[Coronita]

[quote=svelte][quote=flu]

I’m pretty thankful I’ve been given the opportunity to get out…I don’t know how long the new opportunity will last, but I think staying in the semiconductor industry when you are a software guy is an extremely career limiting move. The good old days of software selling hardware are over.[/quote]

It probably is a smart move to get to a sw-focused company, not a hw focused company.

However, there are still some opportunities in hardware – at least in the Bay Area.

Indications are very very strong that both Apple (mostly a hw company) and Google (mostly a sw company) are posturing themselves to enter the automotive business.

I’m looking forward to it. With the exception of Tesla, it has been a long long time since the US has had a successful new car company come along. And the jury’s still out on whether Tesla will survive.

My son is a car nut and in the bay area – he’s salivating at the opportunities arising all around him up there.[/quote]

I think there’s a huge market for IOT devices and great opportunities for both software and hardware guys/gals. But I think to expect them to come out of a semiconductor company is unrealistic. Chip companies aren’t usually good at coming up with customer end user products. I’m not going to a pure software company. I just don’t want to work in the semiconductor industry anymore, where you’re at the bottom of the food chain in what is given to a customer.

The way it works is you have a customer like a cell provider that screams at at a phone OEM to deliver a phone cheaper and sooner. And then you have the OEM scream at the chip suppliers to deliver things faster and cheaper. Being at the bottom of the food chain, well, sucks.

[Coronita]

[quote=The-Shoveler]I think even Apple’s results indicated the smartphone biz kind of topping out.

What do you do when you cannot continue to grow 15-20% a year?

Same issue with health care (share holders want to see 15-20% growth year after year after year).

What to do.[/quote]

You sell medical MJ 🙂

Hardware is saturating. Software has a way to go….But the problem is, it’s not Q’s core competency (or any semiconductor company for that matter). With the lack of a direction/drive for new technology that drives hardware, all these chip companies are going to be competing on cost, which isn’t going to end well for U.S. companies, imho.

I’m pretty thankful I’ve been given the opportunity to get out…I don’t know how long the new opportunity will last, but I think staying in the semiconductor industry when you are a software guy is an extremely career limiting move. The good old days of software selling hardware are over.

[Coronita]

[quote=ltsdd]15% cut….sounds like Q is in self-preservation mode. In conference call, there’s not much substance as to how it plan to grow. It’s mostly about cost reduction. Doesn’t sound like a solid strategy to right the ship. The reduction in bonuses/RSU for a total of $300 mil is going to hurt.[/quote]

$300 million reduction of assuming 25000 left, that comes out to be about $12k per person. With taxes, that’s probably an extra $7-8k people won’t see. Not earth shattering. Probably bring Q comp packages closer in line to what other semiconductor company packages are these days.

[Coronita]

[quote]

Are you saying the average Qcom engineer makes 200K per year? Sounds a bit high to me, maybe I need to put in a resume.

Also, why are Indians not considered Asians, even though they come from the continent of Asia?[/quote]

I’m saying that including base+ RSU + bonus, $200k would be about average for someone probably Staff level or higher, which wouldn’t be out of line with what other companies are paying for someone with similar experience in years and work….which is probably also the same sort of extra benefits that QCOM is trying to cut that they just announced….But again, that was before all the cuts.

And I don’t know why Indians and Asians are classified differently, when you fill out the ethnicity bubbles, but it is what it is.

[Coronita]

Well, we will find out this afternoon. I don’t think the bulk of the cuts, if anything major will come from San Diego. I think the bulk of the cuts will come from Bay Area and elsewhere.

They bought like 3 wireless connectivity companies (Atheros, CSR, and I forget some one before Atheros). There’s probably more than one team competing against each other doing the exact same thing. kinda like we were when our company bought 3 LTE companies…. We know how that ended. 🙁

I don’t think this will drastically impact SD housing market per se, since it seems like the SD professional market is now pretty well diversified. Biotech seems to be doing very well at this moment.

A lot of the engineering households that are already able to afford north county (which itself is a problem…affordability), for example, tend to be dual income households to begin with, most likely both professionals (particularly the asian and indian households). So the difference is that a $300-400k/year household goes to about around $200k/year household. There’s probably going to be some people that relocate out (single income households, that also has the bad luck of not being able to find something else), but then there’s still these influx of other buyers (foreign and domestic) that aren’t even tied to Qualcomm or engineering for that matter.

