[no_such_reality]

[quote=SK in CV][quote=flu][quote=no_such_reality]Great article link Rich!

I’d guess as a starting place to look would be Trump Hotels and Casinos Resorts established in 1995 and BK’d in 2004 at about $1.8B in debt.

Which then renamed Trump Entertainment … that BK’d again in 2009 at another $1.2B.

If the business entity held the parked debt and failed to collect in nine years, an then another 5 would it still be enforceable?

Madoff debt parking ponzi scheme? Capone-esque tax avoidance?

Honestly, a true expose on this would be wonderful just to educate people.[/quote]

Just out of curiosity for those with tax background, why would the IRS not have ruled on this over the past years? Is it he keeps rolling it into one entity, after another?[/quote]

They have. He’s said all years are closed I think prior to 2010. Any rulings are confidential unless subject to a court decision, which there haven’t been any. So we have no way of knowing whether this $900 million deduction withstood scrutiny.[/quote]

Actually you can go one step further. The only way Trump used it to ‘not pay taxes for 18 years’ like the NY Times implied is if the IRS looked at it and basically said, it’s Legit.

Or they said it wasn’t, backed it out and settled it like with any other audit.

Or he got whacked in a later year with debt forgiveness (like some homeowers post bubble)

Or, IMHO most likely, the BK debt passing game has been going on for a long time.

[no_such_reality]

Great article link Rich!

I’d guess as a starting place to look would be Trump Hotels and Casinos Resorts established in 1995 and BK’d in 2004 at about $1.8B in debt.

Which then renamed Trump Entertainment … that BK’d again in 2009 at another $1.2B.

If the business entity held the parked debt and failed to collect in nine years, an then another 5 would it still be enforceable?

Madoff debt parking ponzi scheme? Capone-esque tax avoidance?

Honestly, a true expose on this would be wonderful just to educate people.

[no_such_reality]

Capital loss, operating loss, doesn’t really matter. The tax and business laws are (were) such that maximizing the paper loss ( real losses too) allows carry forward. Then discharging that loss with a BK.

I did loss realization thing in 2001 & 2002, I maximized my realized taxable losses to minimize taxes going forward. I still had more money than I had in 2000, I just didn’t have the vapor money I had in 2001. I skipped the BK part.

He lost a billion and 20 years later not only is still standing, but living larger.

I can point to all sorts of successful business that have lost a billion in any given year.

None of which changes my mind on not voting for him.

[no_such_reality]

[quote=flu]Well, that didn’t take long….Lol, let the slugfest begin.

https://twitter.com/HillaryClinton/status/782756130158108672%5B/quote%5D

It’s Trump, the tax and business question is completely fair.

Unfortunately how come I have 100% faith that when Hillary says make them pay their fair share, Elon Musk and Donald Trump will still be guzzling at the trough and paying little while people like you Flu will be seeing a dramatic rise in taxes?

It’s actually sad watching the majority of the public being played with “squirrel”. World leader you like and respect … Or just glossing over “may”, $915M capital loss, that’s yuge, but I carried capital losses for a lot of the 2000s too.

JIMHO, Trump needs to own this if he wants it to go away or not wipe him out of the election. I don’t think he can as I think doing so will expose him as being puff and his business skill is sticking people with the bill.

[no_such_reality]

[quote=flu]

I agree his taxes were most likely legal…

But that’s not the point…You didn’t go off bragging about how smart you were and how smart you are with business, and how successful your businesses were, and even if you did do those things, you definitely didn’t use those falsehoods as a platform as to why the american people should trust you with “making america great again”.

All this is one more data point about what a con man he is. This is beyond the Trump University con.

What I find really interesting is that Trump is now complaining that someone illegally stole his tax return and published it to the NYT…And yet a few weeks ago, he didn’t seem to mind how the Russians hacked into the DNC….

Karma sure is a bitch.[/quote]

LOL, true, my opinion on Trump has long been his principal business skill is getting someone else to leave with the bag.

[no_such_reality]

Trump is going to get slaughtered on this like Romney and frankly I don’t care.

I could tell you everything wrong with the reporting and the perception, but then I’d be helping Trump.

I’m guessing, like me, you did everything you legally could to minimize your 2015 tax bill when doing your taxes.

