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wannabe2077.
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January 1, 2009 at 7:32 PM #322937January 1, 2009 at 7:43 PM #322444
Arraya
ParticipantLayoffs, shmayoffs…
From today’s New York Post:
Look what taxpayers’ Wall Street rescue helped buy one former honcho!
Peter Kraus — a former top executive at Merrill Lynch who received a $25-million golden parachute after only three months’ work — has landed himself a $37-million Park Avenue pad.
Kraus, 55, doled out the staggering sum for the five-bedroom co-op at 720 Park Ave. near East 70th Street after taking $25 million from Merrill after the company was sold to Bank of America in September.
Chalk it up to brilliant negotiation skills, and being in the right place at the right time: The Post says that Merrill hired Kraus as an executive vice president in summer, and agreed to a $50-million total pay package for him — including the customary giant golden parachute.
“Although he did not officially start work until September, Kraus hit the jackpot after just a couple of days, when Merrill CEO John Thain sold the company to Bank of America,” the Post notes. “The sale automatically triggered the $25 million payout under Kraus’ contract. He left Merrill this month.”
His parachute is equivalent to 0.1% of the $25 billion cash infusion that Bank of America and Merrill together got under the government’s bailout plan for the financial system.
Kraus now is CEO of money manager AllianceBernstein.
Damn it feels good to be a bankster….
January 1, 2009 at 7:43 PM #322789ParticipantLayoffs, shmayoffs…
From today’s New York Post:
Look what taxpayers’ Wall Street rescue helped buy one former honcho!
Peter Kraus — a former top executive at Merrill Lynch who received a $25-million golden parachute after only three months’ work — has landed himself a $37-million Park Avenue pad.
Kraus, 55, doled out the staggering sum for the five-bedroom co-op at 720 Park Ave. near East 70th Street after taking $25 million from Merrill after the company was sold to Bank of America in September.
Chalk it up to brilliant negotiation skills, and being in the right place at the right time: The Post says that Merrill hired Kraus as an executive vice president in summer, and agreed to a $50-million total pay package for him — including the customary giant golden parachute.
“Although he did not officially start work until September, Kraus hit the jackpot after just a couple of days, when Merrill CEO John Thain sold the company to Bank of America,” the Post notes. “The sale automatically triggered the $25 million payout under Kraus’ contract. He left Merrill this month.”
His parachute is equivalent to 0.1% of the $25 billion cash infusion that Bank of America and Merrill together got under the government’s bailout plan for the financial system.
Kraus now is CEO of money manager AllianceBernstein.
Damn it feels good to be a bankster….
January 1, 2009 at 7:43 PM #322849ParticipantLayoffs, shmayoffs…
From today’s New York Post:
Look what taxpayers’ Wall Street rescue helped buy one former honcho!
Peter Kraus — a former top executive at Merrill Lynch who received a $25-million golden parachute after only three months’ work — has landed himself a $37-million Park Avenue pad.
Kraus, 55, doled out the staggering sum for the five-bedroom co-op at 720 Park Ave. near East 70th Street after taking $25 million from Merrill after the company was sold to Bank of America in September.
Chalk it up to brilliant negotiation skills, and being in the right place at the right time: The Post says that Merrill hired Kraus as an executive vice president in summer, and agreed to a $50-million total pay package for him — including the customary giant golden parachute.
“Although he did not officially start work until September, Kraus hit the jackpot after just a couple of days, when Merrill CEO John Thain sold the company to Bank of America,” the Post notes. “The sale automatically triggered the $25 million payout under Kraus’ contract. He left Merrill this month.”
His parachute is equivalent to 0.1% of the $25 billion cash infusion that Bank of America and Merrill together got under the government’s bailout plan for the financial system.
Kraus now is CEO of money manager AllianceBernstein.
Damn it feels good to be a bankster….
January 1, 2009 at 7:43 PM #322866ParticipantLayoffs, shmayoffs…
From today’s New York Post:
Look what taxpayers’ Wall Street rescue helped buy one former honcho!
Peter Kraus — a former top executive at Merrill Lynch who received a $25-million golden parachute after only three months’ work — has landed himself a $37-million Park Avenue pad.
