• Bike News you can use

    by  • October 1, 2008 • too random • 31 Comments

    Shelley Olds bike stolen, then found … but still down a bunch of equipment

    shelleyolds_ridetheworldcup_bykenconnely.jpgCheck it out folks, Shelley Olds is a local San Jose Hellyer Velodrome phenom.  She’s a homegrown, grassroots talent who has a MASSIVE shot at making the 2012 Olympics in London.

    She is preparing for the US Nationals beginning in a couple days and had one helluva scare when her BMC PRO track bike was stolen.

    Fast work by our internet/cycling community GOT THE BIKE BACK!!! But, she’s still down a ton of resources as her other key cycling gear was heisted and not able to be returned.  We’re talking about a lot of very specialized racing equipment that was stolen and needs to be replaced.

    Any chance you’re someone who could help a young, hungry star of our region?

    proman_supportshelleyolds.jpgShelley was just the winner of the SF Twilight Criterium (USA Crit Series) and has performed in such California classics as Sea Otter, the Tour of California Women’s Criterium, the Giro d’ San Francisco, and much more.

    Her team, PROMAN Racing puts on fundraiser velodrome races to support the teams expensive travels around the world to participate in international events … so, you can see it’s shoe-string stuff at times.

    Help out if you can.  Karma follows you around, yo.

    - – - – -

    Speaking of YOUR LOCAL VELODROME …

    helyer.jpgThe Northern California Velodrome Association is having their 2009 Board of Directors elections SOON!!!

    You can participate! 

    Become a member of the NCVA and vote in the upcoming election.  You have a voice in how your community will move forward!

    As a Board Member myself (but probably not running for next year’s Board), I can tell you there are many, many issues coming up next year for us cyclist that are both exciting and challenging.  I’ll be posting more of my thoughts (like my HUGE support for Cathy Morgan as a candidate!) in a later post for those interested.

    But – you can get involved, and I hope you will.  Send in the $5bucks fee+form and take a minute to read up, stay tuned, and choose to act when it all happens.

    Fun Stuff!

    - – - – -

    VOTE for a black guy or some oldk, old white dude, too!!!!

    vote.jpgOct 20th is final day to register in sCruz.

    and here’s why your vote matters ~ even a democratic vote in the gaybay liberal pinko pelosi SanFran counts in the National Numbers.

    .

    We want a solid majority of Americans saying what they think, not a minority.

    Be a part and show your voice.  It makes all the difference.

    every vote counts.

    - – - – -

    .

    APTOS JUMP JAM … ah yeah, baby

    hellyeah.jpgDid a post about these cats awhile back …

    .

    and i only get to cruz by the jump station once every blue moon, or so.

    But let me tell you, that jump park is getting PIMP!

    .

    jumpjam.jpgCome down [fo'sho] to the Aptos Jump Park on the 11th of October.

    Qualifying Rounds start at 11am.

    Best Trick is around 3pm.

    Big Supporter of Keeping the Park alive is … of course … The Bicycle Trip in Santa Cruz.

    great shop.

    - – - – -

    Surf City HALLOWEEN CROSS is getty ready to roll …

    That’s right ~ we’re putting the dress back in crossdressing.  Bring your costumes, bring your kids, bring your dollars for tricks …

    giddyup.jpg

    .it’s Halloween cross in Santa Cruz.  You know we’ll treat you right.

    Just look for the madness.

    .

    and…more cowbell.

    - – - -

    DOPING IN THE PELOTON … lynelamarouex says poopoo

    if you’ve never checked out PodiumCafe with LyneL…get on it.

    inside scoops, real art, in real time … brought to you by the interwebs and talented, hardworking individuals.

    - – - – -

    Riding for the Deaf is def, yo

    coolness.jpgLocal Hero and bigbadman, RobinHorwitz is putting more action together on the local advocacy/support system.

    .

    Come play with us and build up some of that karma you’ll burn with me in the bar later.

    .

    Riding for a reason is reason enough.

