Thinking of taking the plunge...

[Red Clay Rambler]

I certainly don't think investing in our infrastructure is a bad idea. Building/rebuilding roads and schools is a good way to put alot of people to work. How to pay for it is what bothers me,I'm all for cutting out other government programs and redirecting those funds into the "new deal" programs would get my support but unfortunetly we all know that isn't gonna happen.

What would be one of the main materials used in infrastructure developement/maintenence? Concrete.

What substance is widely used in concrete? Fly Ash.

Where does fly ash come from? Coal combustion. (coal-fired power plants, etc.)

What industry does Obama proudly admit he intends to bankrupt by imposing crippling regs? Coal.

Guess we'll buy the ingredients for concrete from overseas.

I'm guessing most of the UMW union voted for him anyway.

[merrick4]

I've heard many business finance(GE capital, etc..) will not give you financing unless you have 2-3 years experience as an o/o.

Around June or July I think it was, I got a trailer through GE capital with only about 1 year in business. However recently just bought another trailer and they denied me along with most others. Lending has seemed to come to a stop.

I did end up getting a loan through Pinnacle, but the guy at Wabash said I was very lucky and the only reason I got a loan was due to good personal credit.

I got the truck with my local bank. (Suntrust) (My third with them). It was pretty easy too, but they said it will start to get harder. Best bet right now would be to go with your local bank.

[2]

I googled it, and the first result was a conspiracy theory nutjob left wing website.

Was that you that changed my title?
You have me at a disadvantage.
Please change it back.

You have attained the position of a leader.
Will you rise to the occasion?

Time will tell whether you grow into the job, or suffer the Peter Principle.

[Rev.Vassago]

Was that you that changed my title?

Nope. I changed your title quite a while prior to that.

But since you want to complain about the title you've been given, I will change it to nothing at all.

[GMAN]

What would be one of the main materials used in infrastructure developement/maintenence? Concrete.

What substance is widely used in concrete? Fly Ash.

Where does fly ash come from? Coal combustion. (coal-fired power plants, etc.)

What industry does Obama proudly admit he intends to bankrupt by imposing crippling regs? Coal.

Guess we'll buy the ingredients for concrete from overseas.

I'm guessing most of the UMW union voted for him anyway.

Government regulations are a primary reason so many of our industries have moved facilities over seas. This guy doesn't seem to have a clue. The next 4 years should prove to be very interesting. When I first heard him state this about the coal industry I couldn't believe my ears. A presidential candidate actually boasting that he plans on killing one of our primary industries. Hundreds of thousands of workers will be put out of work. If he is successful it will cost us billions in additional costs for our infrastructure, not to mention the extra cost of electricity. This is just what we need, greater unemployment. It is statements such as this that I could not understand why people would so blindly vote for him.

[GMAN]

Around June or July I think it was, I got a trailer through GE capital with only about 1 year in business. However recently just bought another trailer and they denied me along with most others. Lending has seemed to come to a stop.

I did end up getting a loan through Pinnacle, but the guy at Wabash said I was very lucky and the only reason I got a loan was due to good personal credit.

I got the truck with my local bank. (Suntrust) (My third with them). It was pretty easy too, but they said it will start to get harder. Best bet right now would be to go with your local bank.

One of the banks that I do business is Suntrust. I just found out that they are planning on charging non customers a fee for cashing a check drawn on their bank after the first of the year. They have also just started charging me an analysis charge on my corporate checking account. Although they have told me otherwise, I think that they are either having financial difficulty or getting ready to be bought out. I knew when Wachovia started to charge for cashing checks that they were in trouble.

Suntrust told me a few months ago that they were going to tighten up credit policies but were going to continue lending money. It has always been a fairly conservative bank. They also told me that they were in better shape than many other banks due to lending money on deposits rather than borrowing from the Fed.

[Red Clay Rambler]

Mike,

FWIW, I'm pretty sure I heard that Suntrust did indeed receive some bailout money. I think you posted here some time ago that they told you they didn't, they were OK without it. But I'm pretty sure they did.

Edit- Here is a link:

http://www.naplesnews.com/news/2008/...bailout-funds/

And yet another seeking more funds:

http://www.ajc.com/metro/content/bus...k_bailout.html

[merrick4]

Suntrust did indeed get some of the bailout money. However I don't think that should indicate their status. I heard the CEO of Chase the other day in an interview and someone made the comment that there were many banks that were asked to take the money that didn't need it. I guess this was done so as not to single out just the bad ones (and the stygma that would go with it.)

I don't know how good Suntrust is. You know these companies swear up and down that they are stable and next day they are bankrupt. It seems like everything we are told is one big lie anyway.


Personally I have been with Suntrust for years and am happy with them. Jim Cramer was railing about them the other day (Sell Sell Sell!) but who knows.

There were rumours many months ago that Chase was going to buy them but I'm sure that is off the table now.

[GMAN]

Mike,

FWIW, I'm pretty sure I heard that Suntrust did indeed receive some bailout money. I think you posted here some time ago that they told you they didn't, they were OK without it. But I'm pretty sure they did.

Edit- Here is a link:

SunTrust says it will receive $3.5B in bailout funds : Business : Naples Daily News

And yet another seeking more funds:

SunTrust seeks $1.4 billion more in bailout funds | ajc.com

Thanks for the link. When I spoke with my local branch they told me that they were stable and loaned money on deposits rather than borrowing from the Federal Reserve in order to make loans. I wasn't too sure about it at the time but went along with it. With the new fees they are charging, I think they may be in trouble or perhaps getting ready to sell out. They could be attempting to get profits up to sell at a higher price. Suntrust has gone through several ownership and/or name changes over the years.

[heavyhaulerss]

Credit unions are the safer bet.