to T-Mobile G1?

    We don’t know where this is coming from so take it with a grain of salt, but rumor has it from AndroidSPIN that the progenitor Android device, the T-Mobile G1, is destined to officially get an over-the-air update for an Eclair build, Android 2-point-something. It’s not specified which version — whether it’s 2.0 or the Nexus One-tastic 2.1 — will be coming out, but if we had our say, always shoot for the latest and greatest. Hey T-Mo, we know the holidays are pretty much over, but could you validate these whispers for us? Thanks!

    [Thanks to everyone who sent this in]

    Android 2.0 (or maybe 2.1) officially coming to T-Mobile G1? originally appeared on Engadget on Sat, 26 Dec 2009 21:59:00 EST. Please see our terms for use of feeds.

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  • Whale Fossil Discovered in Australia

    This week in Australia, an ancient whale fossil estimated between 25 and 28 million years old has been discovered, and offers some unique insight into evolution and predatory habits.

    The whale, which has been dubbed the ancient dwarf whale since it measures only about 9 feet in length. It’s believed that this whale shares eating habits of today’s baleen whales like the minke, humpback and blue whale. The jaw and skull structures indicate that like today’s species it might use a mud sucking and filter feeding method of eating. However, what’s also unique about this particular fossil of the whale is that it also has teeth – unusual for a whale of this type.

    Researchers believe that this what is also a bit of an evolutionary anomaly. Likely an ancestor of larger similar whales that adapted in order to eat small prey through mud sucking methods as well as larger prey with its teeth.

    Image Via: Flickr User Mike Baird with a Creative Commons License


  • Poll: Will New Travel Restrictions Impact Your Plans?

    In the aftermath of the terrorism attempt on an international flight on Friday, there are new restrictions on airline travel, reports The New York Times. While these restrictions are pretty vague, various airlines are taking steps that include limiting passengers to only one carry-on item, asking them to remain in their seats for the last hour of flight without any personal items (including electronics) on their laps, and more.

    The Transportation Security Administration issued a pretty ambiguous statement, which is going to result in extra time for check-in. Now that isn’t going to help travelers, but an extra hour is worth our safety. Nevertheless, it’s going to be tough for people on the go. I, for one, plan to be smart about my flight plans — traveling only when I absolutely must. How is this going to impact your travel plans?


  • 2009 Year-End Prize Giveaway Bonanza!

    It’s time for the second annual year-end prize giveaway bonanza™! Last year’s winner went on to publish a debut novel with two starred reviews, move uptown, and learn ballet.  What good fortune awaits this year winner, only time will tell, but so far every single winner of this honor has gone on to have extraordinary success in the following year. Coincidence? Perhaps. But, on the other hand, do you want to snub opportunity?

    Speaking of opportunity, our awards committee have been really knocking themselves out over the holidays to assemble this extraordinary collection:

    1. An advanced review copy of Mamba Point, which most people can’t even read until it’s officially released in July.
    2. A small Liberian flag which you can keep on your desk so your friends can mistake it for a the Texan flag, which actually looks different, but which people often think it is anyway.
    3. A toy snake that is more cute than scary.
    4. A recipe for mushroom soup.
    5. A picture of a pig with a toy pail, both important characters in my third novel, hand-drawn by me.

    In addition to this bounty, a donation made by my lovely wife in your name to MN-SNAP (an organization that has nothing to do with Minnesotans snarking on other states and everything to do with curbing pet overpopulation so that every puppy, kitten, bunny and hedgehog has a forever home).

    All you have to do to win is leave a comment (using a real email address in the email address field, which will only be seen by me) so I can contact you if your name is drawn from my faux-fur winter hat that everyone makes fun of by Elwyn* on Sunday, January 3, 2010.

    Posting this to your own blog, Facebook, or Twitter will not increase your mathematical odds of winning, but will greatly increase your karma towards winning. What I’m saying is, I can’t track down who really did do that stuff, but please do!

    *Last year’s winner was selected by Charlotte, our paper-abscombing kitty who we celebrate today for having lived in our fold for one year. Due to suspicious aspects of last year’s contest, we have retired Charlotte from her duties and elected Elwyn, a very nice pig, to do the honors.

  • Quote of the Day

    Only one carry on? No electronics for the first hour of flight? I wish that, just once, some terrorist would try something that you can only foil by upgrading the passengers to first glass and giving them free drinks.