[no_such_reality]

[quote=tnuomarap]
So it sounds like in today’s world (in areas of So Cal) a 3/2.5 house in good (but not perfect) condition on a quiet street within easy walking distance to excellent schools is so undesirable it can’t be sold unless sold at wholesale.

That is what I suspect and am seeing.[/quote]

Sorry that’s not what you’re seeing. A good 3/2.5 with excellent schools SFR is selling like you’re the only guy with drugs at a rave in this market.

If it’s not, you’re not being realistic with what you really have or where the market really is at.

It’s that simple.

[no_such_reality]

If investors are looking at it I would guess the following scenario. The house was built in 1989, unless you did a major remodeling during the bubble or following. Is everything still circa 1989?

It can be completely functional and in decent shape, but an investor will see the need to replace all of it.

The vast majority of new buyers aren’t looking to step into a major rehab project (again for taste reasons). Nor are they looking for a 1989 kitchen and bath.

So you may have a few options, re target towards that rare first time buyer that will see the house as live able and nice for 3-5 years until they’re ready to remodel, remodel yourself l(be your own investor), or sell to investor that will flip it

I don’t foresee many move down buyers looking to buy and remodel to have a house that the is costing market for the fixed place unless there’s something special about location or house (Eichler home with view etc)

[no_such_reality]

You just said it. Ten years. Maybe more. There aren’t a 158 million r&d jobs

If that change happens in ten years are we anywhere near ready for it?

Your article said the economy is bifurcating, it’s not 50/50. 95/5 maybe 99/1. That’s not sustainable.

H1bs. Offshore sourcing, they’re all just intermediary steps. They’ll all be replaced.

[no_such_reality]

Why your software developer will soon been replaced by a robot.

Uber drivers have five years tops. I used to work in Pharma, 95% of the High paying R&D jobs really aren’t much more secure than the uber drivers. IMHO.

Tech R&D? Think about how many junior roles have already been displaced by automation just extrapolate that out.

So far the demand for anew flappy bird has outpaced automation, but automation is gaining fast.

[no_such_reality]

[quote=SK in CV][quote=bearishgurl]The laid-off worker is free to look for another job from day one. If they got any “severance” at all, it must be reported to EDD. The worker is still eligible for 26 weeks of UI from the week after the severance pay ends.

Let’s just say these laid-off Disney IT employees were making an average of $80K annually. That’s $20K gross for 3 months FT work plus a $2K “bonus” (~$22K) IF their cheaper foreign replacement “gets it” after 3 months (MINUS ALL PAYROLL TAXES)! It’s still not worth it . . . that is if FL has a ~$450 cap on their weekly UI paymen

[/quote]

Severance pay doesn’t affect UI benefits in California, irrespective of whether it’s paid in a lump sum or periodically. It does, however, in Florida, where maximum weekly benefits are $275/wk, and are reduced by periodic severance.[/quote]

I’ve shuffled many people through these processes, most of them simply due to M&A activity. The emps all take the deal because they immediately start looking for a job. Being employed and looking makes you employable.

Telling your employer to f— themselves because they outsourced or merge makes you close to untouchable as a hire. JIMHO.

I myself have been through it six times due to M&A.

[no_such_reality]

In California, UI benefits are capped at $450/wk.

That’s $2200/month.

[no_such_reality]

[quote=flu-redux]

My argument isn’t against paying farm workers more. My argument is about people making the claim the immigrants and migrants are stealing “their jobs”. Looks to me that those jobs are not good enough for people, because they don’t appear to be filled by the people that complain.

Just like all the whiners that complain about H1B without having the education or experience in ever writing a usable like a code.

People just complain way too much. That’s why the often let opportunity slip right by them, and someone else ends up seizing those opportunities. I hardly feel sorry for anyone who does.[/quote]

Again, hard physical work in semi-remote (way-rural) locations exposed to the elements for $12/hr or Starbucks in AC in local area for $15/hr.

Besides, I really doubt, you or I could even get hired to work a field if we wanted.

The farm business has been complaining and claiming people don’t want those jobs, yet they still, since McCain sat their shooting his mouth off about it in 2008, haven’t increased wages.

If business was a person buying a house in San Diego, they’d be complaining about no good homes while still trying to pay $150K for a 3 bedroom SFR ranch on the coast.