    Ride ~

    - – - – -

    SeaOTTERCycloCross???

    … is it true that Sea Otter is contemplating adding a ‘cross event to the schedule.  well, if it is … my only opinion is that they make the entry fee for pro and u-23 riders (both men AND women, both categories) FREE.

    they make enough money on all those mtb race entries at the Slaughter.  Why charge your pro, cliff bar scrambling, dirtloving pro and future-pro riders entry fees to showcase themselves to the industry at that event?  you want the big crowds of Vegas Cross to show up and go mad at Sea Otter? then do it right and they will come.

    and, give out free cowbells.

    always … more cowbell.

    - – - – -

    zelinkao.jpgspeaking of cross … introducing Ondrej Zelinka

    The new U-23 champ of Czech.

    .

    That’s the beauty of social networking sites like facebook and flickr and more … you get to check out beauties like this and maybe toss them some love.

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    and, from the hernando’s personal ‘whattup’ file ~

    - – -

    Locked out of my email … again.  (i tell you ~ authorizing a lot of US$ wire transfers to organizations in Pakistan like “Sisters in Islam” will put you on some lists and under examinations … thanks US Congress for authorizing more scavenger-maurauding of my personal rights.

    damn watchlists.  but the work continues.

    - – -

    amygoodman.jpgSpeaking of watching … CHECK  AMY GOODMAN’s interviews and exploring the financial justifications for doing NOTHING to assist these banks OTHER THAN put an immediate moratorium on mortgage foreclosures (that’s right, NO homeowner should be foreclosed upon in the foreseeable future and their home payments MUST be put before a bankruptcy court and reduced by that court to an amount they can and will pay … but, everybody stays in their homes for now).

    Now, the “crisis” is termed as such because everywhere you look ~ Mr and Mrs Regular, MainStreet USA are facing financial trauma – loss of house, loss of retirement, loss of security.

    or maybe you live in an area like Michigan which has lost 400,000 manufacturing jobs since 2000.  400K … that’s a lot of jobs.

    well, if we are REALLY that concerned with the true Mr. and Mrs True Blue American … and we want to protect them and stimulate our economy … well, let’s start by NOT THROWING THEM OUT OF THEIR HOUSES!

    Call your senator, your congressman, and BE SURE TO VOTE -

    Stop all foreclosures now.  Let the bankruptcy courts do their jobs and get people paying what they can for their houses.

    We can do this.

    - – - – -

    Comments

    comments

    Powered by Facebook Comments

    About

    31 Responses to Bike News you can use

    1. Anonymous
      October 1, 2008 at

      Love this site and generally agree with a lot of what you have to say. But you are obvously way out of your depth talking about a moratorium on foreclosures. Such a moratorium would benefit a relatively small segment of the population and would only further devalue the MBS’s that are at the root of this whole mess.

    2. Michael Hernandez
      October 1, 2008 at

      listen to the Goodman interview and tell me if you still feel the same way. answer the points put forth in it, and then maybe you’ll persuade me. otherwise …

      it’s really about stopping ALL foreclosures on all assets. we need our bankruptcy courts handling any/all messes of our homes and business credit/loans.

      let the system work it out. free market capitalism … who said they believed in that thing?

    3. sabine
      October 1, 2008 at

      You claim that the MBS are at the root of this whole mess, and then go on to say it would benefit only a small segment of the population.

      How can it be the root and both a small segment?

      The FDIC led leadership now running Indy Mac is taking a moritorium approach in turning Indy Mac around. Sheila Barr has a model that she is advocating other companies to use.

      They are working with each possible foreclosure and reworking terms that allow homeowners to avoid foreclosure. They are only foreclosing when it becomes evident that no reasonable payment solution exists.

      Of course, the FDIC can afford this approach because they can ride out the short term cash flow effects.

      I think if these institutions want the benefit of a bail out loan, it should come at the cost of them thinking longer term and using an Indy Mac moritorium strategy.