  • CLN Trivia Answer

    I accidentally planted a clue to this one, without remembering I had a standing trivia question on the topic. The Christmas story by the creators of Frances the Badger is none other than my favorite Christmas story, Emmet Otter’s Jugband Christmas. How much do I love this story, especially in Muppet form, I can’t begin to tell you.

  • China amends law to boost renewable energy law – English Eastday

    China’s top legislature adopted Saturday an amendment to the renewable energy law to require electricity grid companies to buy all the power produced by renewable energy generators. The amendment says the State Council energy department and the state …


  • Oh, Crap, History Is Repeating Itself

    unemployment line depression tbiHistory is sort of repeating itself, says the FT’s Martin Wolf.  The ‘Noughties’ of the 20th Century marked the end of a global super-power and led to wars, depressions, and hell…

    “History does not repeat itself, but it rhymes,” as Mark Twain is supposed to have said. The noughties of the 21st century now have the same fin de regime feeling as those of a century ago.

    Then the US, Germany, Russia and Japan were on the rise; now it is China and India. Then it was the Boer war; now it is the wars in Iraq and Afghanistan. Then it was an arms race between Germany and the UK; now it is the military build-up in China. Then the protectionism of the US undermined liberal trade; now conflicts between the US and China undermine our ability to tackle climate change. Then the US was isolationist; now China and other rising powers demand untrammelled sovereignty…

    Read the whole thing >

    Join the conversation about this story »

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  • On-Line Video of Vegan Nutrition: What Does the Science Say

    Thanks to the Vegetarian Society of Hawaii, you can now watch a video of my talk Vegan Nutrition: What Does the Science Say on-line. Click here.

    A special thank you to Dr. William Harris for filming and putting the video together!

  • Stuffed Acorn Squash

    I’ve never really been much for Sweet tasting squash. My grandmother used to bake squash cover it with Brown sugar and Butter and would say "I’t tastes just like candy".. being nobodies dummy at 10, I wasn’t fooled a bit and NO IT DIDN"T TASTE LIKE CANDY!!!

    So here is my submission for Pork Stuffed Acorn Squash

    2 med acorn squash or small pumpkins
    1/2 lb. lean ground beef
    1 large onion, minced
    1/4 cup parsley, chopped
    4 cloves garlic, minced
    1/2 tsp. paprika
    1/2 lb lean fresh pork, ground
    1 cup Pepperidge Farm herb stuffing
    1 cup low sodium chicken or beef broth
    melted butter

    Combine ground meats, stuffing, chopped onion, parsley, garlic, paprika and broth. Mix lightly but well. Season with a pinch of salt and black pepper.
    Cut pumpkin or squash into halves; scrape strings and seeds from inside (save seeds for roasting). Discard stringy pulp.

    Parboil the pumpkin or squash, cut side down in a small amount of boiling water for 5 minutes. Remove from water and pat dry. Brush with melted butter.

    Divide stuffing mixture evenly among the pumpkin halves; brush over stuffing with butter.

    Bake in a preheated 350°F oven for about 1 hour, or until the squash is tender.

  • NSFW: The Physical Impossibility of The Future in the Mind of Someone Trapped In Chicago

    fuckingsnowA weary hello from O’Hare Airport in Chicago, Illinois – the world’s coldest and most inhospitable airport, right in the frozen heart of the world’s coldest and most inhospitable city. That a community organizer from this city would dream of becoming President is no surprise. Chicago is, after all, the only place in the world capable of making Washington DC look like a step up.

    I’m trapped here in standby limbo: my original connecting flight to Nashville cancelled due to snow – the kind of freak weather condition that no one in Chicago could possibly have predicted for December.

    Still, at least I’ve been awake since 4am GMT, and at least my flight left London an hour late because every single passenger had to be patted down by American Airlines staff at the gate, having already passed through the usual madness of security. And at least by “every single passenger” I mean there unfolded a preposterous pantomime where posh white dudes like me were given the most cursorily of rub-downs in order to keep the line moving while those poor saps who fit the terrorist profile – which is to say, anyone who looked a bit brown – were deep-tissue massaged half to death a gaggle of goons in latex gloves. And at least all of that nonsense was utterly pointless because, as any self-respecting terrorist apparently knows, they don’t dare go anywhere near your groin.

