From Bloomberg:
The Housing Market Is Hot, So Re/Max Is Going Public
There’s money to be made in real estate again, and one of the big names in the industry is eager to catch the boat. Re/Max Holdings, the franchiser of real-estate brokerages, filed papers today to go public, hoping to turn the rebound in the U.S. real estate market into a successful payday as a publicly traded company.
If it’s completed, Re/Max’s public offering would become at least the third big IPO in the sector in the past year. To review: Realogy Holdings (RLGY)—parent of Century 21 and Coldwell Banker—went public in October, raising more than $1 billion. The stock has gained 58 percent. Trulia (TRLA) went public the same month and raised more than $100 million. Its shares are up 172 percent this year. Shares of establishment player Zillow (Z) (IPO: July 2011) are up 214 percent this year.
Re/Max: Us too, please.
From the NYT/Dealbook:
To Cover New York, Zillow Buys a Rival Site
It is the parlor game that has long been played in Manhattan’s upper social circles: guessing how much so-and-so paid for their apartment, and how nice it is.
That information, once closely guarded by real estate brokers, has become much easier to find in recent years, thanks largely to StreetEasy.
On Monday, the seven-year-old start-up is expected to announce that it has sold itself to Zillow, the giant of online real estate information, for $50 million in cash.
Though tiny, the acquisition will give Zillow a huge lead in one of the nation’s most desirable markets as it battles rivals like Trulia and Redfin amid a resurgence in real estate sales.
Both Zillow and Trulia have turned to acquisitions to help gain an edge. Trulia paid about $310 million in cash and stock this spring to buy another rival, Market Leader, in one of the biggest deals by far in the industry.
…
“New York is the biggest real estate market in the country,” Mr. Rascoff said. Calling himself jealous of his smaller rival’s success, he added, “It’s just a much better product in New York.”StreetEasy’s strength led Zillow to hold more than three years of talks with its smaller rival.
NJ public sector response to Obamacare is staggering. Folks were furious about fast food restaurants and big box stores cutting hours to exempt, how about schools and townships doing exactly the same? No wonder there are so many part time jobs now, when part time means <30, where prior it was <40. Would assume that the total number of part-time jobs in the US might expand as much as 25% based on hours reductions to skirt the law.
From the Star Ledger:
Hamilton school district substitute teachers limited to 4 day work week because of health care reform
A group of substitute teachers in Mercer County have been told that national health care reform may take a large bite out of their earnings potential.
The Hamilton school district has told its substitute teachers they will be limited to working a maximum of four days a week in the coming school year because of the federal health reform law’s future requirement that full-time employees be provided with health insurance.
…
“This memorandum will serve as official notice that, as of the 2013-2014 school year, strict limits will be placed on the number of working hours of part-time/temporary employees,” read the letter signed by director of human resources Katherine Shilenok-Wright.
From the APP:
Middletown reduces workers hours to avoid Obamacare
The township shaved back hours for some part-time workers to avoid providing insurance required under the federal health care reform law, the Asbury Park Press has learned.
The change impacts about 25 part-time employees. But that could translate to a $775,000 annual increase in the township’s health insurance costs, based on the current benefits in place now, which are about $31,000 per employee.
Starting May 1, Middletown adjusted hours for part-time employees to make sure they work, on average, less than 30 hours per week, the threshold that the Affordable Care Act considers a full-time employee.
Two part time jobs is the new part time?
From HuffPo:
Forever 21 Slashes Worker Hours And Health Benefits, Denies Obamacare Is To Blame
A leaked memo from Forever 21 shows the fast-fashion apparel retailer plans to cut the hours of some full-time employees and reclassify them as part-time, starting Sunday.
“Company-wide, Forever 21 recently audited its staffing levels, staffing needs and payroll in conduction with reviewing its overall spending budget,” Carla Macias, associate director of human resources at the company, wrote in the memo to affected employees. “As a result, we are reducing a number of full-time non-management positions.”
Although it’s unclear exactly how many of the 30,000 or so Forever 21 employees will move to part-time, the company said in a statement on Facebook that the cuts affect “less than 1% of of all U.S. store employees.” The affected positions include stock associates, sales associates, store maintenance associates, accessory specialists and cashiers, the memo states.
Employees who received the memo will have their hours reduced to a maximum of 29.5 a week — just under the 30-hour full-time designation assigned by the Affordable Care Act, which requires companies who employ 50 or more workers to provide health insurance coverage for their full-time employees or face a penalty.
Newly part-time workers who were enrolled in medical, dental, vision and voluntary plans will also see their coverage cut off on Aug. 31, and they won’t be able to receive paid time off.
Interesting comment on one of those threads – If increased insurance rates for part timers is not included as part of the 2% property tax exemption, it’s highly likely that many more NJ towns will be forced to cut PT hours to keep budgets in line.
My vote for the most interesting story of the week, from the Atlantic:
North Korea Has a Serious Crystal Meth Problem
Grim, I found this quote interesting. Will have to look for the study.
” …In a paper published last month, the San Francisco Federal Reserve Bank said uncertainty over fiscal and regulatory policy had left the U.S. unemployment rate 1.3 percentage points higher at the end of last year than it otherwise would have been. The jobless rate stood at 7.8 percent in December; it has since fallen to 7.4 percent.
“That’s about 2 million jobs below where we should have been in 2012 because of policy uncertainty,” said Keith Hall, a senior research fellow at George Mason University’s Mercatus Center in Arlington, Va. . . . ”
http://www.cnbc.com/id/100977130
Even before Obamacare was implemented, healthcare costs were a big concern to municipalities. I am aware of one NY county I cannot name (because I represented them) that actively tried to limit spousal enrollment and certain employees who figured out how to game the system. With Obamacare, they will be looking hard at any new options the law gives them.
The Hamilton school district has told its substitute teachers they will be limited to working a maximum of four days a week in the coming school year because of the federal health reform law’s future requirement that full-time employees be provided with health insurance.
Yes We Can!
Wondering how ACA plays with Spousal Carve Out – most especially – will spousal carve out be expanded to include ACA as an option? Unfortunately, I have a feeling this will be the case.
For those that don’t follow, what I’m saying is that your job won’t allow you to ensure your non-employed spouse. “Family plan” goes bye bye. Instead, your spouse will need to either get a job, or go to the exchanges.
@ProPublica: America has around 5% of world’s population, and 25% of its prisoners. Incarceration by the #s via @economist http://t.co/7xj9vh0oYi
Yeah, turns out I’m not so crazy. Even worse than I thought.
Employers Dropping Spousal Coverage to Avoid ObamaCare Fees
Beginning this year, ObamaCare only makes spousal coverage even more expensive for employers. The law mandates that companies pay a fee of $1 or $2 for every individual they cover in 2013. Next year the fee shoots up to a whopping $65 per covered person. Employers would be crazy not to try to shed covered persons any way they can, and spouses — especially those who can obtain coverage through their own employers — are a prime target.
“But experts say more firms are likely to drop spouses altogether, whether they work or not — especially when the new federal health-care exchanges open in 2014, providing an alternative for spouses left out in the cold,” Wieczner observes. “‘When there’s a place for people to go, employers won’t feel as beholden or compelled to cover the spouse,’ says Joan Smyth, an employee benefits consultant with Mercer.”
In other words, ObamaCare not only makes spousal coverage considerably less affordable but also makes the decision to drop it vastly easier — for employers.