Kraus, 55, doled out the staggering sum for the five-bedroom co-op at 720 Park Ave. near East 70th Street after taking $25 million from Merrill after the company was sold to Bank of America in September.
Chalk it up to brilliant negotiation skills, and being in the right place at the right time: The Post says that Merrill hired Kraus as an executive vice president in summer, and agreed to a $50-million total pay package for him — including the customary giant golden parachute.
“Although he did not officially start work until September, Kraus hit the jackpot after just a couple of days, when Merrill CEO John Thain sold the company to Bank of America,” the Post notes. “The sale automatically triggered the $25 million payout under Kraus’ contract. He left Merrill this month.”
His parachute is equivalent to 0.1% of the $25 billion cash infusion that Bank of America and Merrill together got under the government’s bailout plan for the financial system.
Kraus now is CEO of money manager AllianceBernstein.
Damn it feels good to be a bankster….
January 1, 2009 at 7:43 PM #322946ParticipantLayoffs, shmayoffs…
From today’s New York Post:
Look what taxpayers’ Wall Street rescue helped buy one former honcho!
Peter Kraus — a former top executive at Merrill Lynch who received a $25-million golden parachute after only three months’ work — has landed himself a $37-million Park Avenue pad.
Kraus, 55, doled out the staggering sum for the five-bedroom co-op at 720 Park Ave. near East 70th Street after taking $25 million from Merrill after the company was sold to Bank of America in September.
Chalk it up to brilliant negotiation skills, and being in the right place at the right time: The Post says that Merrill hired Kraus as an executive vice president in summer, and agreed to a $50-million total pay package for him — including the customary giant golden parachute.
“Although he did not officially start work until September, Kraus hit the jackpot after just a couple of days, when Merrill CEO John Thain sold the company to Bank of America,” the Post notes. “The sale automatically triggered the $25 million payout under Kraus’ contract. He left Merrill this month.”
His parachute is equivalent to 0.1% of the $25 billion cash infusion that Bank of America and Merrill together got under the government’s bailout plan for the financial system.
Kraus now is CEO of money manager AllianceBernstein.
Damn it feels good to be a bankster….
January 1, 2009 at 7:53 PM #322454
CoronitaParticipant[quote=eyePod][quote]Outsourcing is overrated. Normally, I haven’t seen work that I personally would like to do that is outsourced (yet). Insourcing is a completely different thing, which in these days make a lot more sense.
[/quote]
That all depends. In some industries, like aerospace, with large engineering staff it is extremely widespread. BTW, what is “insourcing”?[/quote]Insourcing is hiring a bunch of contractors from lower cost areas (midwest for example) and/or hiring a bunch of 1-4 year experience folks to do grunt work, after specifications/designs/etc have been flushed such that all i’s and t’s are crossed such that hiring a “senior programmer” is unneccesary. These days, it’s almost as cost effective outsourcing from india. It ain’t cheap to hire good talent in india these days.
I sort of laugh at companies who can’t get the difference between a “programmer” versus “software engineer”. If a company can’t distinguish between the two, find another company, or you will be outsourced.
January 1, 2009 at 7:53 PM #322799CoronitaParticipant[quote=eyePod][quote]Outsourcing is overrated. Normally, I haven’t seen work that I personally would like to do that is outsourced (yet). Insourcing is a completely different thing, which in these days make a lot more sense.
[/quote]
That all depends. In some industries, like aerospace, with large engineering staff it is extremely widespread. BTW, what is “insourcing”?[/quote]Insourcing is hiring a bunch of contractors from lower cost areas (midwest for example) and/or hiring a bunch of 1-4 year experience folks to do grunt work, after specifications/designs/etc have been flushed such that all i’s and t’s are crossed such that hiring a “senior programmer” is unneccesary. These days, it’s almost as cost effective outsourcing from india. It ain’t cheap to hire good talent in india these days.
I sort of laugh at companies who can’t get the difference between a “programmer” versus “software engineer”. If a company can’t distinguish between the two, find another company, or you will be outsourced.
