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ucodegen
ParticipantI track my finances through online banking just about every night. And sometimes I am surprised when I see a lower balance than expected – then I talk to my wife and find out that she had to use the debit card on XYZ expense.
I still think it is a bit made up.
1) He is writes for finance publications.
2) The overdraft was repetitive… not just once.I bet that if you get hit with an overdraft.. you will make changes to make sure it doesn’t repeat. It almost looks like he didn’t look at the balance for a while and then whoops!!
Management and union salaries are too high. And who let all of this happen? The board of directors. And who votes for the board of directors? The shareholders. Ultimately, the auto companies are a great example of shareholders allowing the board, management and employees to unwittingly work together in destroying their enterprise.
Yes and no.. remember that shareholder votes are not binding – a dirty ugly secret that is not openly discussed. Effectively, the owners of the company, the common shareholders, can’t make binding decisions on the directors/CEO.
Average “lazy” worker productivity has constantly increased over the years
In part due to increased capital expenditures for equipment (better, newer mills, presses etc). Someone bought the equipment.. and expects a return on their investment.
NOTE: I am not disagreeing with the point that CEO pay is ridiculous. CEOs also don’t have any real investment in what they run. To get the pay they do, it should be based upon returns from stock they purchased in the company they are running. This way the pay is tied to the health of the company. NOTE: You would also need a mandatory hold period on this stock to prevent shifting income forward-backwards per quarter or year.ParticipantI track my finances through online banking just about every night. And sometimes I am surprised when I see a lower balance than expected – then I talk to my wife and find out that she had to use the debit card on XYZ expense.
I still think it is a bit made up.
1) He is writes for finance publications.
2) The overdraft was repetitive… not just once.I bet that if you get hit with an overdraft.. you will make changes to make sure it doesn’t repeat. It almost looks like he didn’t look at the balance for a while and then whoops!!
Management and union salaries are too high. And who let all of this happen? The board of directors. And who votes for the board of directors? The shareholders. Ultimately, the auto companies are a great example of shareholders allowing the board, management and employees to unwittingly work together in destroying their enterprise.
Yes and no.. remember that shareholder votes are not binding – a dirty ugly secret that is not openly discussed. Effectively, the owners of the company, the common shareholders, can’t make binding decisions on the directors/CEO.
Average “lazy” worker productivity has constantly increased over the years
In part due to increased capital expenditures for equipment (better, newer mills, presses etc). Someone bought the equipment.. and expects a return on their investment.
NOTE: I am not disagreeing with the point that CEO pay is ridiculous. CEOs also don’t have any real investment in what they run. To get the pay they do, it should be based upon returns from stock they purchased in the company they are running. This way the pay is tied to the health of the company. NOTE: You would also need a mandatory hold period on this stock to prevent shifting income forward-backwards per quarter or year.ParticipantI read the article further…
The only problem was money. Having separated from my wife of 21 years, who had physical custody of our sons, I was handing over $4,000 a month in alimony and child-support payments.
Holy crap. $120k/yr is $10k a month and almost half of it was going to alimony and child-support. Does his ex-wife even work? Want to work?
I am not condoning is purchase of a house.. he should have realized, particularly with his background, that the tax deduction on interest will not give him very much particularly considering that he is already getting tax deductions on the alimony he is paying. In addition, his SocSec/Medicare taxes will still be taken out weighted relative to his income of 120k.
“Don’t worry,” Bob reassured me, saying what almost everybody else in real estate was saying at that moment. “The value of your house will be higher in five years. You’ll be able to refinance.”
Several people fell for this red herring.. even some people that I know. Refinance to what? A greater debt load than you already have.. and that you are already having problems with?
I had a bad feeling about what the A.T.M. would reveal about my balance, but I was shocked when I looked at the receipt: $196. We were broke.
..
“How the hell could we have run through so much money so quickly?” I asked her accusingly.Umm.. he is in finance and he doesn’t even track his own expenses, cash burn rate?? He waits for the ATM slip to tell him his balance?
She thought it wasn’t worth agonizing over nickels and dimes. I was almost exactly the opposite. My answer to any money squeeze was to stop spending. I would skip lunch at work to save $7. If I arrived at the Metro just before the end of rush hour, I would wait for five minutes to save 50 cents on the fare.
.. and he waited for the ATM to tell him what his balance would look like??? Something is not quite right with his statements.. or this story. I am not going to keep putting excerpts from this point on in the article.. but if you read it, you might start wondering if this article is true. Not tracking your balance and running against the overdraft protection for a person who works in finance? Who warned about what was going on with Greenspan/Bernanke? .. I think some literary license was taken.
ParticipantI read the article further…
The only problem was money. Having separated from my wife of 21 years, who had physical custody of our sons, I was handing over $4,000 a month in alimony and child-support payments.