    It would be very easy for me to write a reactionary column this week about how technology should have made travel delays like this a thing of the past. About how we have heated soccer pitches, and yet we’re told that heated runways don’t stack up economically. Or how there’s no point in having terrorist watch-lists if people on them are still able to get on flights with bombs sewn into their underwear. I mean, Jesus, we’re days away from the end of the first decade of The Future – 40 years after we put a man on the moon – and yet there are so many areas where technology still lets us down.

    But what good would that do me? I’m already stressed – and they say when you’re in a stressful situation you should focus on the positives, not dwell on the negatives.

    The fact is for every major way in which the technology of the last decade has failed to deliver – hoverboards, teleportation – there are half a dozen smaller advances so mindblowingly significant to our day-to-day lives that we already take them for granted.

    For a start, the only thing making this six-hour extended layover in the frozen circle of hell even slightly bearable is the fact that I have my laptop, a power-outlet and decent quality wifi. How the hell did we manage before wifi? It was less than ten years ago that hotspots started to appear – considerably less in the case of airports – and yet already the idea of not being able to access the Internet anytime, anywhere is genuinely impossible to imagine. Like trying to recall how we made social plans before mobile phones, or how we identified prospective sexual partners before Bebo.

    Whether it be airport wifi on our laptops or oh-just-connect-you-bastard flakiness on the iPhone, the fact that the Internet has become more ubiquitous than electricity in major cities in the past decade is – without any hyperbole whatsoever- a miracle. Sure, it’s destroyed lunch conversation and pub trivia but, in common with anyone who hit their 20s or 30s in the 2000s, I’d happily swap either of those for the ability to book a flight from the back of a cab, or to consult Wikipedia from the toilet.

    And, oh, Wikipedia! Sure it’s unreliable as all hell (citation needed) and anything remotely controversial becomes a battleground of edits and bullshit, but there’s still something incredible about legions of unpaid volunteers, hunched in parental basements around the globe, collaborating to produce an encyclopedia of all human knowledge. Like most hacks, I consult Wikipedia at least half a dozen times a day, safe in the knowledge that I’ll be able to find a fact – accurate or not – to support just about any theory my fevered imagination can dream up. A theory that I can write about in a reputable publication and thus, by Wikipedia standards, launder into truth.

    And how about Netflix? Or Hulu. Or Pandora. Or Last.fm. Or Spotify. To our kids it will seem as natural as water, but neither you nor I will forget the first time we clicked on the title of a song or a movie, only for it to instantly begin playing with crystal clarity. As I’ve written before, it’s the same feeling you experience when a magician turns water into wine in front of your eyes. With all of our talk of DRM and musicians and directors and – oh yeah – authors losing their livelihood it’s easy to forget how utterly bloody marvelous it is that all human creativity is just sitting in the air, all queued up and waiting for us to press play.

    In fact, just sitting here, staring out of the window at the snow, I can think of a dozen more technological advances of the past decade that it would be impossible to imagine the world without. Google. The iPod. Facebook. Skype. YouTube. Online banking. ATM check processing. Celebrity sex tapes. Snopes. GPS mapping for all on cellphones. The Kindle. Trip Advisor.

    As if to prove my point, as I finished writing that list, my iPhone started to vibrate in my pocket. It was a friend in San Francisco who had been following my snowbound breakdown on Twitter and had decided to call to cheer me up. At about the same time, another friend – this one in London – instant messaged me with a very inappropriate joke about bombs on planes which also brightened my evening no end. Ten years ago that simply wouldn’t have happened, nor would I be able to distract myself for another few minutes by sending them both a cameraphone photo of all the snow (above).

    Indeed, the technology of the past decade may not have helped me escape from Chicago but it has at least given me a mental escape tunnel to prevent me going completely mad. And for that reason alone, I raise a frozen hand in salute the technology of the‘00s and look forward with excitement with what the ‘10s will bring.

    I just hope they start with heated fucking runways. Seriously – how hard can it be?

    Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0


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  • FBG’s, P-P’s, and A1c’s…

    Hi Everyone!

    Conundrum time: Of late my FBg’s have been running in the one-teens, but my Post Prandials are steady in the mid 80’s, and my HbA1c’s have been steady at 5.4%.

    I’ve noted that as the daylight hours have gotten shorter this seems to happen. I am getting up in the dark as opposed to waking up to early light. My diet and exercise routines are pretty much the same and I’ve been adjusting my calorie intake to account for the reduced activity levels of winter to maintain (so far successfully) my weight.

