Happy St. Patty's Day!
Happy St. Patty's Day to all. Sorry for the late post. No, I wasn't getting drunk and rambling down the street loud and belligerent, like so many that seem to be roaming the streets tonight. This has been a week of dramatic changes and for not taking things for granted. On occasion we are reminded not to take things for granted. This week there were numerous reminders. Spitzer's career was over in a New York second when his lust for prostitutes was revealed. Bear Stearns' 85 year legacy of never losing money collapsed inside of a week and it's stock price sank 95%. Finally, I lost a good friend, Paul Ferrigno, to heart failure at the senseless age of 40-leaving behind 2 beautiful young children and an incredible wife. Paul was the consumate man. An established professional, a fantastic father, and a spirit that lit up every room that he walked in to. His love and his willingness to display it openly to his friends and family was an inspiration to all. I spent last night and today at a wake, funeral, and luncheon for my old pal. His spirit will continue to burn bright in all of our hearts.
I'll be back tomorrow blogging on the impact of the collapse of Bear Stearns, the expected fed rate cut (of up to 1%), and the impact of recent events on local real estate prices.