[10] grim,
This one externality of Obamacare is the one that will have all those spouses with Obama stickers on their cars looking for the putty knife.
11 –
I don’t think so Nom. I was reading an article on the subject on motherjones. Comments from people who might potentially be adversely affected by this still somehow are directed at the GOP.
Don’t underestimate how batsh1t crazy people are.
Nom you from Mass you know better than that. Obama could light their spouses on fire and pee on them to extinguish the flames and the Team Blue folks would say how courageous he was to extinguish the fire with his own excrement.
honestly where is the anti war and civil liberties left? The annointed one can do no wrong cause then that would make them racists like the rest of us who question dear leader.
http://www.motherjones.com/mojo/2013/05/obamacare-healthcare-coverage-spouses
clemans 3 months ago in reply to TruthLiesInLogic
if I end up without health care I am going to place the blame where it belongs, at the feet of the GOP, NOT blame the other people, who are just as human as the next person. I am NOT better than the 50 million who haven’t had health care, but I am also not less valuable than the GOP leadership or the 1 % for that matters.
So, I am not going to fall victim to some attempts to dump the blame on the 30 million or any children who will get health care out of this. No matter how it goes, it will be the fault of the GOP.
Like I said, you ought to start hoping that this plan is wonderful, there are going to be a lot of us who remember, and who remind others that this is all we got because of the games that the GOP played. They could have worked to fix it prior to Clinton, during his time, during bush’s time, and when Obama took over.
A whopping $65 a year!
15 –
Not a bad point….what kind of money are we talking about?
1000 employees
let’s say each has a spouse + 1 dependent……= 3 people.
1000 * 3 * 65 = $195,000/yr
Is that really such a big number for a company of 1000 employees?
Do companies even offer plans where you exclude your spouse?
A whopping $65 a year!
Actually, the savings associated with spousal carve out is probably well into the thousands on an annual basis. The trend towards carve out is now firmly established. What was a relative unknown a few years back is now starting to become widely adopted.
From what I can tell, ACA will further increase adoption. Why?
It’s now thousands + $65. You can pooh pooh this as being peanuts, but if a company is on the margin of making the decision, that amount might put them over.
Secondly, spousal carve out has not “crossed the line” and simply outright prohibited spouses. If you couldn’t get coverage, you were allowed. With insurance widely available on exchanges, there is less restriction towards full carve.
from some exchanges about healthcare in the western world ex. US
@MizzzAlia: My Step father had a Triple bypass surgery in British Columbia, was in hospital for 4 weeks. The Bill was complete Free!
@Petmorr: had kidney surgery in June, 8 days in hospital, had twice weekly visits at home by nurse, next op in 10 days. All free in UK
@Burr_Lover: I had major open heart valve surgery in Vancouver. 10 day hospital stay in ICU and walked out w/ no bill. At 40, I wdve been broke!
@andrewmahoney76: Our daughter got a serious infection at 2 weeks in the NICU. Her care would’ve bankrupted us in the US, I can’t imagine the stress.
Corporations are proving they care more about the bottom line than their employee’s well being? shocking! But libertarians, teatards, and other right wingers keep telling me corporations are our friends. Guess we’ll be one step closer to single payor and taking our nations health care decisions completely out of corporations hands. Awesome! Thanks to Obama for showing the country how bad Republicans health care plans are and how greedy the 1% is.
In just about seven weeks, people will be able to start buying Obamacare-approved insurance plans through the new health care exchanges.
But already, Senate Majority Leader Harry Reid is predicting those plans, and the whole system of distributing them, will eventually be moot.
Reid said he thinks the country has to “work our way past” insurance-based health care during a Friday night appearance on Vegas PBS’ program “Nevada Week in Review.”
“What we’ve done with Obamacare is have a step in the right direction, but we’re far from having something that’s going to work forever,” Reid said.
When then asked by panelist Steve Sebelius whether he meant ultimately the country would have to have a health care system that abandoned insurance as the means of accessing it, Reid said: “Yes, yes. Absolutely, yes.”
http://www.lasvegassun.com/news/2013/aug/10/reid-says-obamacare-just-step-toward-eventual-sing/
we must not burden corporations with $65 per head by not charging the non-taxes with already do not charge
@MMFlint: Forbes reported Exxon paid $0 in US income taxes in 2009. Exxon claims that’s wrong, refuses to prove it http://t.co/B16XPt9uhx
Anon the moronic one ever hear the saying there is no such thing as a free lunch?
Reid says Obamacare just a step toward eventual single-payer system
“The Bill was complete Free” “corporations are our friends”
No wonder Ob@ma got so many votes, some people will believe anything.
I think ya’ll are missing the point.
Spousal carve out started as a response to increasing health care benefit costs.
Here is the scenario – If Company X offers insurance to one employee, the cost of that benefit is, for example, $5,000.
Adding the spouse, while it increases the premium somewhat, also increases the amount of money the company needs to pay out for coverage, say, for example, that moves to $10,000.
Now, imagine a scenario where the spouse is also employed, and eligible for benefits. In that case, the spouse’s employer, Company Y, pays nothing in additional benefit costs, since the employee is not using the benefit.
So who should pay for insuring the employee and spouse? Company X or Company Y?
The outcome was simple, both, if you are employed and eligible, get your coverage from your employer.
The new challenge is that ACA opens an additional avenue for companies to carve out. In addition to situations where the spouse might be eligible for coverage from their employer, the spouse can also get coverage from the exchange. So how far will carve out go now?
And yes, this is becoming very commonplace. I can try to find the study which stated it typically costs more for an employer to insure a spouse than it does the primary employee, so carving out the spouse might carry a larger cost savings than would be typically expected.
Nothing is free. All you Utopian “thinkers” can blast the 1% and Bush and whoever else all you want but the bottom line is, you and I are going to be paying for everyone else. You think the “Chosen One” gives a flying f.uck about you? LOL!! Pull that lever, get your pellet.
22- pain-Exactly, no such thing as a free lunch. So who exactly makes up for Exxon paying 0 dollars towards taxes on all that income? Hmm?
Why are paying these insane profits to our health industry? It’s legal extortion. Something needs to be done. We can’t sustain the price increases of this current health care system. How can the same surgery cost 1,600 in Germany and 106,000 in Ohio? How many hands are making an insane profit at the expense of the sick? You guys are defending the industry that is crippling our economy? We are getting totally ripped off by the current health care system and you want it to stay the same?
Single-payer health care is a system in which the government, rather than private insurers, pays for all health care costs.
Where does the government get its money? Any questions?
Why couldn’t we just erase the State borders and make private insurance compete for our business?
18 anon My wife works in a NICU. I’m not aware of anyone going bankrupt for having their kids in the NICU although it’s possible. I’m very aware that they have plenty of patients that will never send a dime to the hospital.
If the govt is having difficulty making employers pay for employee health care can the govt force them to pay it, in the form of a tax in a one payer system?
I work in healthcare. It’s rush, rush, rush all the time now. Behind the scenes it is not a pretty picture. I hope we all get the healthcare we deserve.
I will go farther in opening the border to Doctors willing to get trained and work in the US competing with the high cost doctors in the US.
If they were able to make the middle class compete with the 3rd world why not bring the able 3rd world doctors in the US and compete with the high cost doctors
Why aren’t price lists posted for procedures/surgeries, etc. so that patients can shop around? Make the whole system more transparent.