    4. Michael Hernandez
      October 1, 2008 at

      sexy talk…

    5. sabine
      October 1, 2008 at

      joining me for the swimmins?

    6. shawndoggy
      October 1, 2008 at

      Simply put, people (lots of them, esp. here in NV) bought more house than they could reasonably afford. Now, not only can they not afford it, the house isn’t worth nearly what it was when the unpayable loan was taken out. For many people there is absolutely no conceivable way that they can stay in their homes. They just can’t afford it. Until the foreclosure waves are over property values will not be stable and nobody will be served by new or worked out loans. Why? Because the market is still unstable.

      BK doesn’t fix this. Sure bk will buy a debtor some time, but the courts are not going to wholesale renegotiate loans. They’ll help debtors who want to make a go of it try, but that’s not the problem. It’s people who CAN’T make a go of it. BK doesn’t allow people to keep their assets without paying for them (well OK, it sorta does, but not where there is a loan secured by that asset). But there are soooooo many people out there who still find this a crappy remedy…. scrape and hold on just to pay a loan that’s more than the house is worth? F that, they’re walking (and in CA, with no risk of a deficiency judgment either).

      People who borrowed more than they can repay…. most of the blame lies on their shoulders. They weren’t defenseless sheep herded into these loans. They got sucked up in the greedy greedy go go of the real estate boom. They wanted that no money down interest only 3 year NINJA arm, because in 2 years they were gonna flip for a profit! Well, bonehead, time to pay the piper.

    7. Anonymous
      October 1, 2008 at

      Norcal cycling news? Or personal rant-o-blog.

    8. gossipcolum
      October 1, 2008 at

      It is not a NorCal cycling site it is a personal blog site DUH

      Cross at Sea Otter for free????

      what are you thinking

      They would not let their mom race for free if she asked, so why in the world would you ask something like that.

    9. in the know
      October 1, 2008 at

      Speaking of Sea Otter, the same guy who gave you information on the Sea Otter CycloCross race has been working with the promoters to also have a Criterium Road event at Laguna Seca for the up coming Sea Otter. This will be big news, and you heard it here first. Look for a Crit. at next years Sea Otter, and you can thank the slalom builder for pushing this through, as well as the CycloCross race.

    10. Anonymous
      October 1, 2008 at

      there is already a crit at sea otter. it’s called a “circuit race”.

    11. October 1, 2008 at

      Support Shelley Olds! For just a few dollars a day you can support a “pro” bike racer! While you are chained to your desk, she’ll be out riding, training, and actively resting. She’ll also be racing in exotic locales around the world. You can follow her on the internet while you are working! Don’t worry, you don’t have to contribute forever-just til 2012. That’s only 4 years away! Sign up now!

    12. ted
      October 1, 2008 at

      If i read this right i am the first to register for my respective PsychoCross races two years running. I better get a #1 bib for costume cross is all i have to say.

      On top of that Ride the World Cup fundraisers for Proman are great events so def hit those if you have some late season fitness.

    13. The Doctor
      October 1, 2008 at

      Anyone ever hear of the contracts clause? Idiots!!!

      Once again Hernundo, you talk out yer ass.

    14. in the know
      October 2, 2008 at

      I am talking about a real Crit Anonymous.
      No big hill, Just a Crit.
      There will still be the Circuit race, just another road event added.
      And I think I will cancel BMX for 2009 too.
      Just wait and see.

    15. October 2, 2008 at

      Cool, if they add a crit all they need is a TT and they can make it a stage race. Nor Cal amateurs could use a stage race with a few hills in it.

    16. just saying
      October 2, 2008 at

      Could it be a return to the 2002 Cannery Row Crit?
      Speaking of Stage Races. The rumor is that a Fort Ord Stage Race is in the works (Velo Promo) including a ITT up Barloy Canyon.

