Comments on: The State of Shorts http://longorshortcapital.com/the-state-of-shorts.htm We dividend our ad money to you. Wed, 28 Jul 2010 14:05:23 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Size http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-112867 Size Thu, 16 Oct 2008 01:26:30 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-112867 <i>California and other states may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the Federal Treasury for short-term financing.</i> I have an idea so revolutionary that Californians may need to put on a pair of sunglasses as it will bathe them in the bright light of a Eureka Moment. Ready? Reduce spending. California and other states may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the Federal Treasury for short-term financing.

I have an idea so revolutionary that Californians may need to put on a pair of sunglasses as it will bathe them in the bright light of a Eureka Moment. Ready?

Reduce spending.

]]> By: Size http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-112866 Size Thu, 16 Oct 2008 01:23:16 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-112866 @TexasHedge Independents going under because oil dipped to $80/bbl. Holy crap. When I covered independents as an equity analyst in the 90's, those guys were dealing with oil dropping to $10/bbl and they weren't going belly up. They can't survive on $80/bbl oil? I've been out of the oil biz for a while, but that seems very strange to me. They should all go talk to the boys at Devon Energy. Those good old boys know how to run a petroleum company. Also, the product mix for most American independent companies is very natural gas heavy. All they really need is cold winters in the NE and hot summers in the South. @TexasHedge

Independents going under because oil dipped to $80/bbl. Holy crap. When I covered independents as an equity analyst in the 90′s, those guys were dealing with oil dropping to $10/bbl and they weren’t going belly up. They can’t survive on $80/bbl oil? I’ve been out of the oil biz for a while, but that seems very strange to me. They should all go talk to the boys at Devon Energy. Those good old boys know how to run a petroleum company.

Also, the product mix for most American independent companies is very natural gas heavy. All they really need is cold winters in the NE and hot summers in the South.

]]> By: Novice http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-112634 Novice Tue, 14 Oct 2008 16:11:59 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-112634 Texas-Sized Margin Call: are you referencing a certain Okie who was borrowing against his own stock to buy more? Also, I have faith in Texas to do what we always do when revenues decrease: slash social spending to the bone in order to keep the state budget pretty. Texas-Sized Margin Call: are you referencing a certain Okie who was borrowing against his own stock to buy more?

Also, I have faith in Texas to do what we always do when revenues decrease: slash social spending to the bone in order to keep the state budget pretty.

]]> By: Jeff http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-112433 Jeff Mon, 13 Oct 2008 17:49:09 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-112433 During the boom, the states used skyrocketing revenue to provide essential services for the people that need it the most. During the bust, the states are forced to raise taxes to record levels to provide essential services for the people that need it the most. I'm seeing a trend here... During the boom, the states used skyrocketing revenue to provide essential services for the people that need it the most.

During the bust, the states are forced to raise taxes to record levels to provide essential services for the people that need it the most.

I’m seeing a trend here…

]]> By: Texas-Sized Margin Call http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111964 Texas-Sized Margin Call Sat, 11 Oct 2008 20:50:22 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111964 TexasHedge is right. Austin got on the wrong side of its naked call written on Galveston County Recovery Corp. (OTC:GCRC.FU) and the Bank of Ike is looking for collateral now. Not to mention that the NAV of the Barnett Shale fell 20% this week and the secret every knows here is that the TX Medicaid program is one of the most underfunded West of the Mississippi. Great time to rent in the Lone Star State... TexasHedge is right. Austin got on the wrong side of its naked call written on Galveston County Recovery Corp. (OTC:GCRC.FU) and the Bank of Ike is looking for collateral now. Not to mention that the NAV of the Barnett Shale fell 20% this week and the secret every knows here is that the TX Medicaid program is one of the most underfunded West of the Mississippi.

