Comments
Max,
I actually took your advice and picked up a few bottles of the Nouveau...you are right, it actually tasted like a real wine this year. Thanks for the recommendation.
Great point Larry...unfortunately for the turkeys, they all have the same ending to the story...and Happy Thanksgiving. :-)
Based on several conversations with several SBA folks recently (including Mark and Steve that Dianne referenced above), the reason that the Reliance Letters are so strict (as well as the indemnification agreement) is that over the years, the SBA has been left "holding the bag" on many properties that have environmental issues. Up until the SOP was updated in 2008, the legal language of both these documents were left to the various SBA and lender representatives to negotiate. This led to many discrepancies.
Based on the number of potentially contaminated properties that the SBA is being called in to review in liquidation that were completed prior to the current SOP being used, I don't think these documents will be amended significantly any time soon.
- posted October 27, 2010 in Environmental Home Health
It would seem to me that there is more dangers associated with holding a phone near your head all day or the pesticides being used at the golf course than by the towers. I agree that EMF towers have had numerous studies associated with them. The potential eyesore factor might be a bigger issue.
Love those cell tower "trees" along the highway that look like a build it yourself Christmas tree with the branches sticking out.
This is good news for the lending and real estate industry. A viable securitization market is vital to a recovery. Let's just hope that the underwriting standards remain strict. What's your prediction Larry?
While I understand your response, I think it adds much more complexity than necessary to the point that I am trying to make. From my personal experience, 15 years ago I purchased a Compaq computer with a 486 processor for about $1500. It had few bells and whistles and it basically allowed me to do work, browse the internet slowly (with my 56k dial up modem and $19.99/month AOL membership), and play a few games. Just recently, I bought a laptop with tons of memory, a built in camera, built in wireless, and so many more features for $450. I can do so much more with this machine than the one 15 years ago so for the utility of the computer from my perspective (the customer), the pricing has decreased.
As far as due diligence goes, I agree that professional services have not undergone the same pricing pressures as components have (thankfully for us professional service providers), but the actual time to gather information has been decreased due to techological advances and competition. Therefore, the total hours of production have decreased, which results in lower costs. Also, through many dynamics in the industry, the actual spend on due diligence has decreased due to many alternatives to Phase I's being offered that were not used in the past.
You apparently discovered the "magic" that Disney brings to people. I agree that it is an amazing place and that they make people so happy. It is a very special place and I am glad that you and the family enjoyed it. I wrote a blog about a book I read several years ago ( I don't think it is still posted) that discussed how we can learn things from the Disney way. The book was Creating Magic - 10 Common Sense Leadership Qualities from a Life at Disney by Lee Cockerell. It is a great read and really shows the mindset of the Disney enterprise. The key is getting everyone thinking the same way and believing in what the company is doing. Disney has mastered this for sure.
Of course, any time a company can bring a huge smile to our children, it definitely helps mom and dad enjoy it that much more.
They only have negative connotations when they are taken out of context. I wasn't referring to everyone in this post.
My point was that there continue to be unsophisticated or novice users of due diligence products, competition and technology are forcing change, and there are now more ways to manage risk than in the past. Many of the lenders I work with actually acknowledge their lack of understanding of due diligence which is why they partner with people that do. It is actually an opportunity for many us in the industry.
As I stated at the beginning of my original post, this post was meant to spark conversation so apparently it worked.
However, I take great exception with your last comment. As a former colleague, you know that I would not do that. I have been fortunate to work with and for environmental consultants and lenders for most of my career and have tremendous respect for both of them and the work that they do and would not insult them or their industries.
I actually agree that many of the folks on this site are aware of the mature industry but this site only represents a small sample of environmental consultants in the overall environmental industry. And you help make my point stating that the EP's on this site are trying to improve their product and reduce their costs. This leads to a better product at a lower cost. I never stated that the product quality is decreasing, just the cost to produce and deliver it.
I was thinking about this blog from the spring and unfortunately, many of the things raised are happening now. Here is one example of when the SBA funding dries up. I am curious what members think is going to be the "thing" that pushes the economy forward that doesn't involve stimulus money...
http://www.linkedin.com/groupAnswers?viewQuestionAndAnswers=&discussionID=23592313&gid=121893&trk=EML_anet_qa_ttle-d7hOon0JumNFomgJt7dBpSBA