Reference Based Pricing….
Common sense but after 30 years in the industry..finally…
http://online.wsj.com/article/SB10001424127887323998604578567982013011300.html
As companies seek ways to curb health-care spending, insurer WellPoint Inc. WLP -0.16%is rolling out a program that lets employers pay only a set amount for a medical service, asking workers who select costlier care to pay the difference.
The idea has been tested for years by a limited number of large employers. But the new option from the second-biggest U.S. insurer, which will be available for coverage that kicks off next January, will be offered broadly to any client with at least 100 employees.
Under the approach, workers are supposed to be given choices among hospitals, doctors or other providers to be used for a procedure—such as an imaging scan or even a surgery—each with pricing and quality information. If they pick one that costs more than the employer offers, they pay the difference. If workers opt for a provider that costs less than the employer’s price, an employer could choose to offer them a credit, WellPoint said.
The approach, known as reference-based pricing, is one of the options that companies are using to put more choice and responsibility on the shoulders of workers—ranging from high deductibles to “defined contribution” designs that supply a lump sum for health benefits and let workers pick their own plans in a marketplace.
Benefits consultants said that broader availability of the per-procedure pricing setups, if they work smoothly, may spark more widespread adoption by employers. A survey of large and midsize employers by Aon AON -0.23%Hewitt, a unit of Aon PLC, released earlier this month, found that 8% were using the approach. However, nearly two-thirds were considering the model for the future.
The new approach “encourages a member or employee to shop and become a smarter health-care consumer,” said Ken Goulet, chief executive of WellPoint’s commercial business unit, who said the company has seen “strong interest” from employers.
WellPoint said its program can include more than 900 different services. The vast majority are routine things like lab tests, but the list also includes some more complex procedures like hip and knee replacements and bariatric surgeries.
Consultants said that other insurers are also offering such options, though generally not as broadly as WellPoint will. Aetna Inc. AET -0.22%said it started offering reference-based pricing to self-insured companies with at least 250 workers in most of its markets for plans starting this year, and has a “handful” of big clients signed up. The program covers up to 11 outpatient procedures including imaging scans and colonoscopies.
Cigna Corp. CI -0.56%said it has been piloting the approach with a big client since 2011, but has seen mixed results, and is considering whether to launch more pilots. The Cigna test found that employees ended up paying around $600 on average out of their pockets for imaging scans, signaling that they may not have been shopping around as the program intended. “We do not want to roll out solutions that will be riddled with consumer gotchas,” said Wendy Sherry, vice president for product development at Cigna.
Employers will want to be sure that any reference-based pricing program can be explained clearly to employees, is simple to use, can offer multiple different providers, and provides accurate and complete information about costs and quality, consultants said. Otherwise, “it’ll just be seen as unworkable by the workforce,” said Alexander Domaszewicz, a principal at Mercer, a unit of Marsh & McLennan Cos. MMC -0.76%
WellPoint, which has tested its program with some big clients, said it has seen good results. The insurer recently announced that a version used by the California Public Employees’ Retirement System cut the costs of hip and knee replacements by 19% and found similar or better outcomes at lower-cost hospitals.
WellPoint is working with Castlight Health Inc., which has an online tool that gives pricing and other information about health-care providers. The companies will offer Web and printed materials and a call-in line for employees, and Castlight will send people to employers’ work locations to train workers on how to use the service. WellPoint and Castlight said workers would get quality information about providers drawn from multiple sources.
And why is it,your seeing your primary in network and all other procedures(bloodworks) sent to a out of network,without you knowing it?
Why is it the hospital is in network and the doctors are out of network?
@anon (the good one)
The “draconian” mandatory minimum sentences had a big part to do with it. Having different sentences for crack vs cocaine is about as idiotic as charging someone for DUI differently if they are drunk off a 40oz vs scotch. Granted if its Dalwhinnie, the officer should know you have class but it’s still stupid.
Why aren’t price lists posted for procedures/surgeries, etc. so that patients can shop around? Make the whole system more transparent.
The only store in the world where you buy the product without knowing the price or terms of sale, and there is no ability to negotiate the price or return the product after it’s been delivered, even if the delivered product was ineffective/defective.
34
http://www.surgerycenterok.com/pricing/
37. race, class and money.
private prisons are a business in need of customers
38. Patients have to start demanding the information. The days of dr.’s being some god-like figure should be over with. Question your dr.’s! Be polite but don’t let them rush you until you get your questions and concerns addressed. It absolutely shocks me that patients come in for exams without a list of questions. Protect yourself. Even the most well intentioned medical providers are under a lot of pressure cause it’s all about volume.
If you aren’t sure whether to have a procedure done get a 2nd opinion, if you can afford to.
A lot of the problems with healthcare that are identified by people with various political beliefs are all correct. In a nutshell, some individual or group of individuals bribe the lawmakers to pass legislation beneficial to protecting or cartelizing that industry… and that increases prices, increases their profits, reduces competition, increases the cost of entry into that market and on and on and on.
Why do we then turn to the corrupted & captured govt to fix the problems?
39. Thanks for the link. Guess that’s a start if you live in Oklahoma. I don’t know the answer but I assume that Affordable Healthcare Act does NOT require price listing? No, of course not. What was I thinking?
South Portland doctor stops accepting insurance, posts prices online (prices drop)
http://bangordailynews.com/2013/05/27/news/portland/south-portland-doctor-stops-accepting-insurance-posts-prices-online/
I don’t know who’s fault it is but the whole healthcare system is becoming so f*cked up I can’t bear to look at it anymore.
Corporations are proving they care more about the bottom line than their employee’s well being? shocking! But libertarians, teatards, and other right wingers keep telling me corporations are our friends. Guess we’ll be one step closer to single payor and taking our nations health care decisions completely out of corporations hands. Awesome! Thanks to Obama for showing the country how bad Republicans health care plans are and how greedy the 1% is.
I love it. Obama enacts a health care plan that is severely short sighted and ends up hurting part time workers more than anyone, and that’s the libertarians fault? Anyone with a slight understanding of business could have told you that this would happen, so why do it?
You’re blaming the 1% (not that I’m a fan), and fail to realize, this is every entity. What does the 1% have to do with school districts cutting their substitutes hours to 3 to 4 days a week instead of 5? These are municipal entities, not greedy corporations run by Carl Icahn.
All the problems will be fixed when the whole rube goldberg contraption known as the Amerikan necronomy implodes.
You want healthcare? Go to the goddam gym and quit stuffing your pie hole full of HFCS and mickey d’s.
In the coming world, only the strong will survive.
Try asking what the price of an xray is at a lab and then calling your insurance company from the lobby to find out what your out of pocked costs are. Neither the office or the insurance company’s customer service have any idea and you are a pain in the a$$ for daring to ask.
38.grim says:
August 21, 2013 at 9:46 am
Why aren’t price lists posted for procedures/surgeries, etc. so that patients can shop around? Make the whole system more transparent.
The only store in the world where you buy the product without knowing the price or terms of sale, and there is no ability to negotiate the price or return the product after it’s been delivered, even if the delivered product was ineffective/defective.
Who remembers the post by grim a long time ago saying he had an idea to open up walk-in clinics of some kind (I’ll find the post)… myself, among others, immediateliy said there are several local/state laws (let along federal) that would prevent such a clinic from opening, and if not outright prevent it, would make the cost of opening one unbearable.
