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Allan from Fallbrook
ParticipantWow. I realize I should have some pithy, or topical comment, but all I can come up with is: Wow.
“This should turn out well”. Yeah, huh?
$12,200 per month in carrying costs! If this guy is struggling now, wait till the full effect of his new monthly burn rate hits.
I hear those Bosa developments are also in the firing line as far as pending latent defect/construction defect lawsuits go as well.
Greed and stupidity are a lethal combination.
Participantqwerty007: Which Willis office(s), and when? I was CFO of San Diego and Orange County offices, and worked with them from 1989 through 1997.
Very good learning experience, but am glad to be out on my own, which I have been since I left in 1997.
Participantqwerty007: Which Willis office(s), and when? I was CFO of San Diego and Orange County offices, and worked with them from 1989 through 1997.
Very good learning experience, but am glad to be out on my own, which I have been since I left in 1997.
Participantqwerty007: I don’t think they are untethered at all, especially in the case of Swiss banks. These banks, for the most part, cooperate fully with the US Dept. of Justice as regards information sharing, and that does not bode well if you wish to protect your money from government intrusion.
I used to work for a large international insurance broker, Willis PLC, based out of London. We did a tremendous amount of business with captive insurance and reinsurance, based out of the Caribbean. We worked with Citi, Deutschebank, and Barclay’s, all of whom had offices down there. The quality of personnel was top-notch and, in point of fact, several of the larger Swiss banks posted senior personnel there solely to work the financing angle on captives.
A large oil company, which shall remain nameless, worked with us on creating a captive for its oil tankers and their cargo. The tankers were Bahamanian flagged, the oil cargo was owned by a shell in the Netherland Antilles, we handled the captive, AIG (through Ace in the Caribbean) did the reinsurance “layering” and Royal Bank of Scotland (through their correspondence branch in the Caribbean) did the finance and banking.
Plus, the weather is nicer and the flight is shorter.
Participantqwerty007: I don’t think they are untethered at all, especially in the case of Swiss banks. These banks, for the most part, cooperate fully with the US Dept. of Justice as regards information sharing, and that does not bode well if you wish to protect your money from government intrusion.
I used to work for a large international insurance broker, Willis PLC, based out of London. We did a tremendous amount of business with captive insurance and reinsurance, based out of the Caribbean. We worked with Citi, Deutschebank, and Barclay’s, all of whom had offices down there. The quality of personnel was top-notch and, in point of fact, several of the larger Swiss banks posted senior personnel there solely to work the financing angle on captives.
A large oil company, which shall remain nameless, worked with us on creating a captive for its oil tankers and their cargo. The tankers were Bahamanian flagged, the oil cargo was owned by a shell in the Netherland Antilles, we handled the captive, AIG (through Ace in the Caribbean) did the reinsurance “layering” and Royal Bank of Scotland (through their correspondence branch in the Caribbean) did the finance and banking.
Plus, the weather is nicer and the flight is shorter.
ParticipantI’m not entirely sure I understand the need for a Swiss bank account.
All of the major international players, including Swiss banks, have branches in the Caribbean.
While I do understand the “white glove” nature of private Swiss banking, how does this equate to wealth protection?
Also, you’ve been asked a few times for the name of the bank in question, but that answer has not been forthcoming. Would you mind passing that along?
ParticipantI’m not entirely sure I understand the need for a Swiss bank account.
All of the major international players, including Swiss banks, have branches in the Caribbean.
While I do understand the “white glove” nature of private Swiss banking, how does this equate to wealth protection?
Also, you’ve been asked a few times for the name of the bank in question, but that answer has not been forthcoming. Would you mind passing that along?
October 15, 2007 at 1:32 PM in reply to: OT: Wow, the Raiders came to town, lost, and the city isn’t burning #89128ParticipantJPJ: The only thing I can say is this: Go see a Raiders game in Oakland. Then you can truly be thankful when your entire neighborhood isn’t left looking like downtown Berlin, circa 1945 following a Chargers – Raiders game.
We could be worse. We could be Manchester United fans!