    17. Nicola
      October 2, 2008 at

      Dear Dave – wanker, I am NOT sorry that you hate your job and life so much you feel obligated to try to diminish someone elses. It seems as though you deserve to be right where you are. If you had any idea what goes in to getting Shelley to the world cups you might just shut up. She works a full time job, coaches the Stanford women’s team, coaches personal clients, works hard at fundraising and manages to get up early enough to train for world cup racing. We are the creators of our lives and its too bad you aren’t doing a better job at creating your own.

    18. Michael Hernandez
      October 2, 2008 at

      shawndoggy,

      complete horseshit.

      your comment swirls around what you see as the human effect of this crisis:

      They got sucked up in the greedy greedy go go of the real estate boom. They wanted that no money down interest only 3 year NINJA arm, because in 2 years they were gonna flip for a profit! Well, bonehead, time to pay the piper.”
      .
      Wrong.

      That’s the 6-figure lense of your bias, shawn {and i know shawndoggy makes 6figures because we took 7figures from his firm in a product liability case a few years back. ;)}.

      The real human tragedy of this “financial crisis” isn’t the flip’ers scouting for profit and having to suck it up now.

      The REAL human tragedy is the FIRST TIME HOMEOWNER in the history of a family put at risk. I’m talking about REAL people – poor, but rising, – having the chance to OWN a home. The safety of ownership, the security of ownership, the peace of mind of not being kicked out with a 30-day slip of paper.

      .

      Horseshit.
      .
      Ask yourself something, WHO SHOULD BE ABLE TO OWN A HOME? Where should our tax dollars go?

      What is your answer?

      Does how we live and how we govern ourselves act in accordance with your answer?

    19. Michael Hernandez
      October 2, 2008 at

      oh, sorry Nikki.

      i didn’t even notice that comment. i would normally have just deleted it – but erred.

      we might as well leave it and your comment up as showing just how cool people are who help out and build stuff and how it’s a real and challenging thing to do!

      thanks again for all you’ve done for women in cycling, Nicola Cranmer! And, of course, go kick some ass at Natz Shell.
      m

    20. Anonymous
      October 2, 2008 at

      WHO SHOULD BE ABLE TO OWN A HOME?, you ask.

      Oh jeez Mike, I guess you’re right. EVERYBODY is entitled to own home regardless of whether they can afford to pay for it or not. I guess I’m a schmuck for working my ass off for twenty years so I could finally afford down payment and put myself in a finanacial position to negotiate reasonable terms and actually pay my mortgage payment every month. If I knew all I had to do was sign some papers and wait for the government to help me out, I wouldn’t have bothered.

    21. Michael Hernandez
      October 2, 2008 at

      What I’m saying is …

      that you should NOT have had to scrimp and save for 20 years to QUALIFY to buy your first home.

      YOU are who i’m fighting for. So that you can have a home free and clear in 20 years after a reasonable, HEALTHY loan mechanism gets paid off … through YOUR hard work and significant accomplishment.

      Try and look at it through that lens.
      - – -
      Everybody IS entitled to have the chance to own a home. They have to earn it, but it SHOULD BE reasonable that a person who works hard (and joins in with our social contract) be able to own a home.

      We have a vastly, vastly inflated housing market in relation to the MAJORITY of American’s financial standing/earning power.

      I disagree completely with any idea that people shouldn’t be able to work hard and own a home. And i believe in responsible lending practices that enable that.

      Don’t you remember Jimmy’s movie about a bank, some homes, money, and the spirit of empathy?

    22. Mace Dickstrong
      October 2, 2008 at

      “How can it be the root and both a small segment”

      The MBS’s were purchased and re-purchased(sliced and diced many times) at highly levered rates (30,40,50-1). This little scheme works fine when the underlying asset is going one direction, and that is UP. A small LOSS in the value of the underlying asset (in this case the market value of houses) wipes out a levered position very quickly. A substantial loss puts the holder of said mbs deep underwater.