How did those laws come into place? I bet it had something to do with lobbying and bribing the govt.
Dan,
your wife is a saint. But you, c’mon. Make an effort.
“Dan in debt says:
August 21, 2013 at 9:28 am
18 anon My wife works in a NICU. I’m not aware of anyone going bankrupt for having their kids in the NICU although it’s possible. ”
Medical Bills Are the Biggest Cause of US Bankruptcies: Study
06/25/13 2:29 PM ET
By: Dan Mangan
“Bankruptcies resulting from unpaid medical bills will affect nearly 2 million people this year—making health care the No. 1 cause of such filings, and outpacing bankruptcies due to credit-card bills or unpaid mortgages, according to new data. And even having health insurance doesn’t buffer consumers against financial hardship.”
I will go farther in opening the border to Doctors willing to get trained and work in the US competing with the high cost doctors in the US.
If they were able to make the middle class compete with the 3rd world why not bring the able 3rd world doctors in the US and compete with the high cost doctors
People like to think the teachers union is the strongest labor cartel in the U.S. The doctors are. That’s why the process of being able to practice medicine in the US is 100% more rigorous for people who attended medical school outside of the country. They don’t want competition.
Joyce [44];
That can’t be a workable system — insufficient opportunity for leftist nanny-staters to skim off the top and impose their will on the plebes.
Looking out the window at a group of 280# human garbage bags whose end-of-life care I’ll be footing.
Back to the grindstone. Be a good sheep, clot.
I needed an x-ray. When I asked the the secretary what it cost, she was flustered. Do you have insurance?, she asked. I said I’m paying cash. She again asked about insurance. I said it doesn’t matter I’m paying cash. She said it does matter, because of course that industry is allowed to bill differently depending on how one pays… meaning they are going rape you a little bit, or a lotta bit.
49.Brian says:
August 21, 2013 at 10:10 am
Try asking what the price of an xray is at a lab and then calling your insurance company from the lobby to find out what your out of pocked costs are. Neither the office or the insurance company’s customer service have any idea and you are a pain in the a$$ for daring to ask.
49. You are right! The whole process is one big frustration. No one wants to have accountability so just keep passing the buck. I don’t handle any of the billing or ins. issues because I work on the the medical side only. I am basically being timed and if the patients want to know more about cost side I have to send them to billing dept. What happens there I do not know cause I have to time to find out! As our volume of patients increases, our staffing does not increase. If anything, I would say our staffing is decreasing. None of it makes any sense.
Been meaning to go for some first aid/triage/cpr traning.
48.Scrapple n’Ricin says:
August 21, 2013 at 10:10 am
You want healthcare? Go to the goddam gym and quit stuffing your pie hole full of HFCS and mickey d’s.
In the coming world, only the strong will survive.
Because they’re rather point the finger somewhere else than admit they were played as fools.
Ben says:
August 21, 2013 at 10:08 am
Corporations are proving they care more about the bottom line than their employee’s well being? shocking! But libertarians, teatards, and other right wingers keep telling me corporations are our friends. Guess we’ll be one step closer to single payor and taking our nations health care decisions completely out of corporations hands. Awesome! Thanks to Obama for showing the country how bad Republicans health care plans are and how greedy the 1% is.
I love it. Obama enacts a health care plan that is severely short sighted and ends up hurting part time workers more than anyone, and that’s the libertarians fault? Anyone with a slight understanding of business could have told you that this would happen, so why do it?
Try telling the uninformed slobs that a municipality (as well as every govt) IS a corporation. Watch their heads spin…
46.Ben says:
August 21, 2013 at 10:08 am
“These are municipal entities, not greedy corporations…”
So is it Obama’s fault or not? I’m confused.
In other news: We may have a do over
Egyptian Court Removes Last Obstacle to Freeing Former President Mubarak
55. I think that is illegal. At least in our office it is. We were told that it’s discriminatory to have different pricing. Man, that is such a basic concept. It’s amazing how much confusion, or should I say deception there is in healthcare.
re: #61 – A suitcase full of cash still has meaning in this world.
I don’t think so. I think it is commonplace. Everytime I get my statement of benifits there is a column for what the doctor charges, a column for what pricing Cigna has negotiated for that particular service with the in-network doctor (always much less), what Cigna paid, and what part I owe (co-pay or deductible).
62.HouseWhineWine says:
August 21, 2013 at 10:25 am
55. I think that is illegal. At least in our office it is. We were told that it’s discriminatory to have different pricing. Man, that is such a basic concept. It’s amazing how much confusion, or should I say deception there is in healthcare.
Try telling the uninformed slobs that a municipality (as well as every govt) IS a corporation. Watch their heads spin…
Really more of a bizzaro-corporation. Imagine a parallel universe, where growing costs/debt, and not revenue, is the measure of corporate success.
Shit, I think NJ hit some kind of wormhole and went straight there.
Brian, #64
The charge should be the same regardless of the patient. What is actually paid is what varies based on the payer.
If you add what I owe and what Cigna pays, it doesn’t add up to the amount the doctor charges for that service. Neither of us are pursued for the difference so, isn’t that just a roundabout way of charging the insured person one price and the uninsured another?
66.Pete says:
August 21, 2013 at 10:36 am
Brian, #64
The charge should be the same regardless of the patient. What is actually paid is what varies based on the payer.
@ [Grim 65]
Its not just NJ, it’s the entire US. We like to pick sides between Republicans and Democrats but as you become more informed, you realize that argument is about as strong as saying there is a difference between the AL and NL in baseball. They are essentially the same.
66. Either we end up with a single payer program or we are really going to see things get worse. I think we are btwn. a rock and a hard place. I say this because things going from bad to worse, bit by bit, day by day. And no, that doesn’t mean I agree with it and no, I don’t know how it can possibly be paid for.
Brian #67,
Yes it is. Your insurance negotiated the payment on your behalf. The uninsured can negotiate their payments as well, but don’t have the same leverage obviously.
65
Ha! Very true.
Unfortunately the same aspects of no personal responsibility, no personal financial/criminal liability still applies to both the regular and bizarro corporations.
Single payer doesn’t sound so bad anymore, really. Would need to be combined with a radial reengineering of the medical school system as well. I’d like to see all medical schools nationalized, with free tuition to any doctor that agrees to practice under the single payer system. The concept of medicine for profit would essentially need to be destroyed for this to work.
Given that I’ve talked to nurses that were well qualified to be doctors, and doctors who weren’t qualified to be janitors, this makes perfect sense to me.
If I was a surgeon pulling in $500k a year, I’d probably disagree with my suggestion.
I know I’m dreaming but can’t we go back to (or strive for) where people pay without insurance for routine care, exams, procedures… and only have insurance for what insurnace actually is: unexpected emergency care.
69.HouseWhineWine says:
August 21, 2013 at 10:43 am
66. Either we end up with a single payer program or we are really going to see things get worse. I think we are btwn. a rock and a hard place. I say this because things going from bad to worse, bit by bit, day by day. And no, that doesn’t mean I agree with it and no, I don’t know how it can possibly be paid for.
Investing stuff……
Factor ETF’s…..for those of your locked out of Dimensional Fund Advisors, here is some cool stuff, along with TILT…..
http://us.ishares.com/solutions/factor_investing.htm
re # 72 – Vive La France! where life expectancy is 81
I’ve actually always been an advocate of single payer, as at least we will get healthcare that’s predictably inefficient, expensive and third world quality, rather than expensive, unpredictable, corrupt and soul-sucking…which is where Bojanglescare is taking us.
