Vultures Are Swarming Around Houston Distressed Real Estate

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Vulture investors are swarming all around distressed Houston real estate. Because of course they are. Elsewhere, folks are beginning to worry about the effect of Amazon's ($AMZN) increased push into fashion: will it rock retail real estate even more than it has? With seven private labels now, Amazon is rumored to expand into sportswear, going directly after Nike ($NKE) and Under Armour ($UA). Query what level of data Amazon can leverage from usage of its AWS to crush its (new) competitors.

Hartford Connecticut is F*cked and Houston/Dallas Are Dealing

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Hartford officials are turning over rocks looking for loose change at this point as they try and plug a projected $40mm budget shortfall. Anyone know which law firm they've hired for the inevitable Chapter 9? If so, email us! Speaking of bad municipal situations, it looks like Dallas and Houston will get a temporary reprieve financed on the back of pensioners. At least there is some sensibility being baked into "return" assumptions. We bet the numbers will still be way off. They always are.