WaMu Noooo!!

DAMN, my bank got pwned!! (literally AND figuratively)

These are some tough times we're all going through, will it ever let up?

- jv



taken from CNN.com




A road to collapse

WaMu had been one of the most hard-hit banks during the financial crisis after it bet big, like many of its competitors, on the strength of the housing market -- only to see its fortunes sour as housing prices fell.

Following several ratings agency downgrades this week and a freefall in the company's stock, many analysts were speculating that the endgame for the embattled savings and loan was imminent.

Those fears sent WaMu (WM, Fortune 500) shares 25% lower in Thursday trading. Shares of the company fell another 73% in after-hours following the announcement.

In a press conference held late Thursday, Bair said WaMu was under "severe" liquidity pressure. As a result, its fate needed to be addressed this week, even as Congress and the White House attempted to hash out a bank bailout plan.

Bair added that the company was on the FDIC's latest so-called "problem bank" list for the third quarter, which has yet to be published.

All told, Bair said four banks made bids for WaMu but JPMorgan Chase ultimately won out when the auction was held Wednesday. Several other large institutions, including Wells Fargo (WFC, Fortune 500), Citigroup (C, Fortune 500) and HSBC (HBC), were poring over the company's books, according to news reports last week.

JPMorgan Chase won because they were "the highest bid and the lowest cost resolution," Bair said.

"It was our cheapest option," she said.

Part of the $307 billion in assets that JPMorgan Chase will absorb are WaMu's toxic subprime and option-ARM mortgages. JPMorgan Chase said it would recognize projected losses on the loan portfolio upfront by marking down the value of the loans by a whopping $31 billion.

Quite possibly the biggest losers in Thursday's deal are WaMu's stock and debt holders, who were effectively wiped out.

Among that group was the private equity giant TPG, which was part of a consortium of investors that acquired a stake in WaMu for $7 billion in April.

JPMorgan Chase reportedly had made a previous bid for WaMu around that time for about $8 a share which was snubbed by WaMu, according to news reports at the time.

Tough times for banks

The fall of WaMu is the latest turn in a dizzying two weeks that have seen the bankruptcy of Lehman Brothers, the acquisition of Merrill Lynch by Bank of America (BAC, Fortune 500) and the near collapse of insurance giant AIG (AIG, Fortune 500).

The widening credit crisis has prompted President Bush to seek from Congress extraordinary authority to spend as much a $700 billion to bail out the nation's financial system by purchasing toxic assets from banks.

President Bush, in a televised address on Wednesday night, said the nation is in the middle of a "serious financial crisis" that threatens the economy. "The market is not functioning properly," Bush said. "There is a widespread loss of confidence. America could slip into a financial panic."

Regulators acknowledged they were encouraged to get a deal done but JPMorgan Chase's Dimon stressed to investors that a potential bailout by the government was not a factor.

Nice Comeback!

Well would you look at that?
The PC/Windows guys finally strike back at the Apple ad campaign.






- jv

The Summer is Officially Over

So the Fall Season is here, and it's my favorite time of the year. The weather is just right, and the trees and flowers are brown, yellow, orange and red. I consider it the most colorful time of the year. And I'm only in California, I'd love to see how it is on the east coast where they get a whole array of colors!

The fourth quarter of the year is also my favorite because of all the birthdays in October (a bunch of my friends, including my mom and brother as well as my own) so it's a time of celebration..almost every day in October belongs to someone! We also have our holidays coming up - Halloween, Turkey Day, Christmas and New Year's Eve. It's like four months of straight celebration!

On Sunday, we had a nice get together at Zach's house for the First Annual End of Summer Barbecue, hosted by Zach & Joy. It was nice to see a lot of my friends at the same place just hanging out, relaxing, and catching up.

Photos can be seen HERE.









Thanks Zach & Joy!

- jv

Gottems!

Well I got my laptop back yesterday. It took less than 4 days for them to receive it, repair it, and send it back..go HP!