I’ve also always believed that Bojanglescare is a planned fail that will have us all begging for single payer…and fast.
[23] yome,
Two Years ago the lefties on this board ripped me for saying precisely that.
I know it sounds like a stupid question, but what are you trying to accomplish (i.e. what is your angle)? Do you know how mREITs work?
cobbler says:
August 20, 2013 at 8:11 pm
chi: what is your opinion of preferred stocks of mortgage REITs (that for the last few days are selling below liquidation value – NLY, etc.)?
So thinning the herd is not the goal of Obamacare?
I know I’m dreaming but can’t we go back to (or strive for) where people pay without insurance for routine care, exams, procedures… and only have insurance for what insurnace actually is: unexpected emergency care.
Nah, because a day after this happens, some company decides to put together a benefit plan to pay for routine care, exams, and procedures, and to sell this service to companies looking for a way to enhance their benefits packages to retain key management and executives.
On day 2, some dope on Mother Jones posts a comment about the rich getting free healthcare, while the poor have to pay for everything themselves. Google and Facebook HR managers come out saying they are providing this to attract talent.
On day 3, some community organizer calls for everyone to have that same benefit, it shouldn’t be for the rich alone. Outrage sweeps over the “poor” communities.
On day 4, we’re right back to where we are..
guys I’m bowing out of next weeks GTG. Family issues just came up
81
Fair enough. If in addition we repealed the tax deductible status of HC expenses for companies, would they still give it as a perk for upper management? (I’m sure immediately they wouldn’t drop it over night, but maybe over time?)
School districts don’t cut hours of part time subs to maximize profit, they do it so their budget doesn’t get killed giving all their substitute teachers healthcare.
Another negative to this, I have a feeling that this is going to push a number of companies to outsource work offshore. Especially those with a large number of PT backoffice workers. The additional cost of managing, hiring and training a whole additional set of “29’ers” to backfill is going to negatively impact budgets. Cost of attrition, retraining, etc becomes amplified in a scenario where you’ve got a higher number of lower-hour workers.
I suppose the moral of the story is that part timers are getting seriously f*cked here.
I’m throwing my support to a liberal Democrat for mayor of New York City.
http://www.nytimes.com/2013/08/21/nyregion/de-blasio-gingerly-acknowledges-red-sox-allegiance.html?ref=billdeblasio&_r=0
…and we are all becoming part-timers.
Look at the bright side, standard of living dramatically falls in the US, hours worked declines, US wages drop, unemployment falls as more bodies are employed in low-hour part time positions.
… and we become more competitive against emerging market economics for manufacturing jobs.
[72] grim,
You end up with a two or three tiered system. The best goes to those who pay cash or have gold plated insurance, should it sill eist in some form.
Now you can outlaw the private practice of medicine, but you end up with rampant corruption, poorer outcomes for many, a soviet style healthcare system, very happy hospital administrators in other countries, and a new export: elite US doctors.
Without nationalism, our deaths in the countless wars we constantly wage to defend our own nations against others defending their own nations against us would seem arbitrary, almost meaningless. But as long as we have a higher purpose—the love of whatever country we happen to be fighting for—we will always know we did not lose our lives in vain.
Like those heroes who spilled their blood fighting for independence against the British Empire, I, too, would forfeit everything to win for my countrymen the right to be governed by politicians in our own capital instead of in a capital located further away. Nothing is more profound or more sacred than to die for one’s country, an adjacent country, or some other, foreign country.
http://www.theonion.com/articles/im-prepared-to-give-my-life-for-this-or-any-countr,11298/
Pain [82];
Sorry to hear, was hoping to meet as many as are willing FTF. Hope all is well on the home front.
Repeating, in case anyone missed it:
GTG Alert –NJRER GTG now scheduled for Thu 8/29 from 6:30 PM ’til whenever; venue — Montecristo Lounge at J&R Cigars, 301 Route 10 East • Whippany, NJ 07981 (973) 887-0800 (http://www.jrwhippany.com/index.cfm?page=lounge).
Respond, questions, comments, etc. here in any comment thread or to: john (underscore) doebinski (at) yahoo (dot) com.
That is all.
[17] grim,
Corporations and counties are making those decisions and it has nothing to do with $65. I advised both on precisely this issue. So I cannot go into detail except to confirm that it is happening.
The left sys my avoidance is marginal. I’m not so sure. And I’m not happy about it as I will be adversely affected.
Not sure I follow – Are you saying doctors are only motivated by money? Without huge salaries, they’ll leave?
Leave to where, I wonder.
How much less salary will they accept if you eliminate the need for malpractice insurance and tuition bills? Which coincidentally, are two of the most common reasons I’ve heard as justifications for the high salaries.
Errata. S/b “the left says any avoidance . . .”
re: # 88 – I’m turning Japanese I think I’m turning Japanese I really think
so
Turning Japanese I think I’m turning Japanese I really think so
I’m turning Japanese I think I’m turning Japanese I really think
so
Turning Japanese I think I’m turning Japanese I really think so
Nom [87];
Interesting dynamic at play. I laughed when Rudy was all but forced to give grudging praise to the Red Sox as part of his 2008 NH primary swing — as if there were any more identifiable Yankee fan. Or Hillary claiming to be a Yankee fan during here run for NY Senate (which Rudy deftly capitalized on, before he left that race “I’m not calling her a liar, but I’ve never seen her at the Stadium…”)
Its almost as if the masses demand to be lied to.
From Forbes:
Primary care physicians in the United States make $186,000 per year on average versus $131,000 in Germany. Orthopedic surgeon pay ranges from a high of $442,000 in the United States, to $324,000 in the UK, to a relatively parsimonious $187,000 per year in Australia, that according to analysis by the United Health Group Foundation.
Looks like they’ll be taking big pay cuts to leave.
Anon,
I wasn’t saying people don’t go bankrupt over health care costs. I was referring to your example
@andrewmahoney76: Our daughter got a serious infection at 2 weeks in the NICU. Her care would’ve bankrupted us in the US, I can’t imagine the stress.
Half the parents in the NICU have nothing, zip, zilch. They were never going to pay anyway.
When my wife and I had our first baby last September, my wife shared a room with a 24 year old on her third kid who was living in a homeless shelter. She told us how father #1 had kids of his own so he wasn’t paying support, #2 wasn’t around but #3 oh, he was gonna pay! You think that hospital is ever getting anything from her. Do you think she was ever going to pay into Obamacare? To quote Hillary, what difference does it make? If it does make a difference, Obamacare may make sense.
Ever meet a poor doctor in the USA?
I have met plenty of poor lawyers, accountants, business owners, and even poor executives. I don’t think I have ever met a poor doctor. Then again I don’t go to a clinic or the ER for primary care.
Our next one is due in October. Can’t wait to see who my wife’s roomie will be this time. She stays a couple of days because she’s type 1 diabetic.
[94]. Grim
That’s a different equation, but I can easily see that the very elite top docs, real superstars, could do very well by not opting to become de facto government employees.
