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Archive for July 9th, 2009

Meanwhile, in the ATL

Hmm, perhaps Lisa Beth Solanik has her (alleged) priorities straight afterall:

An Alpharetta woman who led Sandy Springs police on a high-speed chase Wednesday night was allegedly trying to light a crack pipe even as officers broke out a window of the vehicle to arrest her. … as officers were breaking the side window of the Santa Fe to take Solanik into custody, she was “in the process of trying to light what appeared to be a crack pipe.”

One for the road now has new meaning.

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BofA, Wells Run Screaming From SoFla SBA Loans

This is very interesting to me. The bottom has fallen out of SBA-backed lending in South Florida, of which Wachovia/Wells had been big a player. BofA and other national banks with less exposure also bailed. And this even though the federal stimu-pork deal increased SBA guarantees to 90 percent of loan value. This was almost guaranteed money, right? Why turn that down?

I submit that Wells/Wachovia and the other big national banks used the SBA loans as come-ons to sketchy small businesses in go-go markets, customers who were then upsold more profitable, “private label” products in addition to the SBA script. In other words, the commercial lending many banks engaged in was as every bit as speculative and unsound as the mortgage biz they created from 2002-2007.

In any event, the truth will come out. Probably in the form of more write-downs.

Update: Commercial real estate won’t get better until 2012 and will lead to more bank failures, Congress told.

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At-Large LPer in City Council Mix

Travis Wheat, who ran for state Senate last November in District 38 and got almost 3 percent of the vote, has filed for an at-large slot on Charlotte city council.

And as expected, Georgia Belk, has filed for an at-large GOP slot.

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…Which is an Argument for a Democrat Mayor.


When Pat McCrory talks to the national media about how “terrible” Charlotte did with regard to federal stimu-pork, is that not lamenting a lack of political pull with the Democrats doling out the cash? There is no merit associated with the process, none at all. Therefore, the best, most direct way to increase the city’s pork pulling power for the foreseeable future is by electing a Democrat mayor in November. Tell me I’m wrong.


One could say, to hell with the pork and the tainted one-time money with strings attached, we’re gonna do what is right for our city with or without federal handouts. And we’re not gonna whine and complain when the money lands elsewhere.

Bonus Huh: More boosting of McCrory to take on Larry Kissell, this time from the Southern Political Report. Take this as a sure sign the consultants are talking up a McCrory run, feeding it to willing outlets to pass on unexamined. How unexamined? McCrory “is likely to run well in the portion of Charlotte and its suburbs that are in the 8th District.”

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July 2009
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