| Posted by david on June 22, 2010 |
I keep getting updates from news outlets about banks – mostly community banks – being foreclosed upon by the FDIC. More and more banks are not meeting the capitalization requirements set forth by the FDIC and are thus being force to shut their doors. These community banks are pillars of their community and when they’re being shut down, I can imagine that a wave of uneasiness flows through the community. Why are these banks closing up shop? Well for one, their balance sheets are somewhat messed up – they have too many commercial notes that are not performing on their books and the FDIC isn’t too happy about that. Banks need to step up and be pro-active about their balance sheets and clean it up as fast as possible. They don’t want to see these balance sheets explode in their face and like a BP oil rig. They should use a virtual special asset manager like Commercial Note Brokers to help them with their REO, residential and commercial real estate notes.
Robert Kiyosaki wrote a very interesting article today about the looming sub-prime/derivative disaster waiting to blow up in our faces. That may sound a bit drastic but a $700 Trillion dollar disaster (according to Kiyosaki) is waiting to happen. Through my blogs, I’ve hinted to the fact that we’re facing a financial bomb but nothing as big as a $700 Trillion. This is somewhat disturbing when you think about it.
| Posted by david on March 22, 2010 |
Ski The Summit 2010 Excellent Adventure
Jason Pavlovic and Stuart Dobson of Commercial Note Brokers are just back from a great business conference hosted by Summit Investment Group held at Steamboat Grand Resort. Summit Investment has now had their 7th annual Ski The Summit conference and retreat.
Colorado Prime Location
This year the group met in SKI TOWN USA, Steamboat Springs, Colorado. This year’s conference was larger and more diverse than any in the past. There were over forty firms represented from the US and Canada. Among over fifty participants were a record nine female participants representing banks, investment firms, attorneys and lenders.
Great Hosts!
The concentration of this conference was distressed commercial real estate backed notes, CRE and commercial and industrial notes, C&I. Participants represented both buyers and sellers for these asset classes. Bob Ekland, C.J. Burger, Bruce Fairbanks and Steve Emerson were among the gracious hosts of this year’s events.
Excellent food and drink!
The conference was a place for the participants to put names and faces together. Events were centered around the excellent powder skiing at Steamboat. Two great dining experiences at the Ore House and Three Peaks grill were provided plus a great Apre‘s-Ski at Slopeside Bar and Grill at Gondola square.
Business and Pleasure!
Participants representing large well capitalized interest looking for all asset classes including Hotels, Multi-family and Commercial backed CRE debt were delighted to have the opportunity to meet. Participants were able to participate in a NASTAR race with the top finishers in the group awarded trophies for the office shelf. The last event for the adventuresome was a sno-cat ski tour in the untracked champagne power that Steamboat is famous for the world over. An excellent time was had with great potential for future business.