Consider a top surgical practice, say a cancer practice at M.D. Anderson or a heart practice at Mayo, negotiates a sweet deal with Mexico, Grand Cayman, or Bermuda, relocates everything to a hospital there, gets a massive capital infusion to make it state-of-the-art, and advertises in the US. Medical tourism already exists, and here the hook is access to the best practitioners in the world if you pay cash. I think it could print money.
Of ourselves, that assumes a radically different healthcare landscape here.
[98]. Grim
First, you presume they will go to socialized medicine countries.
Second, you assume that, as highly regulated doctors, they will continue to make that kind of money.
For starters, I like Fast Eddie’s comment earlier today:
“Why couldn’t we just erase the State borders and make private insurance compete for our business?”
And second: Unless there is price transparency costs won’t come down. I want all prices posted everywhere, just like with all other businesses.
Third: I know of very few people who actually question the need for extra tests when a doctor recommends them.
I know of one doctor who said he routinely orders lots of extra tests to protect himself from lawsuits, specially when a patient is in the hospital. It has nothing to do with what’s best for the patient, but what’s best to protect himself. I have heard him say this on several occasions.
It looks like some big poker plays on Obama’s part to get to single payer.
You don’t know compensation in the new environment. Maybe all-in they will receive significant pay raises compared to future lower expectations versus historical levels, which we are openly stating will no longer apply.
grim says:
August 21, 2013 at 11:52 am
From Forbes:
Primary care physicians in the United States make $186,000 per year on average versus $131,000 in Germany. Orthopedic surgeon pay ranges from a high of $442,000 in the United States, to $324,000 in the UK, to a relatively parsimonious $187,000 per year in Australia, that according to analysis by the United Health Group Foundation.
Looks like they’ll be taking big pay cuts to leave.
How about removing local/state C.O.N. laws? If I want to open an MRI facility in location xyz, I need approval from some board made up of people who own the current MRI facilities in the given locale? Yeah, no conflict of interest there.
chi [79]
Yes, I know how mREITs operate, and I think their common stocks still have room to fall further. However, I see the preferreds mispriced at meaningfully below $25 call price, unless one believes the trusts’ interest rate risk hedging is so bad that they can actually go BK. Don’t forget that they have no credit risk (exclusively GSE).
Where is my thinking wrong?
The End Is Nigh (JJ Reports In From Vacation Edition):
Perv masturbating on bus attacks woman and children
From MYFOXNY.COM
Police are looking for a pervert who threatened a woman and children with a knife when she told him to stop masturbating on a New York City bus.
The NYPD says it happened last month in the Bronx but just released information about the incident.
The woman and her children were on the BX2 MTA bus when she says she saw the man masturbating. She asked the man to stop and alerted the bus driver.
Police say the man took out a knife and approached the woman and a struggle ensued.
The woman was able to defend herself and the sicko jumped off the bus as it stopped at E. 171 Street and Grand Concourse. The woman was not hurt.
Police released surveillance photos from a camera on the bus in an effort to track the man down.
The assets may not have (significant) credit risk, but the mREIT’s corporate entity does. The mREIT has all the debt, so in a BK the stock goes to zero and the bonds take the assets. I am not sure at what level to pitch this info….when you saw liquidation value, are you referring to $25, or are you referring to the mREITS assets less all the leverage they have piled on. Remember, the preferred do not get the upside of the stock and do not get the rights of the bonds…..it is in a sense the worse of both worlds….
cobbler says:
August 21, 2013 at 12:11 pm
chi [79]
Yes, I know how mREITs operate, and I think their common stocks still have room to fall further. However, I see the preferreds mispriced at meaningfully below $25 call price, unless one believes the trusts’ interest rate risk hedging is so bad that they can actually go BK. Don’t forget that they have no credit risk (exclusively GSE).
Where is my thinking wrong?
The question whether this will be tolerated in an official capacity. We are sort of there now.
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2645182/
Look at the bright side, standard of living dramatically falls in the US, hours worked declines, US wages drop, unemployment falls as more bodies are employed in low-hour part time positions.
… and we become more competitive against emerging market economics for manufacturing jobs.
Ross Perot said in a debate with Al Gore in the 90s that if NAFTA is passed, America will lose all their jobs to foreigners and they won’t return until their wages come up while ours have gone down. At some point, they would be the same and jobs would eventually come back. He said “in the mean time, you’ve ruined the country”.
Al Gore just ridiculed him and called him a greedy billionaire. 2 decades later, Perot was right, and Al Gore is on the verge of becoming a greedy billionaire.
cobs: several things to consider; you need to look closely at the terms of the pricing sheet….are the dividends cumulative? can the dividend be cancelled without default? there can be technical reasons for the pref to trade the way it does (e.g., ETF/mutual fund liquidations/summer volumes), but it is not as if the stock is “mispriced”……if the pref is currently callable or near call, then it would trade to the next call date plus the next (i.e. final) dividend…..to the extent that it does not, then the market is letting you know that the security will not be called soon. Remember that if the pref is long dated or perpetual, then the market considers it riskier than the most long-dated bond and further trading without debt’s rights.
Cost of med school education: My son will be in debt $270k when he finishes within a year. Think about it. To repay that similar to mortgage, you are down at least $3k a month. If you can’t secure a good specialty, you are screwed.
Aside: Med schools do cost money. Medical/testing equipment, laboratories, cadavers all cost money. Law schools: all you need is a professor, some books and a laptop. Why then the high cost?
Also, the hardest law school to get into in this country is easier to get into than 99% of the medical schools in this country. Look at typical US medical acceptance rates. Even Caribbean medical school acceptance rates are about the same as Yale law school. So tell me again why some lawyers are poor….Maybe it has something to do with smarts.
[111] redux
A better discourse
http://www.parl.gc.ca/content/lop/researchpublications/prb0571-e.htm
First, let’s kill all the doctors?
Maybe Pol Pot was onto something.
chi[113]
Historically, they tend to trade a tad above the call price about 95% of the time. The recent drop to me looked like panic selling in the absence of liquidity (these things are extremely low trading volume), as the different (having equal rights) preferreds of the same issuer were trading totally out of synch with each other. Also, the had been no difference in cumulative v. non-cumulative behavior.
Hey, Clot. Re/MAX is going public. What say you?
120
Someone is trying to cash out
xolepa (120)-
Dave Liniger is cashing out before it all goes bust again. Despite the company’s wakadoodle parroting of the NAR bullshit for public consumption, Liniger is a brilliant guy, and a realist (just days after the Lehman collapse, he was telling his brokers and agents to get into short sales). He knows where all this ends.
BTW, Liniger for years rebuffed offers for the company and resisted many opportunities to go public.
Look at the bright side, standard of living dramatically falls in the US, hours worked declines, US wages drop, unemployment falls as more bodies are employed in low-hour part time positions.
… and
we become more competitive against emerging market economics for manufacturing jobsthe stup1d b@stards are still getting hoodwinked into buying somebody’s 650K piece of sh1t.Yep cashing out at the top. Outstanding!
Egg Harbor Township mayor is selling his home because taxes are too high, report says
http://www.nj.com/news/index.ssf/2013/08/egg_harbor_township_mayor_is_selling_his_home_becase_taxes_are_too_high_report_says.html#incart_m-rpt-1
Even the mayor says his taxes are too high.
Egg Harbor Township Mayor James “Sonny” McCullough is selling his waterfront home because he says he can’t afford the property taxes, according to a report by the Press of Atlantic City.
McCullough, 71, said he has been priced out of the home by local rates and by a township-wide revaluation last year, the report said.
