Archive for May 29th, 2008

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I’ve to applaud the real estate lister for honesty on this one, the listing says that the rooms are “comfortable, but not huge.” This is the price one pays sometimes for an older home and today’s home, a Jonathan Badger tenement, c. 1770 (brick portion possibly dating to circa 1693) in downtown Charleston is definitely old by American standards. This four-bedroom home has maintained many of its original features right down to the 1770 lock on the front door. The first floo has a formal living room, music room and formal dining room with fireplaces, beautiful moldings and high ceilings. The kitchen has wall ovens, an electric cooktop with ventilated grill, a built-in microwave, refrigerator, trash compactor, instant hot water dispenser, garbage disposal, and ice maker and a walk-in pantry offers storage. Adjoining the kitchen is a small den with a big brick fireplace. The second level includes the master bedroom with a big walk-in closet/dressing room as well as a lady’s dressing room with a fireplace, multiple closets, and a vanity. The full bath contains two sinks, a bidet, toilet, jacuzzi tub, and separate shower. A drawing room/library offers a fireplace flanked by built-ins. Two additional rooms, which could serve as a bedroom, study/office, or sitting room, share a full bath. On the third level, there are two more bedrooms which share a full bath. The private and gated bricked driveway can accommodate parking for 4 vehicles and there’s a formal garden with azaleas, camellias, loquats, mini magnolias, yew, juniper, and 120 rose bushes. If your furniture is small and your heart is traditional, this is one great place. It is listed at $2,625,000.
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A lot of younger workers are standing around wondering if we baby boomers are ever going to retire. After all, they have the ability to do the jobs so much better and faster, and youth trumps experience, right?

But it looks like the recession, tight housing market, and health care concerns are keeping baby boomers from retiring. A recent Business Week article focuses on why baby boomers aren’t retiring as expected.

The biggest reason:  We can’t afford it.  With higher prices, falling retirement fund values, higher costs of health care, it just doesn’t make economic sense for a lot of people.

We should all step up and retire to help the economy and make room for those young people who need jobs.

OR, we could quit our jobs and begin new businesses.  I’m on a mission to encourage more baby boomers to begin businesses.

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LG, Haier Might Bid for GE Appliances Unit, Immelt Says (Update2) - Bloomberg
Might 28 (Bloomberg) — LG Electronics Inc. and Haier Group Corp. are among the companies that may acquire General Electric Co.’s century-old appliances division, said Jeffrey Immelt , chief executive officer of the U.S. company. “The players become

BAM FY construction margin around 2007 level; co to buy in NL, UK - CNBC
AMSTERDAM (Thomson Financial) - Royal BAM Group N.V. sees the full year margin before tax at its construction division equalling or maybe lightly surpassing 2007’s 2.3 percent. “The 4.0 percent margin before tax at Construction seen this quarter does

Green is good - Detroit Free Press
Auto companies, retailers and hotels aren’t the only ones hopping on the green bandwagon these days. Companies that sell services to other companies are also getting into the act. And it’s not just architects, engineers and consultants. In Michigan

Steel Partners, Shareholders Oust Aderans’ Management (Update1) - Bloomberg
May 29 (Bloomberg) — Shareholders led by Warren Lichtenstein ’s Steel Partners ousted the management of Japan’s biggest wigmaker as investors in the world’s second-largest economy demand more influence over how companies are run. Chief Executive

China earthquake shows say role in business - Newsday
SHANGHAI, China - China’s devastating earthquake will mean large write-offs for China’s state-run banks. For refiners, it means export profits foregone for the sake of keeping domestic supplies steady. In China, large business means state-owned business

Overseas companies eye GE appliance unit - Louisville Courier-Journal
General Electric Chief Executive Jeffrey Immelt stated yesterday that companies in South Korea, Mexico and China are among the potential bidders for GE’s appliance business. LG Electronics, based in South Korea, is “clearly one of the leading

Iran mulling swap of Repsol, Shell gas projects - Forbes
TEHRAN (Thomson Financial) - Iran is negotiating with Repsol YPF SA and Royal Dutch Shell to to switch their gas exploration blocs in the South Pars offshore gasfield in the Gulf, said minister of petroleum Gholamhossein Nozari. ‘Blocks 15, 16, 20

Fuel prices might rise next week - Hindustan Times
The government is expected to take a decision on petrol and diesel prices next week, officials said on Tuesday as state-owned oil marketing companies mounted pressure for a steep hike in retail prices of the auto fuels. A hike in government

EU inquiry deadline for STMicroelectronics, NXP jv June 27 - CNBC
BRUSSELS (Thomson Financial) - The European Commission said the deadline for its inquiry into semiconductor chipmaker STMicroelectronics’ proposed wireless joint venture with Dutch competitor NXP is set for June 27. The two companies plan to combine

The rush is on for oil, gas rights - Allentown Morning Call
Unsuspecting property owners around the country are getting trampled in an old-fashioned land rush by natural gas companies and speculators trying to lock up long-ignored drilling rights swiftly and cheaply. Stories of fast-talking industry

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