October 15, 2007 at 1:32 PM in reply to: OT: Wow, the Raiders came to town, lost, and the city isn’t burning #89137ParticipantJPJ: The only thing I can say is this: Go see a Raiders game in Oakland. Then you can truly be thankful when your entire neighborhood isn’t left looking like downtown Berlin, circa 1945 following a Chargers – Raiders game.
We could be worse. We could be Manchester United fans!
October 15, 2007 at 9:11 AM in reply to: OT: Wow, the Raiders came to town, lost, and the city isn’t burning #89042ParticipantFLU: Thank God you don’t generalize and lump all Raider fans together. And, thank God, there aren’t any thug Charger fans!
Raiders actually look a lot better this year than last, and the Chargers are still getting used to having “Nervous” Norv Turner as a coach.
LT looked like LT again. He must have woken up, what with Michael Turner breathing down his neck and all.
All of this, of course, is a moot point. The Raiders won’t go to the playoffs, and any AFC team that does will get obliterated by the Patriots.
Come playoffs, all you polite, well coiffed and sartorially resplendent Chargers fans will be joining me on the couch.
October 15, 2007 at 9:11 AM in reply to: OT: Wow, the Raiders came to town, lost, and the city isn’t burning #89051ParticipantFLU: Thank God you don’t generalize and lump all Raider fans together. And, thank God, there aren’t any thug Charger fans!
Raiders actually look a lot better this year than last, and the Chargers are still getting used to having “Nervous” Norv Turner as a coach.
LT looked like LT again. He must have woken up, what with Michael Turner breathing down his neck and all.
All of this, of course, is a moot point. The Raiders won’t go to the playoffs, and any AFC team that does will get obliterated by the Patriots.
Come playoffs, all you polite, well coiffed and sartorially resplendent Chargers fans will be joining me on the couch.
Participantdeadzone: Dude! Don’t hold back now, tell us how you really feel!
All kidding aside, I have to profess that I too am tired of this incessant whelping from homedebtors about how their realtor/mortgage broker/bank/etc misled them into a toxic loan.
Purchasing a home represents the single largest financial commitment you will make in your life (generally speaking), and the responsibility for reading the fine print and knowing the terms of the loan is yours and yours alone. The majority of these people bought into the hype and now want to duck their responsibility because they weren’t able to flip their property and make an obscene profit quickly.
Any investment banker worth their salt will tell you about risk versus reward, and that there is no such thing as either a free lunch or a sure thing.
I agree about traffic, too, by the way. Especially on that 15 corridor.
Participantdeadzone: Dude! Don’t hold back now, tell us how you really feel!
All kidding aside, I have to profess that I too am tired of this incessant whelping from homedebtors about how their realtor/mortgage broker/bank/etc misled them into a toxic loan.
Purchasing a home represents the single largest financial commitment you will make in your life (generally speaking), and the responsibility for reading the fine print and knowing the terms of the loan is yours and yours alone. The majority of these people bought into the hype and now want to duck their responsibility because they weren’t able to flip their property and make an obscene profit quickly.
Any investment banker worth their salt will tell you about risk versus reward, and that there is no such thing as either a free lunch or a sure thing.
I agree about traffic, too, by the way. Especially on that 15 corridor.
Participantbeachlover: Apropos of nothing, but JWM and temeculaguy happen to be two of my favorite posters, and largely because of their different approaches. While JWM is definitely more hard edged than TG, I have never felt that he went out of his way to trash someone. To the contrary, he makes a good point and drives it home hard. As a former finance guy, I completely understand the mentality. It is called “not suffering fools gladly”.
I would also point out that most posters on Pigginton’s try to observe the rules of fair play, and treat others with respect. I had a debate on Islam with Rustico that could have become downright nasty and never did. Why? Because both of us understood the nature of debate and that argument, done right, can be enlightening, invigorating and informative.
As a football coach, I will tell you what I tell my players: This ain’t badminton, ladies. Give as good as you get, and then some. If you know the rules, then play the game and don’t whine about the outcome if you lose to a better opponent. Get up, dust yourself off and go right back after it.
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