“It’s more than what I can afford,” the mayor told the newspaper. “It’s kind of disappointing. I thought I would be able to live and die in my home, but it’s gotten to the point where it’s gotten up so high.”
McCullough has lived in the township’s Seaview Harbor section since 1974, and he and his wife bought land and built their home in 1985 for $360,000.
The property was valued at slightly more than $1.1 million during last year’s revaluation, which increased his property taxes by nearly 60 percent to $31,056.
McCullough said he is looking to find another home in the township. But if he can’t, he has another choice: The mayor and his wife last year purchased a $150,000 waterfront condominium in North Palm Beach, Fla. Property taxes there are $2,569.
If he can find a buyer. I have sellers in my development trying to sell for 3 years in EHT and just gave up. You are competing with the developers that are giving incentives same price as the old house
tons of shacks for sale in Egg Harbor.
Here is a beauty, starting bid is 10K.
http://www.zillow.com/homedetails/161-Robert-Best-Rd-Egg-Harbor-Township-NJ-08234/37797336_zpid/
(124) Michael, this is one of the unintended consequences of Abbott court decisions. For the children, of course. But even when the mayor can’t hold on to his house because of grossly uneven redistribution of property tax assistance, you’re screwed. Repeat. Abbott screws seniors like no others.
I don’t understand why the Red politicians in this state don’t play that point.
127- This mayor is a sham. He is crying about having to pay 31,000 on his beach front mansion? Obviously you can’t afford it, and has been living there on a discount for years. You were only paying 16,000 before this reassessment? What a rip-off for the rest of the town shouldering his load. No one likes to pay taxes, but it comes with the territory of an extremely high cost of living state. This sham is just looking for reason to jump ship and move to fl. Just looking for an excuse, so he doesn’t look like a hypocrite to the people who have elected him.
It’s as easy as this, you don’t like paying property taxes, then go rent. Obviously, he is not crying about the 700,000 he made off of that property, if he decides to sell. The minute he has to pay something out of pocket like taxes, he is crying bloody murder. Typical greedy mindset who only cares about himself. He can afford multiple properties, but can’t afford taxes? Typical
“There’s something fishy about a Mayor who, as part of the council has at least some input on the municipal portion of their taxes, suddenly puts his house up for sale after last year’s revaluation. A revaluation that showed he was actually underpaying by 60%.
I wonder how long he and his wealthy neighbors benefited off the backs of the rest of his community who, according to the link, saw on average, a 1% increase. “
This point is exactly correct…..look at Blackstone in 2007. When they IPO, they essentially made the tacit public comment that we are selling at the top…..that point on the upper left is the IPO price…..fka $35..never to be sniffed again….
http://finance.yahoo.com/echarts?s=BX+Interactive#symbol=bx;range=my;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
Scrapple n’Ricin says:
August 21, 2013 at 1:25 pm
xolepa (120)-
Dave Liniger is cashing out before it all goes bust again. Despite the company’s wakadoodle parroting of the NAR bullshit for public consumption, Liniger is a brilliant guy, and a realist (just days after the Lehman collapse, he was telling his brokers and agents to get into short sales). He knows where all this ends.
Michael,
If all the wealthy greedy people were underpaying, and now we’ve fixed that… why didn’t everyone else see a net decrease of some percentage?
To Comrade Nom Deplume #102
A big error people make regarding the expensive open heart and cancer practices is the following issue. The expensive US center that you mention below take on and treat patients that are at the likeliest lowest level of success. Essentially a gamble.
The For-Profit places that are cheap that you hear in CNBC or other business channels would not touch this people with a 10 ft pole. They stick to the healthiest, easy to do cases.
Up to 70 most people do well post open heart. 70-75 well starts to look funny. 75+ is iffier. Next time you are in an hospital that does open heart, keep an eye out for the Respiratory Care Units/ Pulmonary Care Units and alike. This are the units were the post open heart patients that were not able to wean off ventialtors are warehoused until found a placed in a Long Term Vent Unit/ Long Term Acute Care Hospital – Nursing Home at about $500 a day Medicare rate. By the way the City of Hackensack voted against a planned highrise facility like this recently.
As much as you might talk about Medical Tourism, when you are 80 and need a quadruple by-pass or have pancreatic cancer and need a “Whipple Procedure” you will go to MD Anderson, Sloan Kettering, NYU, NY Cornell and not to a Hospital in Bermuda.
————–
Consider a top surgical practice, say a cancer practice at M.D. Anderson or a heart practice at Mayo, negotiates a sweet deal with Mexico, Grand Cayman, or Bermuda, relocates everything to a hospital there, gets a massive capital infusion to make it state-of-the-art, and advertises in the US. Medical tourism already exists, and here the hook is access to the best practitioners in the world if you pay cash. I think it could print money.
127- Half of the seniors screwed themselves by wasting their money on booze and gambling. The other half are stupid loaded, crying to the day they die about taxes, meanwhile their families find 400,000 (some millions) in cash sitting in their basement or some random bank accounts. The families end up scratching their heads asking why did grandpa live like a hobo and act like he was going broke? The problem with this group of seniors is they stopped working, the money stopped growing, and they automatically thought they were now broke. (Total mentality thing) It’s freaking comical!!!
130-Rather simple Joyce, inflation!!!!
#27 Michael,
Yeah great, and what does medical school cost in the US? What does it cost in Germany? Doctors in the US start out under massive debt and need to make it back. Doctors in Germany start out with 0 debt. Plenty of blame to go around, just no quick and easy solution.
By inflation, do you mean the town not only raised taxes on the wealthy greedy bastards but everyone? even the little guys you’re crusading for?
134- I can’t believe you are defending the health industry that is robbing you blind. How long does it really take to pay off 300,000 loan debt when you are making 500,000 a year. Why are health field jobs placed on a pedestal, when they are robbing us. I always bring up teachers, because its the most commonly attacked profession these days. You are attacking a teacher making 55,000 after 10 years of exp, but meanwhile a radiologist (2 year degree) is starting at 75,000? The health industry (including doctors) are an outright sham, robbing the public blind. It’s ok to charge 100,000 more for the same exact surgery because it’s performed in the usa? It’s ok because our doctors come out of school with loan debts and Germans don’t!!! Brilliant!!
135- Taxes will never go down and yes, inflation is a big part of it. It’s nice to put a two percent cap, but in reality, it’s impossible based on inflation. I wish most people really understood how money works. Inflation is almost always left out of the equation. Why did my taxes go up? Because it’s impossible to stay flat in a monetary system that favors inflation.
Grim #72
What about making medical school a national merit scholarship program? Paid in full, but with very competitive standards for entry, and with a requirement that doctors spend a certain amount of time – say 2 or 3 years – working in community clinics for a wage that’s just enough to pay the bills, before going into private practice?
Wouldn’t that be better for the doc’s vs. spending years paying off student loans?
I have to shop the exchanges come Oct. 1. My group medical – single proprietor group – is outlawed by Obamacare come Dec. 31. My group includes lots of trade associations in the arts, but self-employed people.
scribe,
Would that limit or increase the number of medical professionals? One problem we have now is limited supply.
Michael,
I’ve got a post for you, but it looks like it is moderated.
Michael,
“Price increases are deemed excessive under the law if they are more than 10 percent above the price at which the good or service was sold during the normal course of business…”
Why should govt entities get a pass for jacking someone’s taxes more than 10%?
