[sreeb]

You won’t be able to buy a decent set for both metric/sae for $120. Anything less then the best tap and die is worse then nothing at all.

Buy them one at a time when you need them.

[sreeb]

When we bought the house we are living in now, we got a home inspection and a warranty.

The home inspector said the dishwasher was “serviceable.”

Six months later the dishwasher rusted through.

The warranty company sent their rep out and he said it was a “preexisting condition” so the warranty company refused to pay.

It was the same guy.

We also had a problem with the door on the oven which was unrepairable since parts were not available and they refused to pay for that either.

My wife did the paper work and served them for small claims court. They offered half the price of new appliances which we took before actually going to court.

We actually did benefit from the insurance but only because we lost two major appliances in a year. If it had only been one we would have been break even with a big hassle getting them to pay. I probably wouldn’t buy the insurance again.

[sreeb]

It is hard to beat a Hyundai for value and warranty these days.

The new Nissan Altima is getting really good press so they may need to really discount any old ones.

My wife was able to bargain down the GMC dealer far below the Costco deal.

[sreeb]

Calpers just reported that they made 1.0% last year.

http://www.calpers.ca.gov/index.jsp?bc=/about/press/pr-2012/july/preliminary-returns.xml

But no problem:

“It’s important to remember that CalPERS is a long-term investor and one year of performance should not be interpreted as a signal about our ability to achieve our investment goals over the long-term,” said Henry Jones, Chair of CalPERS Investment Committee.

[quote=davelj][quote=equalizer]
Calpers cut assumed annual return rate to 7.5% instead of 7.25% recommended by state chief actuary. As long as SB pension is in line with range, Judge can’t rule it legally unconscionable. Of course the rate should probably be 7% because the only people who have worse investment track record than me are pension fund managers who are peddled junk by Wall Street.
[/quote]

A lot of work has been done on assumed forward rates of return given certain asset mixes, and most folks who don’t have an agenda – that is, they’re not consultants being paid by the municipality to justify a higher rate, or politicians who support a higher rate (to reduce the amount of funds necessary to plow back into the pension) – come out at 5%-6% as a reasonable assumption given current interest rates and asset valuations. Personally, I think 6.5% is aggressive but supportable; anything above that and you’re venturing into Fantasyland. I believe that SD City pension fund uses 8% and the County uses 8.25% (I could be off by 25 bps on these).

A Stanford study (which I had a few small issues with) came out late last year suggesting the use of 5.5%. SDCERA issued a response to that study (and justifying their ~8% assumption) that would have earned an F in Finance 101.

The trustees and administrators are well aware that their assumptions are too aggressive but to publicly acknowledge reality is just too painful so they’ll try to bleed the rate down over time and continue to kick the can down the road until someone comes along and says “enough.”[/quote]

[sreeb]

[quote=bearishgurl]
sreeb, I am aware that permits (for “inside” projects) should be drawn for rewiring; installing new elec panel/svc; removing, moving, repairing or replacing load-bearing walls and adding square footage. Since my experience has been primarily DIY, I was not aware that permits need to drawn for those other things, never did so for any of those projects and successfully sold the properties years ago. I’m quite certain I’m not alone.

I tried the phone number you posted here and it appears to be inoperable. Which jurisdiction are you referring to here that requires permits for all these (inside) projects?[/quote]

Half the stuff people buy at Home Depot “requires” a permit to use.

99% of the shoppers don’t get one. If they tried to really enforce these laws, the laws would change after the next election.

As things stand, all is well unless a you somehow draw the attention of an inspector in which case most of us would be screwed.

The quote and phone number came off the San Diego city website.

[sreeb]

[quote=bearishgurl]
UCGal, correct me if I’m wrong, but no permits will be required if all your remodeling is within the confines of the house. [/quote]

You are kidding right?

==================================================
When do I need a construction permit?
A construction permit is needed for all new construction. In many cases, a permit is needed for repair or replacement of existing fixtures, such as replacing windows. A plumbing, electrical or mechanical permit maybe needed for any addition or changes to a building’s existing system; for example, moving or adding an electrical outlet requires a permit.

To find out if your project needs a permit, call (619) 446-5000.

When don’t I need a permit?
A construction permit is not needed for items such as wallpapering, painting or similar finish work; fences six feet high or lower; platforms, decks and walks 30 inches high or less over grade or not over basement; and in several other cases. However, reviews may be required from other agencies; be sure to check before building.

For plumbing, mechanical and electrical work, replacement or repair of fixtures (such as changing water faucets or replacing switches) does not normally require a permit. Replacing a water heater or adding a permanently wired light fixture does, however, require a permit.

To determine if your project needs a permit, call (619) 446-5000.

[sreeb]

From what I can tell the public employee advantage in health care for early retires largely goes away in 2014 when Obamacare kicks in.

Given that you transition to living off your savings, it shouldn’t be too difficult to keep your earnings in the mostly subsidized range.

[sreeb]

Assuming you have a 30 yr fixed, I wouldn’t pay it off early. There is a significant possibility that the dollars you eventually use won’t be worth much.

So the car.

[sreeb]

[quote=harvey]T
What that means is that if you had a 401K you’d have to accumulate that much in your 22 years of service in order to withdrawal $30K a year for life after retirement. Of course you could not live as long or live longer but age 70 is a pretty typical life expectancy for a 40 year-old today.
[/quote]

This works if you can accurately predict your lifespan to be below median.

