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Non-Tech : Companies that BENEFIT from a recession -- Ignore unavailable to you. Want to Upgrade?

To: Sid Turtlman who wrote (16)	6/19/2006 3:35:04 AM
From: zebraspot	Respond to of 34

Agreed that PRGO is less simple than it used to be. But, the generic drugs, etc., add some pizzazz, perhaps. We'll see. I saw Cramer touted it as a recession play last week. One of my favorite short ideas(via puts) now is CORS. They are deep into condo lending in all the (formerly) hot markets (Miami, S.Diego, Vegas, NYC), and have essentially bet the ranch. Very light loan loss reserves(about equal to just one of their average sized loans), and, unlike home builders, they are in a position(with their developer customers) where they have to throw good money after bad, since you can't really stop construction on a condo tower that is half-built, no matter how busted the market gets. Could be really ugly for them, particularly in the Florida market.