"NCRS Certified"

[Norris W.]

Re: "NCRS Certified"

I'm always curious about the people with the big collections.......... what their background is. I've never been able to find anybody who knows anything about Ron Pratt, but a biography would be interesting to me (at least the short version).

I'm also curious about Don Wallace, conspicuously abscent this year, but the guy who was biddin' against Ron on the 5 Mill. Cobra last year, and who usually buys millions out there himself. He's the guy that always has two young kids on his lap......... assumed grand kids, but On the Block re run recently described them as his children.

Other guy I've wondered about, also missing this year is the one from Knoxville that's always got the Tenn. Vols baseball cap and buys the big money stuff.

Last one on the list would be the one in the sky box this year that bought the matching serial numbers 53 and late model, and was bidding on the '09 ZR1. I think he ended up buying it. Seems like he was more of a Corvette guy than the other big money bidders.

[Pat L.]

Re: "NCRS Certified"

To find out more about Ron Pratte go to:
www.encyclocentral.com/16407-Ron_Pratte_Business_Tycoon.html

[Eric J.]

Re: "NCRS Certified"

These guys are on the air a lot of hours and have to comment on 500+ cars. Sometimes they get it wrong. Tough job talking for a living especially without a script. They were very good at correcting there mistakes when someone let them know they were wrong.

[Norris W.]

Re: "NCRS Certified"

Perhaps, but they stedfastly stuck to their "matching numbers" comment and written header throughout the weekend, and I now know of at least 4 e mails they got on it.......... surely there were hundreds or more.

[Eric J.]

Re: "NCRS Certified"

What is the definition of matching numbers? Theirs -vs- yours?

[Roy S.]

[Dick W.]

Re: "NCRS Certified"

Although I did not watch the entire auction, I did not see any blue ribbons and Top Flight certificates displayed on dashes as cars were presented, as in past years. Occasionally, the commentators did say a Top Flight had been achieved.

[Mike G.]

Re: "NCRS Certified"

the problem is we are in a recession. politicians dont like to say it but we are. you also have to look at real eatate and the stock market.nothing is doing good right now. nothing brings as much money durring a recession. most of the people with the good judged cars did not bring cars to the sale for that reason. selling high dollar cars durring a recession at a no reserve auction... no thanks

[Loren Smith]

Re: "NCRS Certified"

Great post, Roy. I DVR'd most of the auction, to fast forward through the commercials. I thoroughly enjoy watching it every year, as a car junkie. It's like the internet - I read certain things for their entertainment value, even if not 100% accurate, as the topic is something I enjoy and I can do my best to filter out the misinformation. What else is there to watch, anyway, with the writers strike and all the reality shows?

[Jack H.]

Recession...

If my econ memory is correct, the official definition of a recession is two consecutive quarters of negative growth in the GDP. While quite a few are predicting this will happen, I don't think the facts merit the statement we ARE IN a recession....

[Mike G.]

Re: Recession...

the only group making money is the oil companys. every other area is flat or slow. people are not spending money this year like they did last year.

[Duke W.]

Re: Recession...

Jack is correct. The textbook definition of a recession is two consecutive quarters of negative GDP growth. That said it's tough to confirm that a recession has occurred until after it's over.

In the past decade we've gone from stock market bubble to corporate governance scandals to housing bubble - ALL OF WHICH were caused by Wall Street greed and poor government policies with John Q. Public as an easy mark for all the scams. If you drop interest rates to nothing to ease a recession and ecourage people to trade houses frequently with tax policy, you just build up a lot of debt, which will affect the next ecomonic cycle, and we are increasing private and public debt at an unsustainable rate.

Something has to give. For now the dollar, housing, and the stock market are dropping precipitously, and oil prices have reached new highs. There will be more fallout a from decade of bad bad policy and greed, none of which appears to be changing.

Recessions are a necessary part of the economic landscape, just like a tree looses its leaves in the fall and regrows them in spring. People do stupid things in good times like pay too much for assets and take on too much debt all of which is exacerbated by greed and bad public policies. A recession is necessary to purge these inefficiencies from the economy, but if too much "ease the pain" policy is implemented, the inefficiencies don't get purged and you set up a scenario for the next recession.

And when you have policies that encourage speculation (as is the case with the the stock market's low margin requirement and cheap money from Wall Street's "shadowm banking system" while the bond raters like S&P and Moodys sit on their collective asses and give junk securities investment grade ratings) you get bubbles that grow and burst and repeat until the policies are changed to something that discourages speculation and encourages stability.

Sooner or later everyone has to pay the piper for their bad decisions and bad policy - both private and public.

Duke

[Paul L.]

Sorry Jack

I think the US is in a recession. Even here in Canada with my conservative, long-term investments mostly through the TSX (Toronto Stock Exchange) I have lost all of my 2007 gains as of today. Hardly a dooms-day situation but very discouraging as to my retirement, pension back-up funds. I'm hunkering down on discretionary expenditures.

That US sub-prime matter is spilling over into Canada. Not as bleak up here but the effects are being felt.

[Bud K.]

Re: Sorry Jack

It's being felt here in OZ too! Wish you guys would get it setteled soon!

Bud.

[Jack H.]

Catch-22

"For now the dollar, housing, and the stock market are dropping precipitously, and oil prices have reached new highs."

A gossamer fact many miss, is that international oil prices, by convention, are pegged to the US dollar. It's like English being the official language of the skies. Soooo, when the USD drops relative to other major world currencies (Euro, British Sterling, Etc.), the price of oil MUST rise to maintain a constant real value.

It never ceases to amaze me how often the general public and the working media simply miss basic economic facts....