Another Thought...

Not for the faint of heart...ADPT

Another Thought...

WR Berkley 6.75% Trust Preferred - WRB-A
There has been selling pressure in the last several days that has pushed this security down nearly 3% to the 22.60 - 22.75 range. For an income oriented account this offers moderate risk and a 7.50%ish current yield.

Employment in the U.S. - it is really much worse

The facts:
Unemployment rate - 9.8% from 9.7%
Payrolls - down 263,000 from the previous month
Job losses since Dec 2007 - 7.2 million
September 2009 was the 21st month in a row of shrinking employment. While history for this data only goes back to 1939 this is the longest losing streak since the government started keeping track in 1939.
But it really is much worse...
The household survey - which seeks to determine whether or not people are working by asking them about their individual job status rather than asking companies - for September was a staggering job loss of 785,000.
But it really is much worse...
The impact of the severity of this recession, coupled with the weakness of the 2002-2007 expansion, is that private employment is below where it was at its December 2000 peak. It has not been a great start to the century.
But it really is much worse...
Many consider U-6 as a more reliable indicator of the employment situation. U-6 reached a new peak of 17% in September, up from 16.8% the previous month, and up from 10.6% a year earlier. The Bureau of Labor Statistics' U-6 tracks part-time jobholders who really want a full-time job but can not find one as well as "marginally attached workers". In real numbers it looks like the following:
Marginally attached: 2.2 million
Invountary part-timers: 9.2 million
"Formally unemployed": 15.1 million
The total is 26+ million people not going shopping, not eating out, not taking their families out.

Now this is real golf!

This is the Extreme 19th hole on Hanglip Mountain at the Legend Golf and Safari resort in South Africa.

Sergio Garcia (red shirt) and Retief Goosen (white shirt) play the hole. The tee is on top of a mountain and at 470 yards the tee shot on this par 3 is reportedly the hardest golf shot in the world. A $1 million prize awaits the player who can score a hole in one.

Players must take a helicopter ride to the top to play the longest and highest par 3 on the planet. The tee is set close to the edge of the mountaintop and the hole is so high the ball takes almost 30 seconds to land.

The hole is based at the Legends Golf and Safari Resort within the Entabeni Safari Conservancy in South Africa's northeastern Limpopo province. The other 18 holes were designed by world golfing legends including Trevor Immelman, Sergio Garcia, Padrig Harrington, and Robert Allenby.

A round of golf is under $100; but the Extreme 19t hole will set your foursome back roughly $950 and includes the helicopter ride souvenir hat and glove, and a DVD of you playing the hole.

So far no one has come close to a hole - in - one, but Padrig Harrington became the first golfer to par the hole. Harrington said: "This is the type of innovation and excitement we need to get more people playing golf." Just like we are going to jump on the next plane to South Africa -right! In addition, Padrig was quoted "I think this hole is awesome - I love the whole experience, the helicopter, the views, the drama, and having the green the shape of Africa. And I've got bragging rights over all the other professionals who have played this and not managed to make three."

Let's go .... any takers?!