The arbitrage of rental periods turns out to be a somewhat common (or at any rate a not-too-rare) business model. A company or other business entity can enter the market as a tenant, taking long-term rental properties, and then turn around and serve as landlord, leasing out the same spaces (perhaps after renovating them, etc.) to shorter-term and higher-rent paying tenants. If this works: great! The arbitrager has one stream of money going out the door and another larger stream coming in the door. If it doesn't work ... the relations between a landlord and a tenant can become a complicated matter once the tenant has placed itself under the protection of a bankruptcy court by way of a chapter 11 filing. As sub-lessor tenants attempting this arbitrage play have done repeatedly. This isn't the most exciting subject in the world but, hey, this is a hobby blog. My hobby blog. I may come up with something that interests you more the next time. If a business declares bankruptcy
Friday, I shared some thoughts about Rudyard Kipling's poem RECESSIONAL. I quoted especially this verse: Far-called, our navies melt away; On dune and headland sinks the fire: Lo, all our pomp of yesterday Is one with Nineveh and Tyre! Judge of the Nations, spare us yet, Lest we forget—lest we forget! Today I would like to talk briefly about the two Biblical references, Nineveh and Tyre. Nineveh figures in the story of Jonah. Jonah was ordered to deliver God's wrathful message of impending destruction to Nineveh, a city near the one we know as Mosul. Jonah is reluctant to do his duty, and in the course of his flight he is swallowed whole by a large sea creature. Everybody remembers that bit. What they might not remember is that eventually Jonah gets to Nineveh. He cries out that in forty days God will destroy the city. But Nineveh reforms its ways. God sees this and relents. Nineveh is not destroyed. The biblical resonance of Tyre is a bit stranger. In the book of E