Shed more light on bailout plan

Re: 'Rescue Sidesteps Economic Black Hole' (Oct. 17)

Dear Editor:

Well, for one in the depths of this trench I have to give a huge "amen." I've been in real estate since '87 -- starting in sales of new homes. I've owned my own brokerage, been licensed in three mountain region states, sold commercial and residential properties, was in commercial and residential property management, and I am currently working the other side of the equation in title insurance.

One has to stop and really take stock at certain junctures in your given career path and evaluate, adjust, adapt and in general re-assess where to direct your energies to best fit the current trends of the marketplace. Needless to say, now is no exception! As one who has seen the good and the bad times in the past 20 years, this current quagmire leaves one wondering, "Just what have we done to deserve this backlash?" I realize that real estate is a cyclical business, and we all can share our stories of riding the wild rollercoaster of feast and famine, but lets call this what it really is -- a Coney Islands coaster from hell!

I've lived on both sides of the fence and it has been a real eye-opener to see the blank stares of those I solicit business from for escrow. As the old adage goes, "Eighty percent of the business is done by 20 percent of the agents." Well, right now, I'd guess that 20 percent of the 80 percent of those producing business are actually selling -- and that number may be padding it a bit. There has been such a drastic shift in the paradigm of the typical business model that even those who truly have a successful game plan are floundering in bewilderment.

My daily mantra to all those in the trenches of real estate is that there is a light at the end of the tunnel. Keep fighting the good fight and as Winston Churchill said, "Never, never, never, never give up." I just don't share with them my estimate of the possible length of that tunnel.

There is another phrase that comes to mind for all of us who have been taken by surprise by this shift in the magnetic fields of finance -- you don't know you are in danger when you're part of an accident.

My number one suggestion to those who are in positions of power right now would be to communicate. Let the left hand know what the right hand is doing. If what is being proposed to help alleviate our current financial bind is ever going to be effective, there must be some dissemination of information to those on the ground floor and in the trenches of our industry to implement. Plan your work and work your plan, right? Thus far we seem to be in the proverbial mushroom mode -- they're keeping us in the dark. If we aren't given some kind of vision for the implementation of this grandiose plan, we stand to continue to stagnate and wallow in this sea of uncertainty and speculation. We already have seen what happens when decisions by the financial world are made in smoky rooms behind closed doors.

Why not try something fresh and outside the box in rolling out a revolutionary, recession-busting plan of attack for which all of us can believe in and support? Is it out of the question that we could see an Iococca turnaround for 2009? I believe there is that possibility, but somewhere soon we all need to see the cards which are being held so tightly to the government's chest. I'm not one to buy much into conspiracy theory, but if smoke and mirrors continue to be the modus operandi of this current group of bailout reformers -- the belief that something is being shielded from being exposed to the light of truth will slowly, surely make its way into my thinking.

If they want to put confidence back into our consumers and those who are so reluctant to allow for currency to flow in the economy, there must be a vote of confidence to consumers and lenders by including them and empowering them with information and insight to the direction we want this economy to move. This is a "need to know" situation -- America needs to know and know now what the plan is for our economic future. Americans have a right to know who's pushing or pulling the strings of our economic life.

I believe that we can and will get through this with the usual letting of blood, sweat and financial tears. But to accomplish it will require Americans to shed the current reality of being left out or included only up to a certain level. Each of us will need to be immersed and unshakeable in our belief that all of us plays an integral part in bolstering and supporting whatever plan is laid out before us.

If you could ever think of economics in terms of a religion -- now is the time. You have got to believe! If faith falters as we've seen thus far, I'm afraid we'll suffer the fate of the mushroom and be harvested after being kept in the dark.

Mark Cardon
Marketing representative
Equity Title of Nevada
Mesquite, Nev.

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