      Im not saying a moratorium on foreclosures is right or wrong – but it does nothing to service the debt of the MBS. Frankly the entities/Investment Banks that purchased these instruments hand over fist should be left to burn. (This 700B bill is a bailout of a select few super elites (JP morgan, goldman sachs…)who are exempt from any type of moral hazard.

      As far as home prices go, they need to return to the norm/median of 3 or 4x annual income.period. No meddling, no morefucking with the free market, no more trying to levitate a big wet turd.

      Barf – time to go ride.

    23. Michael Hernandez
      October 2, 2008 at

      word

    24. October 2, 2008 at

      thanks but I’m just one little voice in the community. With people like Chris, Drew, gavia,…. PodiumCafe is a great place for bike lovers of all kinds where we talk about racing, bikes and even centaurs

    25. shawndoggy
      October 2, 2008 at

      If we prop up the current crop of people who can’t pay their loans off, we’re never going to get to where you want to be, M — affordable housing. The bursting of the bubble is creating a huge inventory…. and guess what, dropping the value of homes back to the reasonable level. If we don’t let that process continue then the housing market will remain artificially inflated.

      And I’ll call BS on this one:

      “The REAL human tragedy is the FIRST TIME HOMEOWNER in the history of a family put at risk. I’m talking about REAL people – poor, but rising, – having the chance to OWN a home. The safety of ownership, the security of ownership, the peace of mind of not being kicked out with a 30-day slip of paper.”

      The ability to own a home was hugely expanded during the past four years. Where did that get us? There was an enormous wave of people signing up for easy money loans, who, it turns out, COULD NOT REPAY THEM. Opportunities were expanded, and the bursting bubble is the result.

      With that safety and security of ownership also comes HUGE risk. If the value of your house drops (what, that happens?) and you need to sell, well guess what, you can’t pay your loan.

      And the 30 day slip of paper? Dunno about CA, but here in NV it takes far longer than that to accomplish a foreclosure (at least 120 days). In comparison, someone who rents can be kicked out summarily for not paying. In that respect, ownership of a home, even one that you can’t make the payments on, does provide more security than renting, I guess.

      Home ownership isn’t all upside. There are significant drawbacks as well. Not everyone who could own a home SHOULD.

    26. Michael Hernandez
      October 3, 2008 at

      shawny, you write:
      “There was an enormous wave of people signing up for easy money loans, who, it turns out, COULD NOT REPAY THEM. Opportunities were expanded, and the bursting bubble is the result.”

      … and shawn, rich people loaned those people that money. every single one of them.

      yeah, let’s blame that person who grabbed at the straw of comfort/security that is “home-ownership”.
      -

      gotta jam, but will respond more to your comment later. thanks for playing! always fun. hope the fam is great and you guys are ready for the winter.
      best,
      m

    27. shawndoggy
      October 4, 2008 at

      loaned being the critical point. Grants are given. Gifts are given. Loans are meant to be repaid.

      You are making a value judgment… that the poor deserve houses, and that the rich banks don’t deserve their money. I can understand that sentiment. But stealing money from the banks is not the way to reform the system anymore than looting stores in the ghetto cures poverty. Sure there’d be some catharsis and a few people would be better off, but in the long run it would do nothing to expand anyone’s ability to become a first time homeowner.

      In my view, education is the road to fixing this problem (and many of the other problems America faces). Right now stupidity is romanticized (Palin) and everyone looks to the government to cure our ills. Perhaps if we’d educate people instead of jailing them, we’d face fewer issues with so many making such bad decisions. That’s not a quick fix though. It’ll do nothing to stop foreclosures or bankruptcies for the current generation of bad loan buyers. But maybe there is hope for their children. I can only hope my kids do better than I have.

      (and thanks… kids and family are great. My kids are badass. Smart and active. Check my youtube linky on the facebook page… Connor is the hardest workin’ kid in showbiz. Cathy’s at Lakes Crossing — the state mental health facility — where she evaluates offenders for competency. And I’m still an agent for the man… as long as the economy keeps sputtering along anyhow. Love the sparring!)