January 1, 2009 at 7:53 PM #322859CoronitaParticipant[quote=eyePod][quote]Outsourcing is overrated. Normally, I haven’t seen work that I personally would like to do that is outsourced (yet). Insourcing is a completely different thing, which in these days make a lot more sense.
[/quote]
That all depends. In some industries, like aerospace, with large engineering staff it is extremely widespread. BTW, what is “insourcing”?[/quote]Insourcing is hiring a bunch of contractors from lower cost areas (midwest for example) and/or hiring a bunch of 1-4 year experience folks to do grunt work, after specifications/designs/etc have been flushed such that all i’s and t’s are crossed such that hiring a “senior programmer” is unneccesary. These days, it’s almost as cost effective outsourcing from india. It ain’t cheap to hire good talent in india these days.
I sort of laugh at companies who can’t get the difference between a “programmer” versus “software engineer”. If a company can’t distinguish between the two, find another company, or you will be outsourced.
January 1, 2009 at 7:53 PM #322876CoronitaParticipant[quote=eyePod][quote]Outsourcing is overrated. Normally, I haven’t seen work that I personally would like to do that is outsourced (yet). Insourcing is a completely different thing, which in these days make a lot more sense.
[/quote]
That all depends. In some industries, like aerospace, with large engineering staff it is extremely widespread. BTW, what is “insourcing”?[/quote]Insourcing is hiring a bunch of contractors from lower cost areas (midwest for example) and/or hiring a bunch of 1-4 year experience folks to do grunt work, after specifications/designs/etc have been flushed such that all i’s and t’s are crossed such that hiring a “senior programmer” is unneccesary. These days, it’s almost as cost effective outsourcing from india. It ain’t cheap to hire good talent in india these days.
I sort of laugh at companies who can’t get the difference between a “programmer” versus “software engineer”. If a company can’t distinguish between the two, find another company, or you will be outsourced.
January 1, 2009 at 7:53 PM #322956CoronitaParticipant[quote=eyePod][quote]Outsourcing is overrated. Normally, I haven’t seen work that I personally would like to do that is outsourced (yet). Insourcing is a completely different thing, which in these days make a lot more sense.
[/quote]
That all depends. In some industries, like aerospace, with large engineering staff it is extremely widespread. BTW, what is “insourcing”?[/quote]Insourcing is hiring a bunch of contractors from lower cost areas (midwest for example) and/or hiring a bunch of 1-4 year experience folks to do grunt work, after specifications/designs/etc have been flushed such that all i’s and t’s are crossed such that hiring a “senior programmer” is unneccesary. These days, it’s almost as cost effective outsourcing from india. It ain’t cheap to hire good talent in india these days.
I sort of laugh at companies who can’t get the difference between a “programmer” versus “software engineer”. If a company can’t distinguish between the two, find another company, or you will be outsourced.
January 1, 2009 at 8:04 PM #322464CoronitaParticipant[quote=afx114][quote=HiggyBaby]I’ll bet this is Microsoft’s effort to move more deeply into offshoring towards India. This is likely a shift of US jobs to other countries. If true, its not a good sign for us here in the US. And, its more incentive for us to look at competing/public domain offerings like linux, mysql, etc.[/quote]
I don’t know anyone who uses MS stuff anymore. All the big players are already on open source Linux, MySQL, etc.. I’ve administered and programmed on both MS and open source platforms, and I’m never taking on another MS-based project. When I think of MS and MS-based projects, I think of Office Space. Cubicles and billions of lines of code and an army of monkeys that write and maintain it. And staplers. MS is a slowly dying dinosaur.
As for India, I’ve had to work with a few teams in India on projects and it was nothing but headache and sub-par results. From my experiences, the outsourcing of programming is overrated and a lot of companies are going to be disappointed when trying to save a few bucks[/quote]
Actually, some of the big players no longer write “that much code” anymore. Some of the work is using hardware based versions of previous known software packages, a lot work is being done on enterprise software packages that follow standards, or integration technologies. Hence, why you don’t want to stay a “programmer” unless you’re embedded.
Tech is so commoditized these days, it’s cheap to put things together..though opensource is overrated. Without proper documentation/support, it costs an arm and a leg in time.
