April is inviting you to come aboard the Queen Mary free of charge to kick off the 40th Anniversary celebration of the ship’s 1967 arrival in the International City. 

The free admission will include the self-guided Shipwalk Tour, highlighted by a new chronological look at the ship’s 70-year history titled “Queen Mary Historic Exhibit: Her Story is History.  Present your driver’s license or a Long Beach business card or utility bill accompanied by a photo ID. This invitation is for individuals (not groups) and is available only at the Queen Mary ticket booth during normal attraction operating hours from 10 a.m. to 6 p.m. daily. The tickets must be used the same day as purchased. The offer does not include parking, but free Passport Shuttle service is available from various downtown locations. A nominal fee will be charged for those wishing to book guided tours, the Ghosts & Legends Show, the Russian Submarine Scorpion or other ticketed attractions.  For more information about Queen Mary activities, call (562) 435-3511.

I was reading an article on the Press Telegram about the growing oppositionj against the container fees.

It just seemed odd that we pay more attention on companies that used the harbor and other far away places when we should consider first our health and concerns locally.

The new comer is Chamber of Commerce in Hawaii claims that the fee would raise prices in Hawaii. Great, have we told you about our congested highways, accidents, deteriorating health problems and all?

This fee would be good if, and only if it really goes 95% or more directly here to curb pollution and highway congestions. Big companies that use our harbor, pollute our air, congest our highways should try to work on their own, without having to be imposed a fee to self-regulate themselves.

It just seems the officials pay more attention to those big companies and other far away places when we have a direct problem, right now, right here.

From a gray morning from sunny Southern California Long Beach, that quote attracted my eyes this morning. It is by Stephen S. Roach, Managing Director and Chief Economist of Morgan Stanley, Mar 16, 2007

Stephen Roach believe sub-prime is today’s dot-com. Having gone through the late 90s dot com, I started thinking about the similarities. Obviously, the wild enthusiasm and lack of future foresight are the ones that jump to mind.

This time around, the repercussions have concentrated in a relatively small segment of the market, theoretically as the dot com. But with sub-prime mortgage debt up at around 10% of total securitized home debt.

With a sub-2% GDP, we are dangerously close to a pullback in personal consumption which could breaks this camel’s back. Definitely, 2007 will be a very interesting year that will test how passionate we are about our vocation, real estate agents.

Thanks Calculated Risk.

A total of 31,228 new and resale houses and condos were sold statewide last month, down 3.7 % from 32,425 in January, and down 21.3 % from 39,676 in February 2006. To be fair, sales usually decline between January and February. The year-over-year sales decline peaked last September at 34.5 %.

We witnessed the slowest February since 1997. The median price paid for a home last month was $472,000. That was up 2.2 percent from $462,000 in January and up 3.4 percent from $456,500 for February a year ago. The median peaked at $480,000 last June.

Thanks Calculated Risk

Though, homebuilder exchange traded funds (ETFs) are in for a bumpy ride. D.R. Horton’s President Donald Tomnitz believes the homebuilding market will not be bright for the next 12 months. In addition, his prediction is that new-home prices will continue to decline due to the inventory still on the market, which is obvious. Joanne Von Alroth for Investor’s Business Daily reported Horton’s own production is down 35% in 2007 from last year, from 40,000 houses to 26,000. DHI makes up nearly 5% of the SPDR S&P Homebuilders (XHB). XHB is down 9% for the year.

Other news in the industry has not been promising, as subprime lender New Century Financial (NEW)announced it didn’t have enough cash to pay creditors. The good news is a rebound should build up over the next few years.

Thanks ETF Trends

Tomorrow you can learn more about the intriguing Basque sheepherders and their impact on the West.

I have always been fascinated with this group of people. Being half French, France is cornered by three explosive groups, the Corsican and people from Nice in the South East, the the Brittanians and the Basque. Each have a very, very strong identities and do not always consider themselves French. The Basque is not only an intriguing ethic group but it’s language is unlike most others.

On Saturday, March 24, learn about the history and culture of the Basque sheepherders who once worked at Rancho Los Cerritos and other ranches in California and Nevada. Unravel the mysteries of the aspen tree carvings they left behind in this fascinating lecture by Dr. Joxe Mallea-Olaetxe, University of Nevada Reno.
Gates open at 9:30 a.m. on Saturday, March 24, and the lecture begins at 10 a.m.

Cost is $5, $3 for members and full-time students, and includes coffee and breakfast rolls. Please reserve your seat by calling the Rancho.

The Planning Commission approved the SeaPort Marina redevelopment.

A few weeks back I talked about this and raised concerns many people voiced about how the development will influence traffic on the already congested 2nd Street and P.C.H. as well as a center that would not have enough parking space and probably will not look llike anything that belongs in Southern California.

During its March 15 meeting, the Long Beach Planning Commission approved a mixed-used project on the site of the currently “deteriorating” SeaPort Marina Hotel, at the corner of Pacific Coast Highway and 2nd Street.

Dozens of area residents spoke out against the development, which features plans for 425 condominiums and approximately 170,000 square feet of commercial space.

Long Beach Business Journal

North Long Beach has been receiving a lot of attention lately, and many official groups are starting to focus on this part of town, in depeserate need of revamping.

The RDA will select a developer for the north village center.

During its meeting, the Long Beach Redevelopment Agency (RDA) Board considered approving a six-month exclusive negotiating agreement with AMCAL Homes Inc. for the development of the North Village Center project.

AMCAL, is a Civic Enterprise Development Inc. and Phoenix Realty Group, propose construction of 199 residential units targeting first-time homeowners and 42,700 square feet of retail along both sides of Atlantic Avenue.

Long Beach Business Journal