and before you know it, we're talking about real money.
Randy Sebastian has filed for Chapter 11 (news in the Oregonian, nothing in the Bulletin.)
I thought one very revealing remark was:
"By then, real estate sales slowed across much of the country. But Renaissance's honeymoon continued into early 2007.
Renaissance sold 116 homes in the first quarter of that year, its biggest quarter ever. In February alone, it sold 48 homes for nearly $30 million in revenue.
"Nationally, we heard sales were going down. Our sales were up," Sebastian said. "We were thinking, man, Oregon's going to survive this."
Hey the invaders have pillaged and torched the next village over, but we're fine. Don't bother to man the ramparts or close the gates!
I mean....what a doofus!
I'll say it again -- the damage is done behind the scenes and when you ain't looking. But the time it reaches the point where the public notices, the closing of doors, the clearance sales, the damage is done.
After watching the sport card, comics, magic, beanie babies, pogs, pokemon bubbles burst, I'm just a tad risk averse.
You can't stop working it, though. I've pretty much decided to pursue the books angle in my store, and just ordered a huge number of new books. More about that later on the Pegasus Blog.
(After the preceding, I realize the last paragraph is a bit contradictory. So I thought I'd try to explain myself. Because of the way billing works, because I have a certain amount of money to spend for Christmas, I'm ordering the bulk of my estimated material earlier rather than later. If I'm going to be getting xxxx amount of material, somewhere between now and late November, but the Christmas is going to pay for it either way, I may as well get it now.)
17 hours ago