Our blog is about keeping builders with growing inventories that are being beaten on by the banks from stepping in it.The sole purpose is to have a place to tell your story and to read those of others. We do not want to bash, but to make a place to see there are others out there. Share the stories and methods that worked and ones that brought on more headaches….the ones that did not. We have lived through some pretty tough scrapes by holding strong. Not wasting precious resources by fighting the institution or defending the act of not paying our obligations, but by showing the aggressors that this is not a market that any one builder or person caused. Showing them that we did not cause this and that we share the problem with the banks. It is up to them to notice that we are not going to just roll over because they beat on us. Stand tall, help your brothers stand tall, and for Petes sake, when they take swings at you, don’t just take it. Push Back.Post your story under one of the topics and share your story, you can remain anonymous but please, take the survey, share some of the tools that worked for you to keep alive.


Tuesday, September 9, 2008

The Street.com

This web site is pretty cool. Go to http://www.thestreet.com/, strongest and weakest banks. Hit portfolio and tools, then banks & thrifts screener.
This will allow for some light studies in case you get curious about your institutions.
Since 3rd quarter reports are not out yet on it, you can look up your favorite bunch and study their strength.
Ours are….
Golf/ Sterling looking poor on cash, but decent assets. Keeping them C- but Sterling a D. Fraud, or mis management, or better yet…greed? I hope that accusation puts them right on the regulator list after 2nd quarter. West Coast look OK on cash, BAD assets. Which affects rating to a D, way to go boys. They forced us out of 2 projects. Lets see how they fare now. Columbia Community actually looks ok (but they were lying in the 1st qtr BAD) with a B-, Weak on liquidity but ok assets. Well, since they took us into Receivership this month, I say that rating may deserve to drop a few. Heads are gonna roll.
Pinnacle Bank, who participated with Columbia on a lot of our stuff gets a big ole D- for their operation. Bad assets AND no cash. This one can only get worse. My guess is they were instrumental to the threats and Receivership driving us out of our projects. Good. Wafed looking the best at A+ in first qtr. They did the most to get their people through the tough times. 2nd qtr will bring that down a bit but they look solid and were not too bad to deal with, great assets, no cash.
Banner Bank gets a C+ with OK assets and Liquids, working with us and refinancing a project, the ONLY bank doing this.
Anchor Bank Fetches a C in the first qtr, hmm. Wait til they get a bucket full of what they are kicking our butts for. Can you say DOWNGRADE?
Homestreet did not choke our bad assets down until 3rd quarter so they get to enjoy a B- for a while longer. Right between the eyes. Yes, methinks that one gonna fall too. Ok on assets, low on cash. Liberty can suck it. They get a D for BAD ASSETS and Low on funds AND BAD management. They got greedy and they need a slap on the forehead hard enough to leave 3-4 finger marks, welts. And to think, they are still getting to hide 2nd and 3rd quarters….Keep an eye out as they post 2nd quarter soon.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
My photo
Portland, Oregon, United States
We have built homes and developed land. Now we fight to survive. Please take the time to vote on the poll. Please visit the builders forum. Please email me a story. Have a great day.
"Lets face it, times were good, and we all made hay. Now we are creating our own versions of our 80's stories, you know the ones the silver haired guys told us about 5yrs ago"