Anyway the bastards reformatted the entire thing so I've spent the last day and a half deleting all the unwanted crap that the computer comes with, and reinstalling all my "important" programs and tools. This is how my comp is at the moment --

(click to enlarge)


Everything's almost back up to normal, and I can get back into the groove of things. I have a shoot to finish editing and I'm all caught up!

Hooray for me


- jv

Travis Barker & DJ AM Plane Crash

Where I'm from (The Inland Empire), Travis Barker is considered a local hero..Since his humble beginnings with The Aquabats, then later onto bigger projects like Blink-182, Boxcar Racer, The Transplants, and +44 I've always considered myself a fan of his fast-paced, heavy hitting, punk drum style. A lot of Blink-182 songs are embedded in my brain as a sort of "soundtrack" to my younger high school days. When I hear their music on the radio it gives me a feeling of nostalgia and serves as a reminder of how much simpler life was back then.

Though I don't know him personally, I know a lot of people who do and when I heard the news of the plane crash this morning I was saddened. Four lives were lost, but Travis and Adam Goldstein (DJ AM) barely made it out alive.

My thoughts and prayers go out to their loved ones and for a speedy recovery for the two survivors.




More @ CNN.com:

Former Blink-182 drummer Travis Barker and DJ AM were critically injured in a plane crash Friday night in Columbia, South Carolina. The plane's four other passengers were killed.

Lexington County Deputy Coroner Brian Setree confirmed for MTV News on Saturday morning (September 20) that three men and a woman died in the crash. The victims were: Barker's assistant, Chris "Little Chris" Baker, 29, of Studio City, California; Barker's security guard, Charles Still, 25, of Los Angeles; the plane's pilot, Sarah Lemmon, 31, of Anaheim, California; and her co-pilot, James Bland, 52, of Carlsbad, California. While TMZ originally reported that Baker, who appeared on MTV's reality show "Meet the Barkers," was newly married and that his wife recently gave birth, it reported late Saturday that she was about to give birth, and the fatal flight was booked was so Baker could be with her as soon as possible. TMZ reported that Baker's wife went into labor Saturday morning.

Barker and AM had just performed at a free T-Mobile-sponsored show in the Five Points area, along with Perry Farrell and headliner Gavin DeGraw. Though early reports had suggested that DeGraw may have been on the plane at the time of the crash, DeGraw's father, Wayne, told MTV News that he'd spoken to his son Saturday morning and that he was fine. Farrell's manager, Peter Katsis, confirmed that Farrell was not on the plane.

Beth Frits, a spokesperson for the Joseph M. Still Burn Center in Augusta, Georgia, confirmed that AM (born Adam Goldstein) and Barker were transported to a hospital in Columbia following the crash. They were transferred — AM by helicopter and Barker by ambulance — to the Still Center soon after. She told CNN that both men had "extensive burns."

According to TMZ.com, Barker sustained burns from the waist down, while AM suffered facial burns; UsMagazine.com reported that AM was in a doctor-induced coma and will undergo skin grafts. Both sites cited unnamed sources; MTV News was unable to confirm those reports at press time.

On Saturday afternoon, members of both men's families were reportedly traveling to Georgia to be with them.

The crash took place just before midnight on Friday and involved a twin-engine private Learjet with six passengers onboard, according to Lynne Douglas, public information officer for the Columbia Metro Airport. While taking off, the plane, which never left the ground, overran the runway, struck an antenna array and several lights, and began sending up sparks. It skidded off the end of the runway, through a perimeter fence separating the airfield from a nearby roadway, and then crossed the roadway, coming to a stop on an embankment. The plane caught fire on impact. Douglas said two passengers — who were later confirmed to be AM and Barker — escaped the aircraft while it was on the ground, while the other two passengers and crew members died in the crash.