    28. LillyBella
      October 4, 2008 at

      Shawndoggoneit- I am sure there is blame to go around and yes there were many people that were quick to flip or just buy more house than they could afford, that is why there were regulatory practices in place. This was eroded under the free market system.

      In 2000 Hanky Panky Paulson stood before the SEC and pled his case for Goldman Sachs to change regulatory rules to a self regulation system…

      http://banking.senate.gov/00_02hrg/022900/paulson.htm

      by 2008 he then asks taxpayers to bailout his buddies without any reference to how his hands have played into this mess, add that to McCain’s finance advisor Phil Gramm’s deregulation bill

      http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html

      and you have the trickle down economy that only wants to trickle down the losses. I don’t remember getting any paybacks from the financial institutions nor do I remember agreeing to deregulate and bail them out when the market turns. The truth of the matter is the system is corrupt. I would also like to defend the community I educate…since we seem to be the scapegoats of this economic crisis. Loan officers would try to sell the WORST product (loans) because it would sell at a higher price. Incentives were in place to make these loans move. Some very shady characters were purposefully misleading and pressuring the community and giving them guarentees that they could refinance in a couple of years. Some loans weren’t even translated accurately. So who is more to blame?

      I say follow the money and if I have a choice on how to use the $10,000 this is going to cost each taxpayer I would much rather put it into MY community. I give credibility to Amy Goodman anyday before any Goldman.

      Hi Mikey, I just had to put my two pesos in…all that reading can make a girl nutz.

    29. Michael Hernandez
      October 5, 2008 at

      that was at least $2 bucks worth.

      almost enough for a disposable cup of latte.

      thanks for the great information.
      m

    30. October 6, 2008 at

      I’d say you’re more than just a “little voice” at the Cafe, Lyne :-)

      But if we’re talking about plugging Lyne’s work, her own Podium In Sight is super sweet for North American news. Eat your heart out Velonews.

    31. TimB
      October 8, 2008 at

      Umm, go Shelley and all our local racers at Natz. Glad to hear that the bike was found, too bad about the stuff though. Thieves should be made to ride Copperopolis on bare rims with a new Brooks saddle.

      Good shoutout Mike reminding folks to register to vote by October 20th here in California. While the state will go for Obama, there are plenty of other people on the ballot and initiatives to vote on (or in the case of Prop 8 to vote down).

      As for the foreclosure moratorium idea, I’m not so sanguine. Yes, wherever possible servicers and the owners of the underlying bonds should work with owner-occupants who are just not making it at the higher payment/balance levels. A possible solution might be note modification, where the bank and borrowers agree to a lower principal balance and interest rate, or a longer introductory rate period. To share the risk/reward if markets come back the holder of the mortgage could be allowed to participate in future increases in value (this is a provision in USDA Rural Housing Service guaranteed loans). But there are large numbers who bought houses they were in no way capable of affording. They got greedy and went along with the fraud artist loan officers to get what they wanted. Those folks and flippers shouldn’t get any benefits from a moratorium or work out provisions.

      The bottom line on the whole housing issue is that the bond holders just want to get paid their monthly interest, nothing more. They don’t want the house, it costs them money every hour they haven’t sold it, and yes it takes quite a while for a case to wend its way through foreclosure. That process is lengthened if the borrowers don’t vacate promptly and have to be forcibly evicted or if they fight it. Because of uncertainty of those payment streams and the underlying value of the homes that collateralize the loans, nobody can value those bonds accurately – and if you can’t set a value on something you can’t buy or sell it. Nor can it be use for accounting purposes as an asset on your balance sheet (which is critical for banks when they want to lend money).

      Personally I liked McCain’s suggestion last night at the debate that the Feds start buying up some of the foreclosed loans behind the bonds they are purchasing and work out new terms for owner-occupants along the lines that we’re all talking about. With a few tweaks that could help save a number of family homes, and in the longer run could break even or better.

    Leave a Reply

    Your email address will not be published. Required fields are marked *