Holy crap. $120k/yr is $10k a month and almost half of it was going to alimony and child-support. Does his ex-wife even work? Want to work?
I am not condoning is purchase of a house.. he should have realized, particularly with his background, that the tax deduction on interest will not give him very much particularly considering that he is already getting tax deductions on the alimony he is paying. In addition, his SocSec/Medicare taxes will still be taken out weighted relative to his income of 120k.
“Don’t worry,” Bob reassured me, saying what almost everybody else in real estate was saying at that moment. “The value of your house will be higher in five years. You’ll be able to refinance.”
Several people fell for this red herring.. even some people that I know. Refinance to what? A greater debt load than you already have.. and that you are already having problems with?
I had a bad feeling about what the A.T.M. would reveal about my balance, but I was shocked when I looked at the receipt: $196. We were broke.
..
“How the hell could we have run through so much money so quickly?” I asked her accusingly.Umm.. he is in finance and he doesn’t even track his own expenses, cash burn rate?? He waits for the ATM slip to tell him his balance?
She thought it wasn’t worth agonizing over nickels and dimes. I was almost exactly the opposite. My answer to any money squeeze was to stop spending. I would skip lunch at work to save $7. If I arrived at the Metro just before the end of rush hour, I would wait for five minutes to save 50 cents on the fare.
.. and he waited for the ATM to tell him what his balance would look like??? Something is not quite right with his statements.. or this story. I am not going to keep putting excerpts from this point on in the article.. but if you read it, you might start wondering if this article is true. Not tracking your balance and running against the overdraft protection for a person who works in finance? Who warned about what was going on with Greenspan/Bernanke? .. I think some literary license was taken.
ParticipantI read the article further…
The only problem was money. Having separated from my wife of 21 years, who had physical custody of our sons, I was handing over $4,000 a month in alimony and child-support payments.
Holy crap. $120k/yr is $10k a month and almost half of it was going to alimony and child-support. Does his ex-wife even work? Want to work?
I am not condoning is purchase of a house.. he should have realized, particularly with his background, that the tax deduction on interest will not give him very much particularly considering that he is already getting tax deductions on the alimony he is paying. In addition, his SocSec/Medicare taxes will still be taken out weighted relative to his income of 120k.
“Don’t worry,” Bob reassured me, saying what almost everybody else in real estate was saying at that moment. “The value of your house will be higher in five years. You’ll be able to refinance.”
Several people fell for this red herring.. even some people that I know. Refinance to what? A greater debt load than you already have.. and that you are already having problems with?
I had a bad feeling about what the A.T.M. would reveal about my balance, but I was shocked when I looked at the receipt: $196. We were broke.
..
“How the hell could we have run through so much money so quickly?” I asked her accusingly.Umm.. he is in finance and he doesn’t even track his own expenses, cash burn rate?? He waits for the ATM slip to tell him his balance?
She thought it wasn’t worth agonizing over nickels and dimes. I was almost exactly the opposite. My answer to any money squeeze was to stop spending. I would skip lunch at work to save $7. If I arrived at the Metro just before the end of rush hour, I would wait for five minutes to save 50 cents on the fare.
.. and he waited for the ATM to tell him what his balance would look like??? Something is not quite right with his statements.. or this story. I am not going to keep putting excerpts from this point on in the article.. but if you read it, you might start wondering if this article is true. Not tracking your balance and running against the overdraft protection for a person who works in finance? Who warned about what was going on with Greenspan/Bernanke? .. I think some literary license was taken.
ParticipantI read the article further…
The only problem was money. Having separated from my wife of 21 years, who had physical custody of our sons, I was handing over $4,000 a month in alimony and child-support payments.
Holy crap. $120k/yr is $10k a month and almost half of it was going to alimony and child-support. Does his ex-wife even work? Want to work?
I am not condoning is purchase of a house.. he should have realized, particularly with his background, that the tax deduction on interest will not give him very much particularly considering that he is already getting tax deductions on the alimony he is paying. In addition, his SocSec/Medicare taxes will still be taken out weighted relative to his income of 120k.
“Don’t worry,” Bob reassured me, saying what almost everybody else in real estate was saying at that moment. “The value of your house will be higher in five years. You’ll be able to refinance.”
Several people fell for this red herring.. even some people that I know. Refinance to what? A greater debt load than you already have.. and that you are already having problems with?
I had a bad feeling about what the A.T.M. would reveal about my balance, but I was shocked when I looked at the receipt: $196. We were broke.
..
“How the hell could we have run through so much money so quickly?” I asked her accusingly.Umm.. he is in finance and he doesn’t even track his own expenses, cash burn rate?? He waits for the ATM slip to tell him his balance?