The National Transportation Safety Board confirmed these details during a press conference, which was held shortly after 11:30 a.m. Saturday. A 10-member team from the NTSB, along with investigators from the Federal Bureau of Investigation, is on the scene, trying to determine what caused the crash. Federal Aviation Administration spokeswoman Kathleen Bergen described the post-crash fire as "significant."

An eyewitness told NBC news affiliate WIS that he saw a fireball crossing the road near the airport and then realized it was a plane. He saw jet fuel shoot out across the roadway and then saw two men, who were both on fire, patting each other down to extinguish the flames.

Barker, 32, and DJ AM, 35, were the house band for the 2008 VMAs.









- jv

The New Canon 5d MKII

The EOS 5D Mark II boasts a new 21MP CMOS sensor, an expanded ISO range of 50-25,600 and a wealth of improvements and new features including full 1080p HD movie recording, live view, 3.0" 920k dot LCD, DIGIC IV processor, increased battery capacity and sensor dust reduction.

KEY IMPROVEMENTS:
* New 21.1 Megapixel CMOS sensor with improved EOS Integrated Cleaning System (E.I.C.S.)
* New Full HD 1080 resolution movie recording
* 3.9 frames per second continuous shooting
* High performance DIGIC 4 providing superb image quality
* Maximum 310 large JPEG images in a single burst with a UDMA card
* 3.0” VGA (920k dots) Clear View LCD
* ISO 100-6400 (expansion from 50 up to 25,600)
* 9 AF points + 6 Assist AF points



...so in short, if God had eyes, they would be a pair of 5d MkII's


An in-depth review can be found HERE

An incredible first hands-on review can be read HERE


- jv

JJ Abrams' Enterprise

its Kirk's NCC-1701 with a bit of a modern re-design for the upcoming 11th Star Trek film


WHOA!!

(click pics to view them in full-size)






The Original Series ship (from the '60s) --






EXCELSIOR!!!




- jv

Why Did the Chick Cross the Road?

To Shoot With Me!! DUH!




















Leslie

John Valdez Photography

Russell Brand & Craig Ferguson

English comedian Russell Brand as a guest on Craig Ferguson's show, The Late Late Show. I couldn't stop laughing! They're on the same wavelength, and they play off each other wonderfully..pure genius.

Check it out, its divided into 2 parts--

ENJOY!




- jv

Days Go By..

Woke up, played basketball, cut my hair, washed the car, showered, got dressed up and took the girlfriend out on a nice dinner date.

I feel accomplished. =-)


When you keep busy, you feel busy and your mind stays busy. It's a great feeling to keep a mental list in your head (or a physical list in your phone) of future plans and it feels even better to slowly mark them off one by one.

I've used this process to build my car with performance and exterior modifications, as well as my photography with various cameras, lenses and all other gear. For me, it is a process that is tried and true -- now if I could only do the same with my life and career plans, I'd be set.

All I know is the end goal -- John Valdez Photography Studio.

As new options are shown to me I begin to think ahead a few steps and my mind tries to tie it all into the end result, "How will this lead to my studio?"

I feel as if I announce it to the universe, or if I say it out loud, then the universe and God will hear me and know my plans. And knowing that I've announced them, I will sub-consciously work everything in my life toward the end goal.

I have the love and support of my friends, family, and my amazing girlfriend. They all believe in me and keep pushing me, even if I feel like giving up they always tell me to follow my dreams and to work hard for them. I believe that if you never give up then you will never fail because I feel that hard work is rewarded ALWAYS. I am grateful to be surrounded by such a diverse group of people who offer different views so I never forget to keep an open mind, and at the same time keep my eyes open.

Thanks for reading.


- jv

Never Forget

ARGH. My laptop's taken a dump on me and I've had to send it out for repairs. Luckily it's covered under some recall and I pay nothing. Gottems!

===============================

So today is September 11, 2008.

