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[quote=AN]

Don’t you mean, we should be truly worried? I’m sure he already have plans to spend that $1.5B. So, if that comes out to be $700M, we might have to backstop the difference.[/quote]

Yes. And if I may add all those tax rises that he is proposing will also bring in much less money since there will be fewer people making above 250K at this rate.

[enron_by_the_sea]

[quote=AN]
Burn baby burn…. We still have almost 2 months to go to. If Europe explode, man, this thing might go down to single digit.[/quote]

Jerry Brown should be truly worried. He is counting on $1.5B revenue from FB IPO assuming $35 price …

http://latimesblogs.latimes.com/california-politics/2012/05/facebook-california-budget.html

[enron_by_the_sea]

[quote=flu]
UC’s schools, if I recall never have face to face interviews (at least not when I did it).
[/quote]

In future, they will just need to check the Facebook/Myspace/Linkedin/G+ profile of the applicant, his parents etc. to determine race!

Another reason to stay off those things !!!

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[quote=flu]
A $25/share put expiring mid july is $100
[/quote]

Doesn’t make sense …

[enron_by_the_sea]

[quote=AN]
Luckily, I don’t have to change my kids’ last name. There’s no way anyone can tell they’re Asian by their names.
[/quote]

I don’t think this strategy works. I remember reading stories in the press that elite schools (e.g. Harvard) also require the applicants to go through face to face interview with one of their alumni. There were allegations that these interviewers have a code to tell the admissions committee that the applicant belongs to such and such race if that is not clear from the file itself! If UC schools do not have this system yet, they will surely have it in place as more and more people will try to game the system! LOL!!!

[enron_by_the_sea]

[quote=flu]

Seriousness though, I guess android O/S techies just got an extension to the shelf life of this skillset if we get into an out war on Android O/S stock versus Android-modified Kindle versus soon to be Android O/S FB phone + Google TV…

[/quote]

flu, Have you thought about the possiblity of Moto-google also making a fork of Android for their own exclusive use? That would really make this landscape, well, weird ..

[enron_by_the_sea]

[quote=markmax33©]

[enron_by_the_sea]

Such monumental projects should be built by a government that has no requirement to balance budget, market power to borrow practically unlimited amounts of money and one who can print money if the project does not work out. That would be the Federal Govt. of United States in 1930s.

The Federal Govt in the 2010s is in weaker position to fund such projects than the one in the 1930s because the debt-to-GDP ratio in the 1930s was much smaller than today. Most people miss this very important point.

Almost any great highly expensive project that you can think of in the world was built by a govt. that met conditions that I described above.

But Feds can still do it. So if they want to build high speed rail in CA and pay for it we should all welcome them here.

However, the State Govt of CA is a different animal. They have constitutional requirement to balance their books every year, they can not borrow unlimited amount of money from bond markets and they do not print their own currency. Also the last time I checked, we have a severe problem balancing the budget as is.

State Govt. of CA can not afford HSR and should not dream up such projects which have high probability of ending up as white elephants.

[enron_by_the_sea]

[quote=SK in CV]
That makes no sense at all. Even if Morgan Stanley does own all the float (which, if true, means they own all non-restricted shares), an absurd claim on its face, FB still got the proceeds of this IPO that they bargained for. (I think somewhere around $7 billion, less costs.) Why would they have to do a new offering?[/quote]

It was not a good joke then 🙁

[enron_by_the_sea]

[quote=joec]Wanted to add that Morgan Stanley also had to step in and buy shares to support the price so it doesn’t drop BELOW $38 so if they didn’t do that (it’s legal btw), the offering may have done a bit

[/quote]

The joke is that FB will have to do a second IPO now because all the float in the market is now again owned by the underwriter, Morgan Stanley.
http://www.reuters.com/article/2012/05/19/facebook-morgan-stanley-idUSL1E8GIER020120519

In other wierd news on this topic, some dude put in a limit order for $4000 on Friday for a buy! That is a limit order for market cap of $10.5 Trillion! Perhaps this was a case of fat finger …
http://blogs.wsj.com/marketbeat/2012/05/18/crazy-but-true-a-4000-facebook-limit-order/?mod=google_news_blog

[enron_by_the_sea]

[quote=harvey]
Sales work has a reasonably close correlation between performance and pay.
[/quote]

Really? There will be times when things will sell for themselves (Good product, high demand, good economy, no competition etc.) and there will be times when nothing will sell (bad product, no demand, recession, competition etc.)

In general salesmen will be paid more in the first scenario than in the second no matter what they did ..

[quote=EconProf] But companies that pay and promote by performance tend to do better than their competitors who don’t and thus trounce them in the marketplace. [/quote]

Maybe Economics prof. is falling too much in love with the idealized model of how an economy should work as described in the textbook? [ as opposed to how it really works 🙂 ]

I believe in the maxim that 90% of success in life is just showing up at the right time at the right place 😉

[enron_by_the_sea]

[quote=briansd1]

American teenagers, especially in the lower social-economic rungs, are disrespectful and out of control. Teachers and administrators can’t control them. [/quote]

And if that is true, how does lower class size solve that problem?

[enron_by_the_sea]

[quote=flu]….but hey, at least if you’re undocumented resident in CA you still qualify for fee-reduced tuition..Because after all, CA can afford this. Really we can… (snicker snicker)..
[/quote]

At this rate there will be no difference between in-state and out-state tuition for UC/CSU and thus making undocumented students eligible for in-state tuition via California DREAM act will mean … well nothing!

[enron_by_the_sea]

[quote=blake]Wonder how long before 100 becomes the new 250 here in CA …

http://www.washingtonpost.com/local/md-politics/2012/05/16/gIQAfPutUU_story.html%5B/quote%5D

Be very afraid! The tax hike party is close to getting 2/3 majority in both the state assembly and state senate. After november the last line of defense between you and the tax hike ( public vote) will be gone.

[enron_by_the_sea]

[quote=profhoff]Any details on the “graduated” increase in state income tax for earners in the $250,000+ category?[/quote]

http://ballotpedia.org/wiki/index.php/California_Sales_and_Income_Tax_Increase_Initiative_%282012%29

From the link
[quote]
Raises California’s sales tax to 7.5% from 7.25%, a 3.45% percentage increase over current law. (Under the Brown Tax Hike, the sales tax would have increased to 7.75%)
Creates three new high-income tax brackets for taxpayers with taxable incomes exceeding $250,000, $300,000, and $500,000. This increased tax will be in effect for 7 years.

Imposes a 10.3% tax rate on taxable income over $250,000 but less than $300,000–a percentage increase of 9.71% over current policy. The 10.3% income tax rate is currently only paid by taxpayers with over $1,000,000 in taxable income.

Imposes an 11.3% tax rate on taxable income over $350,000 but less than $500,000–a percentage increase of 17.7% over current policy.

Imposes a 12.3% tax rate on taxable income over $500,000–a percentage increase of 24.39% over current policy.

[/quote]

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