Hurricane Bernie Slams Palm Beach

Sunday afternoon there were supposedly four multi-million dollar condos at Breakers Row already put up for sale by Hurricane Bernie casualties forced to evacuate. Partly true. A real estate broker pal of mine told me on Monday morning there were actually only two on the market, one at $7.6 million and the other at $8.6 million.

By Tuesday morning it was good news for both broker and seller of the Breakers condos. Both were under contract at almost their full asking price. Somewhere, someone has some dough left. What is true is that Hurricane Bernie will have a long term effect on the fabric of Palm Beach life—financially, socially and philanthropically.

via I Survived Hurricane Bernie – The Daily Beast.

Palm Beach In Shock Over Madoff

bebBelow is a piece that I posted on Huffingtonpost.com yesterday. About ten minutes after it went on line, the metropolitan editor of the New York Post emailed me about running it and it’s on page four in Saturday’s paper. The piece has reacted in a full range of opinion, from overwhelmingly positive to outrage. I’m trying to understand why some people are so upset. And as soon as I have a full grasp on this I’m going to publish again at Huffingtonpost.com and put it in my personal blog as well. (Thanks to Randy Marks)

via THE WAGES OF WEALTH.

Wretched Excess At Sea

Measuring Wealth by the Foot – New York Times
megayachts-stmaarten0208w.jpg Over 20 megayachts in this picture, taken last month in St. Maarten. There are 4 times more that aren’t in view. There are no signs that demand will slacken. “There are 2,000 superyachts in the world today” over 120 feet long, “and nearly 200,000 people who could afford to buy them,” Mr. Beckett says.

The arms race in yachts echoes the competition among business titans in the last century to build the world’s tallest skyscraper.

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