Redfin layoffs

If you've not heard already you really need to read this: http://forums.redfin.com/rf/board/message?board.id=LA_OC&message.id=3042#M3042
Redfin is the type of real estate company that consumers have craved for. They are transparent and upfront about everything even when news is sometimes not that good, or in this case, lousy.
I just hope they are able to continue with what they are doing because I'd hate to have the few options homebuyers have had in the past.
Good luck Redfin.

After reading this I came upon a blog in Redfin where the CEO posted about the layoffs:
http://forums.redfin.com/rf/board/message?board.id=LA_OC&message.id=3042#M3042
His comments are as follows:
The reductions were mostly focused on our Seattle real estate group and our marketing department. We have grown revenues nearly 50% this year, and increased market-share by more, but our Seattle business has not grown as much, and we anticipate that overall transaction volumes will not increase as much as we had once hoped, prior to the credit crisis.

That said, our Southern Calfornia business has grown, turning a profit for the first time, and now shows signs of sustained increases in revenue even through the downturn.

We aren't trying to whitewash a setback in our business, or minimize the pain it caused our former colleagues. We of course recognize that startups lead perilous lives that could end in unexpected ways. But we do think our Southern California customers should know that business in this area has increased beyond our expectations, that Redfin overall has out-performed the market, and that we are well-equipped and well-capitalized to be a stable long-term partner.


Regards, Glenn

Glenn KelmanCEO, Redfin

AIG- Arrogance, Impudent, Guilty

Perhaps the title more aptly describes what AIG stands for.
If the thought of your IRA or 401k or investments losing a lot of money lately doesn't piss you off enough already here comes a story from the AP press today about AIG:
http://ap.google.com/article/ALeqM5iCBEplezRU4MUlI3wKRd0IZ9GCgQD93M2CP00
Seems an 85 billion loan from the taxpayers gave them a new lease on life and what better way to celebrate..I mean..collaborate on how to spend it then to go the most expensive place you can and spend $440,000. You read that right. Sickening. These people don't live in the same world as you and I and still can't accept reality. They spent $23,380 on spa treatments alone. Even Charlie Sheen couldn't spend that much on hookers. Give me a break. What do you think?