RCC Holdings Corp fka RCCH

[martingale]

Thats about the size of it minnesinger. We all bought into a
"story" that seemed plausible back in Feb-April. However Newton was dilusional to begin with and then the housing melt-down in the housing sector for speculation developers killed this thing. With the credit markets in the shape they are it is going to take a developer with an extremely pristine balance sheet and high net worth to cover a spec loan from a bank.

You would think that perhaps North Carolina might meet that criteria but then again they could just back away and wait a few years. There is nothing to be gained by putting up a $200M development in this market. There are 6 million unsold homes currently in the USA for sale. That is a huge inventory and it is clearly a buyers market. Developers if they can gamble will sharpen their pencils and get new bids and that leaves IWS vulnerable to competitors IMO as they scramble for
revenues. Many sub-contractors are going to go out of business in this environment. Credit is extremely tight.

Even companies selling gold, silver, precious metals and even oil with a known demand for their products are suffering a capital crisis. I am in one of them GMO with $40B in moly reserves and $200M in the bank with strategic partnerships to sell 30% of their production starting in 2010. That stock is
way way down but have made good money on it over the past 2 yrs. playing these ups and downs. RCCH has a product but right now the demand is not there. Will it ever be? Of course if they can survive and that brings up the issue of investor confidence
in supporting their activities. I would much rather buy a LEH on a gamble than this and just bought back in....pending news.