It sucks for the people impacted, but life goes on for everyone else.

[Coronita]

[quote=livinincali]The land is owned by these guys. Based on their past projects looks like mostly residential with some possible ground level retail.

http://mksresidential.com/%5B/quote%5D

So rentals…

[Coronita]

[quote=paramount][quote=flu]I have before on the X5 and more on the 550, but I drive my cars to the ground, and I’m pretty handy. My biggest regret? Wish I just combinded both purchases and just bought an M5, though one ended up being a gift for my dad. Financially, does it make sense? Nope. Oh well.[/quote]

Flu, would you drop 55k or more on a Tahoe/Yukon? As mentioned, definitely a nice ride.[/quote]

No. Because in hindsight, I realized how little enjoyment I have in driving an SUV.
I do like having a bigger car for transporting the kid. But that’s just me. If folks like an SUV and you have the funds, why not? You only live once.

If I had to get something big right now, I probably would get the upcoming Ford F150 Raptor in the new aluminum bod panels over any SUV, along with a trailer hitch. Those things are bitchin. And pretty reliable. Those are around $50k after tax license etc.

I always wanted a bad ass truck since I was a little kid.

[Coronita]

I have before on the X5 and more on the 550, but I drive my cars to the ground, and I’m pretty handy. My biggest regret? Wish I just combinded both purchases and just bought an M5, though one ended up being a gift for my dad. Financially, does it make sense? Nope. Oh well.

[Coronita]

[quote=rockingtime]guys,
i am not sure what kind of bank it was but it was not probably gse.., for my second hse my lender was brian wada..
my first house was paid off almost and i had dti in control per my knowledge.
I am not financially very savvy when it comes to details but I definitely have an eye over the bigger pic.

r u guys planning to buy now ?[/quote]

I’m always looking. Would you mind digging up your old loan papers and find out which one of your lenders wasn’t GSE. I’d really really appreciate that because, it would be great to know in case I wanted to include my rental income more of my recent purchases as a means of borrowing for something else.

[Coronita]

[quote=AN][quote=spdrun]Not all loans are GSE-backed…[/quote]Right, but 90+% are, especially around 2011/2012. Which is why I asked which bank he uses.[/quote]

Yeah, I want to find that 10% too. 🙂

Rocking time. Can you tell us how is that lender because I really want to find those that aren’t gse.

[Coronita]

[quote=AN][quote=rockingtime]
Also, which bank did you use that allow you to use rental income from a rental that you just acquired w/in a year? The lenders I’ve worked with all said I have to be a landlord at least 2 years before I can use 75% my rental income as income.[/quote]

Ditto. That’s the part I don’t understand because it was to my understanding that wasn’t something that was at the discretion of the bank to make. That was something that was mandated by Freddie/Fannie Mac. So that’s why I assumed that was the case for all loans.

[Coronita]

[quote=AN]My sources tells me that although QCOM is laying off, they’re also hiring as well. So, maybe it’ll be net 0. We’ll never know.[/quote]

They are probably laying off higher paid people and replacing them with newer college grads.

[Coronita]

[quote=rockingtime]Yeah, I have mortgage on all three
I always need to be in a position to be able to afford the 2 houses: The one I am living and another I want to buy.

When I bought the third house, I simply showed them the rental receipts for second house, it means lender does not have to worry about second house as rent covers the mortgage for second house[/quote]

But didn’t you have at least awaiting period before rental income on a new rental property could be considered as income? My understanding (as it was explained to me from lenders) was that my rental income could not count towards your “income” in qualifying for new loans if the rental property was relatively new (within a year or within 2 years for some lenders).

[Coronita]

[quote=FlyerInHi]Canadian dollar is now down to 77c.
There maybe a housing crash. Or not, if the Chinese take advantage to buy. That is if there’s no market crash in China.

Iranian oil will start flowing again and the Saudi might pump more. Canadian oil is looking expensive. I guess XL keystone is not necessary.[/quote]

I wouldn’t mind picking up a place in Vancouver

[Coronita]

[quote=rockingtime]short sale../
dont have any exp with court house pickings..,
i am just an avg joe..[/quote]

Cool. thanks for the info. Did you have any problems with qualifying for so many loans? I got the runaround trying to qualify on a w2 with an existing primary home and the first rental during that time. I almost had to partner up with someone to qualify. So i was just curious how you managed to pull this off when loan standards were pretty tight.

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