January 1, 2009 at 8:04 PM #322809CoronitaParticipant[quote=afx114][quote=HiggyBaby]I’ll bet this is Microsoft’s effort to move more deeply into offshoring towards India. This is likely a shift of US jobs to other countries. If true, its not a good sign for us here in the US. And, its more incentive for us to look at competing/public domain offerings like linux, mysql, etc.[/quote]
I don’t know anyone who uses MS stuff anymore. All the big players are already on open source Linux, MySQL, etc.. I’ve administered and programmed on both MS and open source platforms, and I’m never taking on another MS-based project. When I think of MS and MS-based projects, I think of Office Space. Cubicles and billions of lines of code and an army of monkeys that write and maintain it. And staplers. MS is a slowly dying dinosaur.
As for India, I’ve had to work with a few teams in India on projects and it was nothing but headache and sub-par results. From my experiences, the outsourcing of programming is overrated and a lot of companies are going to be disappointed when trying to save a few bucks[/quote]
Actually, some of the big players no longer write “that much code” anymore. Some of the work is using hardware based versions of previous known software packages, a lot work is being done on enterprise software packages that follow standards, or integration technologies. Hence, why you don’t want to stay a “programmer” unless you’re embedded.
Tech is so commoditized these days, it’s cheap to put things together..though opensource is overrated. Without proper documentation/support, it costs an arm and a leg in time.
January 1, 2009 at 8:04 PM #322869CoronitaParticipant[quote=afx114][quote=HiggyBaby]I’ll bet this is Microsoft’s effort to move more deeply into offshoring towards India. This is likely a shift of US jobs to other countries. If true, its not a good sign for us here in the US. And, its more incentive for us to look at competing/public domain offerings like linux, mysql, etc.[/quote]
I don’t know anyone who uses MS stuff anymore. All the big players are already on open source Linux, MySQL, etc.. I’ve administered and programmed on both MS and open source platforms, and I’m never taking on another MS-based project. When I think of MS and MS-based projects, I think of Office Space. Cubicles and billions of lines of code and an army of monkeys that write and maintain it. And staplers. MS is a slowly dying dinosaur.
As for India, I’ve had to work with a few teams in India on projects and it was nothing but headache and sub-par results. From my experiences, the outsourcing of programming is overrated and a lot of companies are going to be disappointed when trying to save a few bucks[/quote]
Actually, some of the big players no longer write “that much code” anymore. Some of the work is using hardware based versions of previous known software packages, a lot work is being done on enterprise software packages that follow standards, or integration technologies. Hence, why you don’t want to stay a “programmer” unless you’re embedded.
Tech is so commoditized these days, it’s cheap to put things together..though opensource is overrated. Without proper documentation/support, it costs an arm and a leg in time.
January 1, 2009 at 8:04 PM #322886CoronitaParticipant[quote=afx114][quote=HiggyBaby]I’ll bet this is Microsoft’s effort to move more deeply into offshoring towards India. This is likely a shift of US jobs to other countries. If true, its not a good sign for us here in the US. And, its more incentive for us to look at competing/public domain offerings like linux, mysql, etc.[/quote]
I don’t know anyone who uses MS stuff anymore. All the big players are already on open source Linux, MySQL, etc.. I’ve administered and programmed on both MS and open source platforms, and I’m never taking on another MS-based project. When I think of MS and MS-based projects, I think of Office Space. Cubicles and billions of lines of code and an army of monkeys that write and maintain it. And staplers. MS is a slowly dying dinosaur.
As for India, I’ve had to work with a few teams in India on projects and it was nothing but headache and sub-par results. From my experiences, the outsourcing of programming is overrated and a lot of companies are going to be disappointed when trying to save a few bucks[/quote]
Actually, some of the big players no longer write “that much code” anymore. Some of the work is using hardware based versions of previous known software packages, a lot work is being done on enterprise software packages that follow standards, or integration technologies. Hence, why you don’t want to stay a “programmer” unless you’re embedded.
Tech is so commoditized these days, it’s cheap to put things together..though opensource is overrated. Without proper documentation/support, it costs an arm and a leg in time.
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