Entry for October 05, 2008

Things are pretty topsy-turvy in the SEC East with traditional powers Florida and Georgia having already lost a conference game. Tennessee has lost two. Vanderbilt just keeps rolling along after last night’s 14-13 win over Auburn. Kentucky traveled to Tuscaloosa to take on #2 Alabama and lost for the first time this season 17-14. It was a defensive struggle and the Cats gave a good account of themselves. It was a good experience for Kentucky’s young offense. UK next has South Carolina and Arkansas, both in Lexington.

Terrelle Pryor scored with 1:08 left last night as Ohio State won in Madison 20-17. It was the first time I had gotten to see the Freshman phenom play. Being behind late on the road against a tough Big 10 foe didn’t phase him a bit.

We had a nice boat ride on Cave Run Lake last Saturday. Two of my work associates have boats docked there, one a house boat, one a sail boat. They invited their colleagues out to the lake for a get-together. Lots of fun. Thank you Brandon and Michelle.

With some nice autumn weather this past week, I was able to get some outdoor chores done, mostly painting.

Has the credit crisis bottomed? A lot of people have been premature in buying stocks this year, thinking the worst was over. I was encouraged by the fact that Wells Fargo made an offer for Wachovia that trumped what Citigroup planned to pay. There may be litigation on that for awhile, but the point is, Wells Fargo, who currently might have the best management of a big bank in the US, thought Wachovia was worth more than the “fire sale” price it was going to Citigroup for.

There is a lot of fear that National City may be the next big bank to fail. But, action in its stock this week indicates that smart money thinks it may survive. NCC is a good one to watch to get the market’s general perspective on things.

I frankly have no idea whether the government bailout is good, bad, or indifferent. It probably depends a lot on the details of how the money is spent.

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