She thought it wasn’t worth agonizing over nickels and dimes. I was almost exactly the opposite. My answer to any money squeeze was to stop spending. I would skip lunch at work to save $7. If I arrived at the Metro just before the end of rush hour, I would wait for five minutes to save 50 cents on the fare.
.. and he waited for the ATM to tell him what his balance would look like??? Something is not quite right with his statements.. or this story. I am not going to keep putting excerpts from this point on in the article.. but if you read it, you might start wondering if this article is true. Not tracking your balance and running against the overdraft protection for a person who works in finance? Who warned about what was going on with Greenspan/Bernanke? .. I think some literary license was taken.
ParticipantI read the article further…
The only problem was money. Having separated from my wife of 21 years, who had physical custody of our sons, I was handing over $4,000 a month in alimony and child-support payments.
Holy crap. $120k/yr is $10k a month and almost half of it was going to alimony and child-support. Does his ex-wife even work? Want to work?
I am not condoning is purchase of a house.. he should have realized, particularly with his background, that the tax deduction on interest will not give him very much particularly considering that he is already getting tax deductions on the alimony he is paying. In addition, his SocSec/Medicare taxes will still be taken out weighted relative to his income of 120k.
“Don’t worry,” Bob reassured me, saying what almost everybody else in real estate was saying at that moment. “The value of your house will be higher in five years. You’ll be able to refinance.”
Several people fell for this red herring.. even some people that I know. Refinance to what? A greater debt load than you already have.. and that you are already having problems with?
I had a bad feeling about what the A.T.M. would reveal about my balance, but I was shocked when I looked at the receipt: $196. We were broke.
..
“How the hell could we have run through so much money so quickly?” I asked her accusingly.Umm.. he is in finance and he doesn’t even track his own expenses, cash burn rate?? He waits for the ATM slip to tell him his balance?
She thought it wasn’t worth agonizing over nickels and dimes. I was almost exactly the opposite. My answer to any money squeeze was to stop spending. I would skip lunch at work to save $7. If I arrived at the Metro just before the end of rush hour, I would wait for five minutes to save 50 cents on the fare.
.. and he waited for the ATM to tell him what his balance would look like??? Something is not quite right with his statements.. or this story. I am not going to keep putting excerpts from this point on in the article.. but if you read it, you might start wondering if this article is true. Not tracking your balance and running against the overdraft protection for a person who works in finance? Who warned about what was going on with Greenspan/Bernanke? .. I think some literary license was taken.
ParticipantFor example, he said that he knew nothing about the Merill losses and bonuses…However as part of an acquisition, you’d think they’d be doing their due dilligence.
You have to remember that the acquisition is done in two steps. The intent to acquire was announced. What was not announced and was alluded to by Ken Miller, was that BofA wanted to back out the acquisition in terms of materiel grounds. This means that there was a large discrepancy of how Merrill was portraying itself and what BofA discovered when they ran the audit as a result of intent to acquire. I remember hearing the intent to back out.. and the next day I heard it was going through.. kind of strange (I think it was Nov/Dec 08 time frame). Shortly after I heard that there may be an additional 20Bil from the gov. for the merger. Really weird.
I think that the gov. can’t let BofA fail now because their fingerprints would be found all over the ‘murder weapon’..
ParticipantFor example, he said that he knew nothing about the Merill losses and bonuses…However as part of an acquisition, you’d think they’d be doing their due dilligence.
You have to remember that the acquisition is done in two steps. The intent to acquire was announced. What was not announced and was alluded to by Ken Miller, was that BofA wanted to back out the acquisition in terms of materiel grounds. This means that there was a large discrepancy of how Merrill was portraying itself and what BofA discovered when they ran the audit as a result of intent to acquire. I remember hearing the intent to back out.. and the next day I heard it was going through.. kind of strange (I think it was Nov/Dec 08 time frame). Shortly after I heard that there may be an additional 20Bil from the gov. for the merger. Really weird.
I think that the gov. can’t let BofA fail now because their fingerprints would be found all over the ‘murder weapon’..
ParticipantFor example, he said that he knew nothing about the Merill losses and bonuses…However as part of an acquisition, you’d think they’d be doing their due dilligence.
You have to remember that the acquisition is done in two steps. The intent to acquire was announced. What was not announced and was alluded to by Ken Miller, was that BofA wanted to back out the acquisition in terms of materiel grounds. This means that there was a large discrepancy of how Merrill was portraying itself and what BofA discovered when they ran the audit as a result of intent to acquire. I remember hearing the intent to back out.. and the next day I heard it was going through.. kind of strange (I think it was Nov/Dec 08 time frame). Shortly after I heard that there may be an additional 20Bil from the gov. for the merger. Really weird.
I think that the gov. can’t let BofA fail now because their fingerprints would be found all over the ‘murder weapon’..
ParticipantFor example, he said that he knew nothing about the Merill losses and bonuses…However as part of an acquisition, you’d think they’d be doing their due dilligence.