    So my question is: has anyone else had a similar experience?

  • Report: Porsche could again challenge for overall Le Mans victory

    Filed under: ,

    You might think now that Porsche is firmly ensconced in the Volkswagen Group family, challenging Audi for overall victory at Le Mans isn’t on the to-do list. Apparently, you would wrong. With 16 overall victories, Porsche has more wins at Le Mans than any other manufacturer. However, while Porsches have continued to do well in GT, the marque’s last overall victory came in 1998. Plans to build a prototype early this decade were abandoned, although the V10 engine developed for it eventually found its way into the Carrera GT.

    New Porsche CEO Michael Macht evidently wants more overall victories, and while Volkswagen will soon control Porsche, family member Ferdinand Piech is chairman of VW’s supervisory board. With the resources of the group available, Porsche could develop a new car to go for number one. No timetable has been given, but this actually wouldn’t be the first time that there has been an internal battle at Le Mans. Earlier in the decade, Bentley also ran a prototype coupe based on the Audi R8.

    With the interest in promoting alternatives like diesel at Le Mans and Porsche soon to debut a hybrid, a prototype with a similar system is not beyond the realm of possibility.

    [Source: AutoCar]

    Report: Porsche could again challenge for overall Le Mans victory originally appeared on Autoblog on Sat, 26 Dec 2009 20:02:00 EST. Please see our terms for use of feeds.

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  • Beyonce’s Single Ladies voted best video of the decade

    Beyonce’s Single Ladies (Put A Ring On It) has been voted best music video of the decade. The choreography in the black-and-white video sparked a dance craze and has been parodied by the likes of Justin Timberlake.

    The second most popular video – voted for by fans of the music website Muzu.tv – was Fatboy Slim’s Weapon Of Choice, which featured Christopher Walken dancing in an empty hotel. Madonna’s dancing in a pink leotard in Hung Up, came third, followed by Kylie Minogue’s Can’t Get You Out Of My Head, where she dances provocatively in a white hooded outfit. Eminem’s Stan, which tells the story of an obsessive music fan, was voted fifth.

  • SSPL for the HTC HD2 now out – expert testers needed!

    Bepe has released a Soft SPL for the HTC HD2, meaning unsigned ROM’s can now be loaded onto the device.

    The software is still in beta, meaning there is a risk the device can be bricked, so only expert users are advices to test the software and give feedback.

    To make the software safer however SPL and Radio flashing has been disabled, meaning it should be possible to recover the device by flashing an approved official ROM (so not for carrier devices without for example).

    To use:

    How to use it:

    • Download the SSPL_RUU.exe and put it into an empty folder
    • Add the RUU_signed.nbh that you want to flash to your device into the same folder
    • Connect the device to the PC, device must be running WM, not show the 3 color screen
    • Run SSPL_RUU.exe

    Read this XDA-Developers thread for full instructions.

    Thanks 619619 for the tip.

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  • REPORT: Toyota Hybrid Concept to be subcompact, headed for U.S. sales in 2012

    Filed under: , , ,

    Toyota Subcompact Hybrid

    Toyota Hybrid Concept teaser – Click above for high-res image gallery

    According to the The Detroit News, Toyota’s upcoming hybrid concept that will be debuted at the Detroit Auto Show on January 11th will be a subcompact machine that’s destined for production. Citing sources familiar with the project, DN says that the car will go into production in Japan in 2011 with U.S. sales slated for the beginning of 2012.

    There’s some speculation that the new model might borrow the Prius name in an effort to capitalize on that car’s undisputed sales success. Toyota reportedly hopes to sell 150,000 subcompact hybrids per year.

    Finally, DN reports that Toyota has sped up development of small cars and hybrids, including a premium compact hatchback for its Lexus division, as foreshadowed by the LF-Ch concept at the Frankfurt Motor Show in September. No word on whether the subcompact hybrid will use nickel metal hydride or lithium ion batteries.

    [Source: The Detroit News]

    REPORT: Toyota Hybrid Concept to be subcompact, headed for U.S. sales in 2012 originally appeared on Autoblog on Sat, 26 Dec 2009 19:04:00 EST. Please see our terms for use of feeds.