Why is that? Because we’ve allowed a continual stream of abused labor to be exploited. So the wages are still $12/hr.

[no_such_reality]

[quote=flu][quote=no_such_reality]Silly, labor is a small part of the supermarket cost of food.

What’s really driving increases? Consolidation of the intermediaries and major players. i.e. Bayer & Monsanto merging.

Of course, raise prices enough and the average American might actually end up spending more on fresh fruits & vegetables than booze. Today, the average is more is spent on booze than fruits & veggies.
[/quote]

There’s that too. And there’s cost of paying the CEO and the labor unions…. But someone needs to pick the fruit.. Just saying…
Anyway, folks on fixed income who previously said that companies should pay higher wages…Well, you got and will get what you wanted… (Not saying it’s a bad thing for those farm workers)..But for some of you on fixed income, well that remains to be determined..Lol…[/quote]

I agree someone has to pick the food. And just like software engineers, when you can’t find them to hire, you raise your wages.

All the complaining about no workers, yet average wages are $12/hour… to work in a field when it’s 102F, in blazing sun doing hard physical labor that would just about kill the typical suburban office worker that thinks they’re in shape.

This isn’t meant as an insult, I don’t think any of us semi-urban workers have delusions that we could play in the NFL, NBA or MLB although many of us all have the basic skills to “get the job done”.

Today’s farm field work, is the same way. You may have the basic understanding of the skill and capability, but you really don’t have the physical skill and conditioning to survive in the field without being carried by your coworkers for the first month or more. IMHO. Yet as a society we down rationalize paying them because “anybody” can do it.

[no_such_reality]

Silly, labor is a small part of the supermarket cost of food.

[quote]What would happen to consumer food costs if farm wages rose and the extra costs were passed on to consumers? The average earnings of field workers were $9.78 an hour in 2008, according to a U.S. Department of Agriculture survey of farm employers, and a 40 percent increase would raise them to $13.69 an hour. If this wage increase were passed on to consumers, the 10 cent farm labor cost of a $1 pound of apples would rise to 14 cents, and the retail price would only rise to $1.04.[/quote]

What’s really driving increases? Consolidation of the intermediaries and major players. i.e. Bayer & Monsanto merging.

Of course, raise prices enough and the average American might actually end up spending more on fresh fruits & vegetables than booze. Today, the average is more is spent on booze than fruits & veggies.

[quote=flu]Don’t let facts get in the way of the hate….

http://money.cnn.com/2016/09/29/news/economy/american-farm-workers/index.html

The worker shortage facing America’s farmers

A recent Pew Research report found that more Mexican immigrants are now leaving the U.S. than coming into the country, citing tougher enforcement of immigration laws and the slow economic recovery here in the U.S. (The report accounted for both documented and undocumented immigrants).
With fewer workers, farm owners say costs are rising and they often must leave unpicked fruit to rot in the fields. Many producers are even opting to leave the U.S. for countries with lower costs and fewer regulations, said Tom Nassif, CEO of Western Growers, a trade organization that represents farm owners both in the U.S. and abroad.
“We’re pretty much begging for workers. It’s very bleak,” he said.

The competition for workers has sent average farm worker wages up 5% in the past year, to $12 an hour, according to the U.S. Department of Agriculture figures. That’s $2 higher than California’s $10 minimum wage, with some farmers saying they pay as much as $15 an hour, according to Nassif.

And costs keep rising. Two weeks ago, California expanded its overtime rules to include migrant farm workers. That means farm owners must pay one and half times the employee’s regular rate after they have worked a certain number of consecutive hours.

With increased competition for labor, workers are also asking for and winning better working conditions, such as a 15-minute shade break for each hour of work.
“If they don’t like how they’re being treated or what they’re being paid, they’ll just go to another farm,” said Nassif.

Still, the increased pay, improved working conditions and overtime benefits have failed to attract many American workers.
“Of the 300 workers I have in the field, two are Americans,” said Joe Del Bosque, a farm owner in Firebaugh, California.

So much for Obama’s open border silliness. Older folks on fixed income, be prepared for a lot higher food costs. But hey, now you can put your money where your mouth is (literally and figuratively)… Looks like even the loaves of bread past the expiration date will be more expensive.[/quote]

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