It's been seven years since the tragedy in New York City. I remember exactly what I was doing that day and thinking to myself that the world would never be the same again. I remember my alarm clock ringing and I automatically turned my TV on so I don't fall back to sleep. In the morning, I watch Good Day LA on Fox because it's very light-hearted and funny - just what I need to get my day started. What I saw next definitely woke me up - the second plane hits the second tower and causes a massive explosion. I remember thinking, "the twin towers?!", and then another report of yet ANOTHER plane crashing into The Pentagon in DC. "WHAT THE HELL IS GOING ON?? "

At first, I thought it was a movie trailer but when they went back to news anchor Steve Edwards, his face was all business. He, along with the rest of the country, watched in disbelief and fear and confusion as to what was going on in front of our eyes, and more importantly on our own soil. Our attitude of invincibility was crushed as we saw the towers go down in a cloud of ash and debris. We were not ready for this. I don't think anyone was ready for anything of this magnitude. It was a harsh reality check, that we are human and our lives can be taken away in the blink of an eye. And that is something we will never forget.

I was also worried about my family in NYC - my uncle and aunt work within 10 blocks of Ground Zero and I remember them telling me that they had to walk home that day and it took them about 7+ hours on foot. Luckily they were all okay, but the city was in ruin.

So, how about you? What were you doing on September 11, 2001?
I'd appreciate input, share your thoughts with me.


-jv

The 2008 MTV VMAs

Could it be because I haven't watched MTV in a few years, or was it just really really DULL this year?

I think they were going for the whole raw/behind-the-scenes theme, considering they were on the Paramount lot. But seriously, what's up with the mediocre editing and lack of big-name guests? It felt as though they taped the dress rehearsal and decided that was good enough!

My thoughts --

• Russell Brand was great, I think of him as a real-life cross between Borat and Jack Sparrow. Continuously putting the Jonas Bros on blast was awesome, and he got political right at the intro of the show. Considering it was his first time ever in front of an American audience, it was a very ballsy move -- good shit!
  
• Britney with the hat trick - hmm I dunno too much about that. Shenanigans? Maybe MTV felt bad for what happened last year and decided to take it easy on her.
• The house band consisted of Travis Barker and DJ AM featuring various artists performing between breaks, I wish they would've showed complete songs!
  
• Kobe showed up! Go Lakers!
• This year's show also included Xtina's return to the stage (though she lip-synched - WHY?!).
• Lil Weezy is EVERYWHERE, you can't escape him!!
• Kanye closing with a new song was great, even though he claimed MTV 'betrayed' him last year. It's all good man, no beef.

- jv

Street Fighter IV

So I got my first hands-on experience with Street Fighter IV last night. I gotta say, it's pretty awesome! Takes alot from Third Strike and Super Turbo, and literally falls right in between. Parrying has now been replaced with "Focus Attacks" while cross-ups, multiple hit combos and super moves are still at your disposal. The newest addition - Ultra Combos. WHAT? Ya, crazy.

The new graphics system is wonderful, and doesn't slow down the game one bit which was a concern of mine. Backgrounds are now 3d rendered and the characters still duke it out on a 2d plain. It reminded me of Killer Instinct at first, which had jaw-dropping graphics (for its time) but the controls were a bit on the sluggish side. Street Fighter IV however does not suffer from any sluggish controls, and is right on point; it actually plays like Third Strike. The artwork is absolutely beautiful, the characters look as if they were hand painted with vibrant colors and details. I LOVE IT!

And of course for my maiden voyage, who else would I have chosen? Ken Masters!!

Street Fighter IV, coming to an arcade near you!!
(Hopefully that is, we had to drive nearly an hour just to play.)

- jv

This Is Madness!!

Captian James T Kirk in a battle for his life against an Ailurus Lizard from the Planet Yudoo.

warning: very Intense and most certainly not for the faint of heart.

-jv

Testing 1, 2....

hello hello, is this thing on?


the time is now 5:21 pm on sunday, september 7th, 2008


it begins here

-jv