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  • Elijah Smith: 11 months locked up without a trial

    Next big Smash EDO protest, 18 January 2010

    from bristolabc, 20 December 2009: “Today 20 December 2009 marks 11 months on remand for EDO Decommissioner Elijah (James) Smith. That’s 11 months locked away in a shitty little cell, deprived of all his freedom, and without any opportunity to argue his case in court. 11 months in prison without actually being found guilty of anything.

    Elijah and the other 5 Bristol anti-militarists face a major trial in May 2010. Whilst the other five face stringent bail conditions, they are at least not locked up in a cell. Elijah however faces another 5 months locked away before getting into court. Compare and contrast this treatment of a man accused only of property damage, with the treatment of the cop who assaulted Ian Tomlinson, moments before he died, at the G20 protests in London on 1 April 2009 – who remains uncharged, at liberty and on full pay…” more

  • The Garrett, Watts Report (Last issue, 2009)

    garrett-watts1

    To Our Clients, Colleagues and Friends,

    • Last week we made fun of the Wells Fargo 2010 calendar for showing black and female stagecoach drivers, chiding them that they looked like they were trying to be politically cool.  Naturally, we heard from several Wells Fargo-ites, and sure enough, a Delia Rawson carried the U.S. mail for Wells Fargo back in the 1880’s. And in an 1869 photograph, an unidentified African-American driver is seen guiding the Wells Fargo stagecoach out of Salt Lake City .
    • Not that many of you are using private mortgage insurance, but here are the M.I. companies ranked by how much insurance they have in force. MGIC was the first private mortgage insurer, and without interruption for over 50 years, they’ve always been the biggest.

    $220 billion

    MGIC

    $173 billion

    PMI Group

    $155 billion

    Radian

    $138 billion

    Glenworth

    $127billion

    AIG (United Guarantee)

    $106 billion

    Republic

    $ 57 billion

    Triad

    • The First Lady in Japan recently told people in a TV interview that she visited Venus in a UFO and that in a previous life she knew Tom Cruise, who was Japanese.  Her husband, the Prime Minister, seems unconcerned.  Can you imagine if Michelle Obama said something as weird as that?  Or Mamie Eisenhower? Footnote to History:  If Ohio Congressman Dennis Kucinich had been elected, we would have had a First Lady with a pierced tongue.  And probably a few tattoos.
    • A client at an Idaho bank asked us about Scorecards for loan officers, and we suggested that the following be tracked:  (1) Volume, (2) gain-on-sale margin on all their loans, (3) delinquencies, (4) early payment defaults, (5) early payoffs, (6) percentage of business that is purchase v. refinance, and (7) pull- through.  This would allow you to compare each loan officer to the companywide average.  Maybe give them a point for each of those seven areas where they’re better than the company average and take away a point when they’re below.   That way, the higher the score, the better the loan officer, with a 7.0 being the best. For a bigger organization, maybe score them by what quartile they’re in.
    • We should note that Comptroller of the Currency John Dugan’s term expires in the summer of 2010.  We don’t see you national bank CEO’s shedding many tears.
    • On Christmas day in 1776 George Washington had one of his few early victories by crossing the Delaware River in the middle of the night and defeating the mercenary Hessians in Trenton .   It may have been his first victory.
      j1
      After you’ve read about every great American and every great President, you always come back to Washington as the greatest of them all, the greatest American and the greatest President.  Jefferson may have been the greatest American in defining what human rights really meant, but he never freed his slaves, even upon his death.  Washington did.  His will stipulated that his slaves should be freed when he died.
    • Another historical event on or around Christmas was December 26, 1991 when the Supreme Soviet met and formally dissolved the USSR .  Karl Marx wrote of enslaved workers throwing off their chains, yet nothing enslaved more people and did so more cruelly than the Communism he spawned.  Although he didn’t murder millions like Stalin or Mao, he deserves a spot in Hell right next to them.
    • We wrote last week about Franklin Resources paying a dividend continuously since 1981, and someone wrote us that “ Franklin’s dividend history is impressive but pales in comparison to Proctor and Gamble (PG).  PG has paid a dividend every year since 1891 and has raised its dividend every year for the past 52 years.   And IBM paid its first quarterly dividend in April 1913… and hasn’t missed a quarterly dividend since that time.”  Impressive.
    • A certain number of our clients are starting to retain servicing, so we’d point out that the biggest sub-servicer is Cenlar with $92 billion, with Dovenmuehle #2 with $70 billion.  Both have very good reputations.
    • “A Toyota ’s a Toyota .”  It cleverly reads the same forwards and backwards. By the way, if you’re a member of the Grammar Police, is it forward or forwards?  We can never remember how that works.
    • We were reading a report on Colony Financial, a newly public REIT.  They just made a loan to giant homebuilder Wm. Lyon Homes, at, get this, 14% + an origination fee of 3%.   It’s a first lien five-year loan.  Sounds like Wm. Lyon was pretty desperate.
    • There have always been lots of good reasons to live in Baltimore , and one of them used to be  watching the Baltimore Orioles.  Their manager for years was Earl Weaver, who holds the record for being tossed out of more games than anyone in baseball history. This is a hilarious video of his being tossed out of game once.  By the way, did you ever wonder what happened to the St. Louis Browns?  In the 1950’s they moved to Baltimore and changed their name to the Orioles.  You’ll really laugh out loud at this:  http://www.youtube.com/watch?v=kl-4FSRYagc
    • We have a thought on what capital levels should be, essentially just requiring more capital as you get bigger. Our theory is that with increased size comes increased complexity, and managing extraordinarily complex organizations such as $2 trillion banks becomes, at best, extremely difficult. We’d propose something like this:

    Size of bank

    Tier One Capital Risk-based

    Under $100 million

    6.00%

    $100 – $500 million

    6.25%

    $500 million – $5 billion

    6.50%

    $5 billion – $50 billion

    6.75%

    $50 – $250 billion

    7.00%

    $250 – $500 billion

    7.25%

    $500 billion and up

    7.50%

    We’re making this up as we go, but we do think the general idea might have some merit.

    • As for complexity as a function of size, think about a small community bank. They really only have 4-5 moving parts:  The vast majority of their earnings are a function of (1) the yield on their loans, (2) the cost of their deposits, (3) fee income, (4) overhead, and (5) credit quality.  Now think about Citigroup or Wells Fargo or any other mega-bank.  How many moving parts do they have?  Dozens?  Hundreds?  Do Vikram Pandit or Jamie Dimon really know what’s going on in every division and every nook and cranny of their banks?
    • In a sign of tough times for families, the WSJ reported that 4.3 million families had their gas and electricity turned off this year.  We read years ago that people will pay their Cable TV bill even when they don’t pay the mortgage.

    · We just read that a little over 20% of mortgage insurance claims are being denied these days. Moody’s says that the historical denial percentage has-been around 7%.

    · We’ve noted here before that the most profitable mortgage banking operations close 8-10 units per salaried employee, and that the very best close 12 per employee.  Joe Cliver of DocuTech wrote that he was at a company in Massachusetts a couple weeks ago that funds 15 loan per FTE.

    Even with about 140 bank failures this year, there have been less than 175 in the last three years.  That’s out of 8,000 banks for a total of 2.18%.  If you look at the last three years, what percentage of mortgage bankers folded up, 20%….30%…40%?  More?  Now look at some interesting stuff from the Banc Investment Daily, showing that the average bank in this country is 57 years old.  If you measure it on an average that’s weighted by asset size, the average bank is 90 years old.  Is there even one mortgage bank that’s 57 years old, let alone 90 years old?

    Happy New Year, and have a great 2010!

    Garrett, Watts & Co.

    Helping mortgage lenders increase revenues, control costs, and better manage risk.

    Joe Garrett         ([email protected])

    Mike McAuley      ([email protected])

    Corky Watts         ([email protected])

  • Urban Meyer leaving Florida; Nick Saban responds, “I will not be the next coach at Florida.”

    In what’s sure to be a shocker to most college football fans, Florida Coach Urban Meyer has announced that he will be stepping down for health reasons. He will coach the Gators through the Sugar Bowl, & he will remain in Gainesville, & also continue on working for the University, as well.

    My first impression of this is:

    1.) There have been some hints about Meyer’s health for a few years now. It seems that it was not just smoke.

    2.) Truly unfortunate for the sport. Meyer proved that a “gimmick offense” could be applied at a BCS program & truly dominate. His contributions will be missed.

    3.) This one might come off a tad harsh, but we’ll never really know if that offense can work as its intended without Tim Tebow there. Unless they bring on another Spread Option guru (Coach Mullen, Jeremy Foley is on Line 1…).

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