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Old 12-29-2006, 01:44 PM
 
Location: Texas
2,703 posts, read 3,017,109 times
Reputation: 206

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More good news for H-Town.

http://www.latimes.com/news/nationworld/na...eadlines-nation (broken link)

I like this part the best:

Quote:
Los Angeles and most big cities are seeing slowdowns in their real estate markets this year, but Houston's is still climbing: For 34 months straight, area home sales have increased compared with the same month a year earlier. Yet Houston's housing remains surprisingly affordable: The median home sales price in November was $147,000, compared with $487,000 for the Los Angeles region.

The city is on pace to add 75,000 jobs this year, an increase of about 3.5%, or more than twice the national average. Though that growth rate falls short of Las Vegas and a few other large American cities, experts say it is remarkable that Houston's economy continued to expand even after one of its largest white-collar employers, Enron Corp., collapsed from a financial scandal and declared bankruptcy in 2001.
Houston is going strong in the real estate section and is adding in a lot of jobs. The city has bounced back, and heading out further since the Enron collapse.
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Old 12-29-2006, 02:01 PM
 
Location: The land of sugar... previously Houston and Austin
5,429 posts, read 14,028,902 times
Reputation: 3659
The whole Enron situation was (and still is) overblown by the national media.
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Old 12-29-2006, 02:13 PM
 
1,314 posts, read 6,125,947 times
Reputation: 1031
I used to think Enron was no big deal either. However that's not exactly the case. The effects of Enron are still with us. Their powerful lobbying in the late 1990's led to the legislative victories (ie. Utility Deregulation and the establishment of unregulated commodities trading over the Internet) have served to royally **** Middle Class family budgets.

What spawned from Enron, were the many hedge funds and other trading outfits who've successfully employed Enron models to exploit holes in deregulation, attempting to corner markets, utilize offshore trading (ICE) to hide positions and create artificial volatility in order to drive up prices.

Sure, Enron's gone, but we're reminded of their 'accomplishments' every month when we receive our nightmarish utility bills...along with the weekly trips to the gas pump.

I'm hoping legislators will finally close the 'Enron Loophole' so that we can get these markets operating at a healthier equilibrium. This is not free market...this is exploitation. It's not good for consumers and its not good for America.

Last edited by Mr. Football; 12-29-2006 at 02:21 PM..
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Old 12-29-2006, 02:36 PM
 
Location: The land of sugar... previously Houston and Austin
5,429 posts, read 14,028,902 times
Reputation: 3659
Quote:
Originally Posted by Mr. Football View Post
I used to think Enron was no big deal either. However that's not exactly the case. The effects of Enron are still with us. Their powerful lobbying in the late 1990's led to the legislative victories (ie. Utility Deregulation and the establishment of unregulated commodities trading over the Internet) have served to royally **** Middle Class family budgets.

What spawned from Enron, were the many hedge funds and other trading outfits who've successfully employed Enron models to exploit holes in deregulation, attempting to corner markets, utilize offshore trading (ICE) to hide positions and create artificial volatility in order to drive up prices.

Sure, Enron's gone, but we're reminded of their 'accomplishments' every month when we receive our nightmarish utility bills...along with the weekly trips to the gas pump.

I'm hoping legislators will finally close the 'Enron Loophole' so that we can get these markets operating at a healthier equilibrium. This is not free market...this is exploitation. It's not good for consumers and its not good for America.
Oh yes, but I was referring to the employment situation and local economy.
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