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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (12413)	4/8/2001 11:26:37 PM
From: pbull	Read Replies (1) \| Respond to of 13572

Jim, thanks. If you understand that, then you should be on the House banking panel because they sure don't seem to get it. OK, my big point No. 2 is I read recently (don't remember where) that there is now 3.5 million square feet of vacant office space in Silicon Valley. Let's analyze this. In my town, little more than a wide spot in the road, we have, or shortly will have, two mall anchor tenants, a major grocery store and a big, fat Kmart all standing vacant. I estimate those four properties total about a half-million square feet. If they don't, I can throw in a closed Western Auto. My point is, to me, 3.5 million square feet in the entire Valley just doesn't sound like much. What's important here, I think, is the trend. I will bet you 10 dollars that at the bottom of this recession, the amount of vacant office space in the Valley is going to be a heck of a lot more than it is now. And, lest we forget, Boston is the mutual fund capital of the world, yet I've only heard of a trickle of layoffs in that industry. Want to bet me again on that trend having only just begun? That's what I'm thinking, anyway. No such thing as a sure thing, of course, but with the short-term debt problems that some of the big, household-name telcos and utils are having, we're still closer to the beginning of these trends than we are to the end. And I didn't even mention Japan's banks and insurance firms. Only my opinion. PB