Aging rock star botches Mulholland tree-trimming

Good morning. Nothing gets the blood boiling quicker than a botched, illegal tree-trimming by people trying to protect their sweeping city views, which is why this item leads the morning's list of links to weekend coverage:

From latimes.com: Neighbors in Beachwood Canyon are furious over a botched tree-trimming (pictured) by Styx guitarist Tommy Shaw and his wife.

From The New York Times: Lenders fear a second, bigger wave of housing defaults (more coming on this item later today).

From the Wall Street Journal: Cher is asking $45 million for her Malibu estate.

From the Wall Street Journal: Fannie and Freddie take steps to prevent foreclosures.

From Barron's via Calculated Risk: Bearish economist Roubini sees up to $2 trillion in debt-related losses.

One more from CR (inside baseball alert): Tanta takes issue with my post about Lou Barnes' criticism of the federal mortgage rescue.

-- Peter Viles
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Photo credit: Los Angeles Times

Comments

[amir]

The New York Times and Roubini are very negative, but some here said I was too negative. Oh well...

Roubini says one trillion is the floor for losses and two trillion is the ceiling. Well, since subprime losses were 25% in california, that's at least 250 bil of losses in California, and up to 500bil (back of a dirty envelope calculation) Ouch! Even for such a big and rich state, that's a lot.

So when is the bottom? I suggest you all read Dr. Housing Bubble. He predicts 2011. I think that is as accurate as you can get. I'm an optimist, 2010 could be good again.

[eternal summeret]

Hi Peter,

I really miss the "Ask Peter" posts. It was fun to read and I enjoyed your take on things. I think alot of people enjoy your voice here, even if they disagree. That's why we keep reading! Please bring it back!

Thanks,
Summer

[Match]

A match would solve the problem of those unsightly houses messing up the look of that hill.

[Scott McIntosh]

Those trees look more like totem poles. I'm sure the view is important, but do you have to trim the trees till they look like tall twigs?

http://www.thewestwoodblog.com

[CD]

Tanta and Nouriel Roubini, are the only real voices of truth.
Read them, do what they say. Don't even think of trusting the media or this government (I mean Bernanke and Paulson.) I hope FDIC does not default....Can they really guarantee our money at this point ? Roubini sounded doubtful this morning on CNBC. Maybe FDIC insured means "Bupkes"

[Hmmmm]

What is the relevance of the age of the rockstar to the issue? I'm dissappointed in the professionalism in this piece. These pine trees, eucalyptus, etc. were planted by people without foresight to the view blockage it would create in the future. These trees aren't native either, and are horrible fire threats. Get over it, people. Views are good for everyone. Plant a tree in the flat areas to make up for it.

[FM71]

This hits too close to home for me! I have experience in what it feels like to have trees that obstruct your view.

Many years ago the wife and I purchased a beautiful home on a hilltop with gorgeous views of the valley. Well, the moron below planted Eucalytus trees that grew like they were on crack! Within a short peiod of time a large percentage of my view was gone.

Reasoning with this idiot was just not possible. One day the FBI raided his home and hauled him off to Club Fed. For what? Hah, mortgage fraud. Seems he was involved in shady loans using straw buyers. He was arrested in 2000 along with several dozen others locally in SoCal and even made the evening news as well as this very newspaper.

The new neighbor came in and promptly trimmed them down to a manageable height.

I do want to say that homes with a view have a steep premium, so when you shell out that extra money for that view that is what your paying for. It almost feels like a bait and switch. It feels like you got robbed. Who would pay a lot of money for a house with a view if there was a chance that it would be gone soon.

Anyway, I sold in 2005 for threes times what I paid. I'm a happy renter now and waiting patiently.

[Rob]

"These trees aren't native either, and are horrible fire threats. Get over it, people. Views are good for everyone"

My Point: Age is relevant to the amount of synapses firing at any given time. Thinking clearly that these folks have no respect for there fellow neighbors as they will now see...

[sheila]

"rock star??" the guy was in styx, for chrissakes, not led zeppelin. where are the fact checkers for this blog?

[peteviles]

Sheila writes, "'rock star??' the guy was in styx, for chrissakes, not led zeppelin. where are the fact checkers for this blog?"

Thanks Sheila. Do the words "Come Sail Away" mean anything to you? Does "Mister Roboto" ring a bell? "Lady"?? "Babe"?? Styx, my wikipedia tells me, "Is the first band to have four consecutive albums certified multi-platinum by the RIAA."

By album title alone, they qualify: any 70s rock band that names its first album after the band ("Styx") and for its second album adds a roman numeral ("Styx II") is comprised of rock stars. Geniuses, too.

I rest my late 70s, big hair, rock anthem, case.

[FM71]

Geniuses? Did I read geniuses? Good grief man, they had success but that by no means makes them geniuses. They were weak love song rockers then and they're even weaker now. If they were geniuses then what does that make Zeppelin? Oh yeah, I remember, GOLDEN GODS!

Pete, do us all a favor and stick to blogging about RE and leave the music reviews to someone else.

Props to Sheila!! She's right, they're no Led Zeppelin.

BTW, the word genius is thrown around too lightly. Einstein, Plato, Da Vinci, Mozart. Those were geniuses!

Maybe Sheila was right, where are the fact checkers for this blog?

[peteviles]

Observing that I had called Styx "geniuses," FM71 writes, "Geniuses? Did I read geniuses? Good grief man, they had success but that by no means makes them geniuses..."

Thanks, FM71. Now, listen carefully, I'll spell it out for you: s-a-r-c-a-s-m. You with me? I was kidding.

But I will say this: where I grew up (northern New England in the 70s), there were a lot of Styx cover bands. I don't remember a single Led Zepellin cover band.

[FM71]

Ah Pete, I love you and you're blog man but you've never heard of Sierra Madre's very own Dread Zeppelin? Anybody can play Styx, not just anybody can cover Zeppelin.

I guess we'll just have to settle it this way. When you ask people who were the greatest five rock bands of all time don't be surprised if Styx doesn't make the list. I'm sure they rank pretty high in your heart Pete.

Sarcasm off now. ;^)

Keep up the great work and try not to let the other bloggers take over too much. This blog started out as yours and I think the content should remain yours.

Peace.

[Fourth Generation]

Aging rock star.... ouch!!!!! That is cold man.