You need much more in a 401K since life at 71 is going suck otherwise.

I’m planning for a worst case lifespan of 100. With Bernanke at the helm, I figure I can safely assume a 1% return after inflation. I should be able to get an inflation adjusted $30K/year from about $3M in a 401K.

[sreeb]

Apparently the 911 dispatcher asked Zimmerman the race of Martin. NBC edited the request out from the transcript so it looked like Zimmerman just offered up Martin’s race.

[sreeb]

[quote=sdrealtor]Here’s my question. Sure the assembled it really quickly. How long did it take to build everything that that needed to assemble, how long did it take to transport all that, how much did it cost to transport it etc. I have no idea but I imagine all the pieces didnt magically appear on site and ready to assemble.[/quote]

All issues but there are huge advantages to building the assemblies in a enclosed factory where you can use more automation.

[sreeb]

[quote=AN]
Again, why does it matter if QCOM is the biggest player in Sorrento Valley? It’s not surprising and they’re only going to get bigger as the smartphone market get bigger. Now that ARM is moving into tablets and Windows 8 supporting ARM, that’s a who new untapped market for QCOM. They’ve been around for 30 years. I can easily see them being around for at least another 10 if not 20 years.
[/quote]

So can I. But I can also seeing them not doing so well or just having a significant cut back on their way to a bright future.

[quote=AN]
A job center is a job center. If QCOM goes away, do you think all these office building will sit empty? [/quote]

There is plenty of empty buildings today. There are lots more buildings with nearly empty parking lots. I’m not witnessing a stampede of companies moving in.

[quote=AN]
If it does go away, it will go away slowly. In that transitioning time, there will be some other company that will replace it.
[/quote]

Perhaps or perhaps not. How did you expect Nokia was going to take?

[quote=AN]
As an engineer, you’ll adapt to whatever industry that’s thriving right now. 5-6 years ago, there’s no such thing as iOS development or Android development. I’m sure 10 years from now, it’ll be something else all together. But one thing is for sure, San Diego have zoned Sorrento Valley and UTC for offices and business building. It will only get more dense as San Diego grow and more jobs move into town.
[/quote]

I don’t see new businesses popping up like mushrooms these days. I remember when they did. Hopefully they will again.

While I expect good engineers will always be in demand, it may be optimistic to expect that demand to always show up at your doorstep.

[quote=AN]
Yes, buying is a long term commitment. But I don’t see how prognosticating that QCOM will go away some day will mean you should rent vs buy. I’ve worked at 5 different companies so far and they all are in Sorrento Valley, Carmel Valley, and Scripps Ranch. So even without QCOM, there will be others to take its place.[/quote]

If you think it is a good idea to get a job at Qualcomm, buy their stock, hold onto all your stock options, and buy real estate whose value is mostly dependent on demand from other Qualcomm employees, go for it. It will probably work out fine. But if it goes bad, it will be very very bad.

[sreeb]

[quote=AN]so, you advise people to rent based on that statement? Qcom have been around for almost 30 years. San Diego want to make Sorrento Valley and UTC to be one of their main employment area. Even if qcom doesn’t last forever, Sorrento Valley and UTC will be employment center for many years to come.[/quote]

I am acutely aware of the job market for the types of people Qcom employs.

Can you name the 2nd, 3rd, 4th, and 5th employers of telcom engineers in the Sorrento Valley area? How many do they collectively employ compared to Qcom? How much of their business is dependant on Qcom?

Drive around Sorrento Valley. Most of the buildings have a sign saying “Qualcomm”. Most of the rest have a sign saying “Available”.

Once upon a time there was a large population of Linkabit spin offs, startups, and companies opening design centers. That is all history now.

I only suggest that there is merit in a little diversification no matter how stable your employer looks today. Buying a house is a long term commitment. Longer than anyones Qcom forecast.

[sreeb]

[quote=AN][quote=sreeb][quote=sdrealtor]Pardee has owned Carmel Valley and the other side of that canyon in SOrrento Mesa for a long time. I just drove by the area today showing a house in MM to a client. When I saw that location all I could think was Qualcomm/Telecom engineers wanting to buy new houses close to work. Those houses and condos are going to fly off the shelves.[/quote]

Qualcomm engineers are the last ones who should be buying in Mira Mesa or Carmal Valley. The big Q looks good now but if they start to cut back, there is nobody else to employ these guys in SD. You could lose your job and have your house crater on the same day. Those Qualcomm engineers who want to live close should rent.[/quote]
When do you see them cutting back?[/quote]

I have no special thoughts on when. Nothing is forever in tech though.

[sreeb]

[quote=sdrealtor]Pardee has owned Carmel Valley and the other side of that canyon in SOrrento Mesa for a long time. I just drove by the area today showing a house in MM to a client. When I saw that location all I could think was Qualcomm/Telecom engineers wanting to buy new houses close to work. Those houses and condos are going to fly off the shelves.[/quote]

Qualcomm engineers are the last ones who should be buying in Mira Mesa or Carmal Valley. The big Q looks good now but if they start to cut back, there is nobody else to employ these guys in SD. You could lose your job and have your house crater on the same day. Those Qualcomm engineers who want to live close should rent.

[Author]

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