Great time to rent in the Lone Star State…

]]> By: Credit Crunch Investor http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111853 Credit Crunch Investor Sat, 11 Oct 2008 08:44:57 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111853 California governor Arnold Schwarzenegger told the Treasury Secretary Henry Paulson on Friday that the Sunshine State who is the most populated state in the country may need to ask the help of the federal government ... In an October 2nd letter to Paulson, Schwarzenegger said, “Absent a clear resolution to this financial crisis that restores confidence and liquidity to the credit markets, California and other states may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the Federal Treasury for short-term financing.” Arnie then went on to say that "I also need your clothes, your boots and your motorcycle" :-) California governor Arnold Schwarzenegger told the Treasury Secretary Henry Paulson on Friday that the Sunshine State who is the most populated state in the country may need to ask the help of the federal government … In an October 2nd letter to Paulson, Schwarzenegger said, “Absent a clear resolution to this financial crisis that restores confidence and liquidity to the credit markets, California and other states may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the Federal Treasury for short-term financing.”

Arnie then went on to say that “I also need your clothes, your boots and your motorcycle” :-)

]]> By: TexasHedge http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111779 TexasHedge Fri, 10 Oct 2008 21:33:14 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111779 Matt- perhaps you missed the two independent E&Ps who filed for bankruptcy this week, or that the price of oil dipped below $80. Sales tax receipts, which are a huge chunk of state revenue, are slowing. Texas is in better shape than most, but it isn't dodging this one... Matt- perhaps you missed the two independent E&Ps who filed for bankruptcy this week, or that the price of oil dipped below $80. Sales tax receipts, which are a huge chunk of state revenue, are slowing. Texas is in better shape than most, but it isn’t dodging this one…

]]> By: Matt http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111772 Matt Fri, 10 Oct 2008 20:35:32 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111772 @ TexasHedge You sure that the Texas part is not contrived? Texas is under no real-estate related stress because property is still chugging along flat to slightly positive as it always has been. Sp you have flat real-estate taxes + no impact of income taxes as there are none. So once again, why would anything change in Texas? Hurts to know that you great socialist CA/NY miracles are shams, does it? @ TexasHedge

You sure that the Texas part is not contrived? Texas is under no real-estate related stress because property is still chugging along flat to slightly positive as it always has been. Sp you have flat real-estate taxes + no impact of income taxes as there are none.

So once again, why would anything change in Texas? Hurts to know that you great socialist CA/NY miracles are shams, does it?

]]> By: Anal_yst http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111743 Anal_yst Fri, 10 Oct 2008 18:57:48 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111743 @ TexasHedge List son, the voice of reason has no, I repeat, NO place here. That you haven't picked up on this yet leads me to doubt your Texas hedging abilities, real or imagined or otherwise @ TexasHedge

List son, the voice of reason has no, I repeat, NO place here. That you haven’t picked up on this yet leads me to doubt your Texas hedging abilities, real or imagined or otherwise

]]> By: TexasHedge http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111730 TexasHedge Fri, 10 Oct 2008 17:27:21 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111730 Yeah because those states without income tax won't do something stupid like, you know, raise property taxes (which are already ridiculously high). Yeah because those states without income tax won’t do something stupid like, you know, raise property taxes (which are already ridiculously high).

]]> By: W.C. Varones http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111699 W.C. Varones Fri, 10 Oct 2008 14:56:30 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111699 The Spendinator is <a href="http://wcvarones.blogspot.com/2008/10/buy-california-bonds.html" rel="nofollow">doing radio ads</a> trying to swindle people into buying Titanic bonds. The Spendinator is doing radio ads trying to swindle people into buying Titanic bonds.

]]> By: Mr Juggles http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111698 Mr Juggles Fri, 10 Oct 2008 14:56:01 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111698 Great point. If you have no income, move to California. The weather is great, as is sucking off the teat of 40% of the population that pays taxes. Great point. If you have no income, move to California. The weather is great, as is sucking off the teat of 40% of the population that pays taxes.

]]> By: Strattie http://longorshortcapital.com/the-state-of-shorts.htm/comment-page-1#comment-111690 Strattie Fri, 10 Oct 2008 13:34:30 +0000 http://longorshortcapital.com/the-state-of-shorts.htm#comment-111690 Don't you have to have income before it can be taxed?! Don’t you have to have income before it can be taxed?!

]]>