You have to remember that the acquisition is done in two steps. The intent to acquire was announced. What was not announced and was alluded to by Ken Miller, was that BofA wanted to back out the acquisition in terms of materiel grounds. This means that there was a large discrepancy of how Merrill was portraying itself and what BofA discovered when they ran the audit as a result of intent to acquire. I remember hearing the intent to back out.. and the next day I heard it was going through.. kind of strange (I think it was Nov/Dec 08 time frame). Shortly after I heard that there may be an additional 20Bil from the gov. for the merger. Really weird.
I think that the gov. can’t let BofA fail now because their fingerprints would be found all over the ‘murder weapon’..
ParticipantFor example, he said that he knew nothing about the Merill losses and bonuses…However as part of an acquisition, you’d think they’d be doing their due dilligence.
You have to remember that the acquisition is done in two steps. The intent to acquire was announced. What was not announced and was alluded to by Ken Miller, was that BofA wanted to back out the acquisition in terms of materiel grounds. This means that there was a large discrepancy of how Merrill was portraying itself and what BofA discovered when they ran the audit as a result of intent to acquire. I remember hearing the intent to back out.. and the next day I heard it was going through.. kind of strange (I think it was Nov/Dec 08 time frame). Shortly after I heard that there may be an additional 20Bil from the gov. for the merger. Really weird.
I think that the gov. can’t let BofA fail now because their fingerprints would be found all over the ‘murder weapon’..
May 8, 2009 at 12:26 PM in reply to: OT: anyone know of a good local electronics repair shop or someone good at soldering #395152ParticipantYes, tin the wire first.
The problem with applying heat to the opposite side of the wire that the solder is on, is heat transfer. You will have a very tiny point contact between the iron and the wire to heat the wire. The result is a lot of heat travels up the wire, damaging insulation etc upwire before the joint location ever gets hot enough.
I found the most effect way is to make sure the contact is clean and rosin fluxed and use a solder ball on the end of the iron (make sure the iron tip is clean too and maintain the tip in a ‘tinned’ state. The ball ensures maximum heat transfer when it makes contact with the wire. This allows you to ramp the temp of the joint up rapidly and complete the job before the heat travels up the wires and does damage further up. Also use a good iron like Metcal if you have one.
On that ribbon cable, your biggest problem is not going to be soldering the new on on.. it will be removing the old. This is generally done with a very specialized hot air gun (don’t try it with your run of the mill hot air gun).
Have we really gotten to the point of a disposable society in which you chuck out your electronics after 1 year or use or less because the cost of labor is too high to repair?
Yes.. need you ask. These days, if a seal on a rack and pinion steering rack goes bad, you replace the whole rack. If a distributor gear gets a little worn, you replace the entire distributor (newest cars don’t have distributors though)
Some older timers who use to build Heathkit TV’s, Ham Radio’s etc could solder it for you.
Nope.. don’t. The joints are much finer than these people have ever done. You want one of the assemblers that works currently at companies like Sony, Qualcomm, Cubic. They work with surface mount, the problem is that they don’t own their own tools and the tools are specialized.
May 8, 2009 at 12:26 PM in reply to: OT: anyone know of a good local electronics repair shop or someone good at soldering #395404ParticipantYes, tin the wire first.
The problem with applying heat to the opposite side of the wire that the solder is on, is heat transfer. You will have a very tiny point contact between the iron and the wire to heat the wire. The result is a lot of heat travels up the wire, damaging insulation etc upwire before the joint location ever gets hot enough.
I found the most effect way is to make sure the contact is clean and rosin fluxed and use a solder ball on the end of the iron (make sure the iron tip is clean too and maintain the tip in a ‘tinned’ state. The ball ensures maximum heat transfer when it makes contact with the wire. This allows you to ramp the temp of the joint up rapidly and complete the job before the heat travels up the wires and does damage further up. Also use a good iron like Metcal if you have one.
On that ribbon cable, your biggest problem is not going to be soldering the new on on.. it will be removing the old. This is generally done with a very specialized hot air gun (don’t try it with your run of the mill hot air gun).
Have we really gotten to the point of a disposable society in which you chuck out your electronics after 1 year or use or less because the cost of labor is too high to repair?
Yes.. need you ask. These days, if a seal on a rack and pinion steering rack goes bad, you replace the whole rack. If a distributor gear gets a little worn, you replace the entire distributor (newest cars don’t have distributors though)
Some older timers who use to build Heathkit TV’s, Ham Radio’s etc could solder it for you.
Nope.. don’t. The joints are much finer than these people have ever done. You want one of the assemblers that works currently at companies like Sony, Qualcomm, Cubic. They work with surface mount, the problem is that they don’t own their own tools and the tools are specialized.
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