$18 billion less in pay and benefits

Goldman's executives said the current market creates ``strong headwinds to earnings growth,'' Whitney wrote. The company has cut the bottom 10 percent of its employees instead of the usual bottom 5 percent, she wrote.

http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aTYD3KRUvNDY

No effect.

Steve the rainman is back...

ootin - is that your idea of a helpful comment?

What this your idea of a helpful standalone discussion topic?

Did you post two comments because your first comment got no response and you felt lonely that no one bit?

Was your "no effect" comment intended to be helpful or just to show how smart and sarcastic you could be?

Did you use all capital letters "ABSOLUTELY NO EFFECT" because you thought that if you didn't use all capital letters that your message would be lost?

$18 billion less to the folks who make up the majority of buyers in this town (1/4 to 1/3). Pertty clear what the effect there will be...

uwsider was pointing out Steve the rainman's conversations with himself, so I thought I'd bring this one back with the same general tone.

Thanks, seems like a lot of redundancy here, would be better if we could get some real advice.

uwcider = real estate agent.

Fess up.

not a real estate agent

who are you stevejhx?

and answer the question, have you ever been in the military or otherwise served your country? or are you just a complainer and a protester?

Cider -

Would Steve's logic/data on real estate be more or less valid if he had?

Something to be said for people who have a sense of honor, duty, public service, God and country.

uwcider: "and answer the question, have you ever been in the military or otherwise served your country?"

They don't take my kind in the military.

"or are you just a complainer and a protester?"

Is there something wrong with protesting what is wrong? You imply there is.

BackYarde: "Something to be said for people who have a sense of honor, duty, public service, God and country."

Well that's a useful post - let us get Sneaky Pete back again for the Democrats.

"sense of honor"

Check. Though more of a sense of humor.

"duty"

Yup. Still working at 7 pm on a Saturday.

"public service"

Like Ted Stevens?

"God and country"

Give me a break.

> Something to be said for people who have a sense of honor, duty, public service, God and country.

That only they can comment about real estate on a web site?

wow nasty!

stevejhx
1 day ago
ignore this person uwcider: "and answer the question, have you ever been in the military or otherwise served your country?"

They don't take my kind in the military.

What is your kind stevejhx? Wimps?

And so you are a wimp, did you do anything else for anyone in this country?
Too many people around here are so selfish, they deserve NOTHING.

What exactly does this have to do with the market being screwed?

hmm the city and state now talking about selling air rights and potentially public housing properties to make up for budget deficits?

All those buildings along the east river park with air rights and sitting in the way of prime development reaching the river. I bet the housing authority is licking their chops to sell all those buildings for big cash.

JimTighe: "And so you are a wimp, did you do anything else for anyone in this country? Too many people around here are so selfish, they deserve NOTHING."

Weird. Truly weird.

"the city and state now talking about selling air rights and potentially public housing properties to make up for budget deficits?"

That'll be a cold day.

Steve it IS the day - http://www.nysun.com/new-york/city-housing-authority-may-sell-off-its-air-rights/83092/

SneakyPete, I know you don't know much about real estate, so let me clarify this... you basically contradicted yourself. This says the opposite of selling the projects.

The article is about selling air rights over the projects. Once you sell those, the actual land the projects is on is worth less, because now you can't build big buildings on it. Generally you sell air rights when you have NO plans to develop the land you're on. No developer is going to pay big bucks for the land if he can only put up the same size buildings already on there...

So, if anything, this makes it less likely that those projects will ever be razed...

"and potentially public housing properties"

That's the part I didn't believe, and that's the part that's not in the article. Air-right swaps go on all the time.

eddie your dont know much about real estate. That is undeveloped land. Do you know how much there is currently on that land that is developed? its massive. the spura land and the LES public housing are the largest chunks of publically owned land in NY city.

Even in they sell off the unused air rights, those properties are already developed to 20 stories - at least. the developed areas if razed and rebuilt would represent the largest opportunity for any developer in Manhattan in decades.

I understand air rights, own quite a bit of them myself.

"if razed"

Never going to happen. Wishful thinking, but never. They couldn't even split Manhattan into 2 when they added the 646 prefix because Verizon was accused of being racist.

"own quite a bit of them myself."

Oh petrfitz!

sorry Steve, I have actually purchased property in NYC. Buildings, land and accompanying air rights. I am not in the vein as someone so accomplished like you, a NYC real estate genius who owns no NYC real estate but instead pays someone else $4500 per month to live in a property thet you dont own.

Thanks for educating us all, maybe I will give away my 20,000 sq ft of buildable FAR (air rights) because you dont think they are worth anything.

> those properties are already developed to 20 stories - at least. the developed areas if razed and
> rebuilt would represent the largest opportunity for any developer in Manhattan in decades.

Yes, 20 stories with buildings WAAAY far apart, meaning VERY low density and not particularly attractive to developers.

If you took 20 story buildings that spread out and evened things out, what you are talking about, 5 story buildings all over your property. Wow, sounds like a WINDFALL to me.

;-)

Seriously, Pete, I can't believe you're still arguing this. They aren't razing the projects... they're doing this because they know they aren't.

you mean that 20 story buildings spread apart with park like grounds and onsite parking overlooking the river isnt valuable real estate?

Wow - I must know nothing about real estate. Eddie how many buildings do you own? With your knowledge you must own the whole upper west side.

its also just a coincidence that all the non public housing buildings surrounding these properties are being rezoned to match the same building height as the public housing???????????? nah the housing authority has no plans with these properties. they will do nothing with the largest publically owned track of land in manhattan that happens to be on the river. nah never!

> you mean that 20 story buildings spread apart with park like grounds and onsite
> parking overlooking the river isnt valuable real estate?

1) Not when they are projects.

and

2) Even when they 'aint, still no. Ever heard of StuyTown??? They're having major trouble filling apartments now that they're off stabilization. They're renting 'em to NYU.

Just for Pete... StuyTown is screwed:

http://www.nypost.com/seven/08032008/business/tishmans_stuy_buy_hurting_122825.htm

YES!!! I beat p2015 to an Eddie response!!! WOOHOOO!!!

wait, let me do it...

Eddie... SHHH.. SSHHHHH!!!

no... shhhhhh... SSSHHHHH!!!!! buwaaaahahahaha

MMafia you too are in the shhh category. shhhh, give the negativity a rest, give the paranoia a rest, you might sleep better tonight in your apartment or home, whether you rent it or own it. shhhh baby, shhhh

too late, beat u to it.

wait....

SSSSSHHH!!!!!! no, hang on....

uh.. uh...

sssshSSHHSSSHHHHHHHHHHHHHHHHHHHHH!!!!!!!

MUWAHAHAHAHAA!!!!

Hey MMAfia, are you some freek African dictator? Or the evil priest in INdiana Jones?

what a h

has anyone figured out that EddieWilson and Stevejhx are the identical person?

Same positions
Same style of posting a negative article as worthy of its own discussion topic
Same argument style
Same style of rebuttal, interspersing the original quote and his response
Same claim to have worked at an investment bank, but seemingly not in the investment banking group itself
Same language style and pedantry related to language
Same self-corrections of their own posting
Same imperfect ability to do math
Same level of anger
Same reference to "they" and "them" as out to get people who don't think real estate is going up

what else is the same ... anyone care to point it out?

Wait, I got it, this is sneakypete's new alias...

Nice try, though...