For almost two years, EFF has been fighting the government in federal court to force the public release of an 86-page opinion of the secret Foreign Intelligence Surveillance Court (FISC). Issued in October 2011, the secret court’s opinion found that surveillance conducted by the NSA under the FISA Amendments Act was unconstitutional and violated “the spirit of” federal law.
Today, EFF can declare victory: a federal court ordered the government to release records in our litigation, the government has indicated it intends to release the opinion today, and ODNI has called a 3:00 ET press conference to discuss “issues” with FISA Amendments Act surveillance, which we assume will include a discussion of the opinion.
It remains to be seen how much of the opinion the government will actually make available to the public. President Obama has repeatedly said he welcomes a debate on the NSA’s surveillance: disclosing this opinion—and releasing enough of it so that citizens and advocates can intelligently debate the constitutional violation that occurred—is a critical step in ensuring that an informed debate takes place.
https://www.eff.org/deeplinks/2013/08/eff-victory-results-expected-release-secret-court-opinion-finding-nsa-surveillance
141- It was a reevaluation. Your property went up in value, you now owe more. Your house is worth less, you can fight to get it lowered, which actually does major harm to the town finances.
This clown was getting away with bloody murder. He was paying 60% less than what he was supposed to be paying for years. Now that he is actually paying a fair amount based on his property value, he is crying about taxes? What a joker!!
So value goes up, you owe more… value goes down, you have to fight. No problem with that system, Michael?
Disability-Fraud Probe Leads to Arrests in Puerto Rico
Social Security Benefits May Have Been Improperly Obtained
Anyone thinks this would go on in NJ?
And you only care about the town’s finances, what about the individual’s? I thought you had an open mind!!!
Michael,
Have you looked up median, mean, and skewed distribution yet?
Median household income, 2007-2011 $71,180
Michael, most learned individuals would never survive the regimen thrown at medical school students. Probably 1/4 of the students accepted can’t cut it either. In order to be accepted to these institutions you had to bust from age one. There was never any room in their lives to strive for anything but being the best. So, how does society compensate those who sacrifice from day 1 of learning? What do you consider the best tools/methods for society to employ to balance the costs of medicine and the quality of care?
144- It’s a complicated system, it’s not as easy as just lowering the tax because your home lost value. Anyway, for the most part houses go up over time. Yes, we just witnessed a huge bubble in real estate in the past decade, which caused people to realize that prices don’t always go up. Going into 2003, I had argument after argument with people fighting me, on the issue that real estate can’t go down. I do not feel bad for the people who bought a house between 2003 to 2007. They are complete morons. Anyone with a half a brain when it comes to economics, would know to never buy at those prices. You think 50% to 100% price gains are sustainable? Those idiots can suck it. It was inevitable your house would go down after those kinds of increases. That whole mess was created by one thing—–GREED. Greed is blinding!!!!! Everyone from every angle was driven and blinded by greed!!!
Why is it just that easy to raise the tax cause your home increased in value?
149.Michael says:
August 21, 2013 at 4:24 pm
144- It’s a complicated system, it’s not as easy as just lowering the tax because your home lost value.
Michael,
Let’s look at the mayor’s story another way. He bought the house a long time ago. Now he’s retired and he can’t afford the new property taxes but he’s saying he could afford the old property taxes. Yes, he’ll sell the place for a profit but the message from the town is “Yes, you built a very nice house but we want people who can afford to live here.” It sounds like he doesn’t want to sell but he’s being punished for building too nice a house and he can’t afford the town’s rent.
148- Great, because you finished at the top of the class, you get a free ride to extort the rest of the population? It better be competitive based on what these people are getting paid!!! People need to stop treating doctors as if they were gods. It’s pretty pathetic.
@NewsBreaker: NEW ACCUSATION: “Woman of the Year” honoree says San Diego Mayor Filner “grabbed her buttocks” http://t.co/4vHkJRYLsi http://t.co/0i4XB111KH
re# 152 Michael – the docs don’t get much worship from me. How many doctors busted in the last few years for running Oxy prescription mills?\
My second favorite google seach next to “lawyer arrested”
https://www.google.com/#fp=f365ddd7b11e50e0&q=doctor+arrested
re # 154 – The lady that ran a massage joint is complaining about ass grabbing?
The Spa of La Jolla closed last year and Dianne York filed for bankruptcy.
http://www.yelp.com/biz/the-spa-of-la-jolla-la-jolla-2
re# 152 Michael – the docs don’t get much worship from me. How many doctors busted in the last few years for running script mills?
My second favorite google search next to “lawyer arrested”
https://www.google.com/#fp=f365ddd7b11e50e0&q=doctor+arrested
It doesn’t matter if you did or didn’t say it, Michael said you said it… and he’s right and you’re wrong.
155.Juice Box says:
August 21, 2013 at 4:55 pm
re# 152 Michael – the docs don’t get much worship from me.
I’ve read enough to know that “Michael” is shining us on. Well played, sir (or madam).
I thought He Who Must Not Be Named said he wouldn’t be posting here anymore.
re: #159 – Rags only one way out of the vortex. Mommy has to pull the plug on your internet connection.
I’ll say it again:
Michael = REinvestor 101
What a goddam idiot this michael tool is.
Theoretically a revaluation should be revenue neutral to a township, or did you not figure that one out?
Michael says:
August 21, 2013 at 4:13 pm
141- It was a reevaluation. Your property went up in value, you now owe more. Your house is worth less, you can fight to get it lowered, which actually does major harm to the town finances.
I think it is called capitalism……one of the most extreme examples is business conducted on the Internet…..of course, if you “extort” (your word), you better to continue to differentiate, or else someone will come and take away your advantage…..
Michael says:
August 21, 2013 at 4:32 pm
148- Great, because you finished at the top of the class, you get a free ride to extort the rest of the population? It better be competitive based on what these people are getting paid!!! People need to stop treating doctors as if they were gods. It’s pretty pathetic.
Most people will buy as much house or as much car as someone will loan (lease) them. When the qualification controls are removed, there is no regulating system in place.
Michael says:
August 21, 2013 at 4:24 pm
Anyone with a half a brain when it comes to economics, would know to never buy at those prices.
No comments necessary
http://money.cnn.com/2013/08/21/news/companies/ups-obamacare/index.html
I’m pulling analysis out of my a%% because I am not looking at the instruments. That said, how long have you’ve been following these pref’s? The reason being that I am of the opinion that May 2013 was the inflection point of spread product (spread above UST), and as opposed to an environment of consistently rising fixed income prices (i.e. dropping rates), we are in a long-term selloff. As a result, you never had the full benefit on the way up, because of the threat of the call. However, on the way down, there is no such protection, and these conditions may persist unless there is evidence of a call. What I would say is that you must rank the pref’s in dividend yield order. I know it appears to be caveman analysis, but literally on the corporate books, it is always most valuable to hack off the highest coupon first. Also, unless you expect some period of relative calm, these disjointed markets are going to be the norm.
To help you perform some analysis, you should find some ETF that hold your pref’s. The ETF’s really help on the way up, and they are going to be a headwind going forward for getting you back to the call price. You can gamble that the UST10 hit 2% before 3%…if so, you could make a JJ style killing……
cobbler says:
August 21, 2013 at 1:10 pm
chi[113] Historically, they tend to trade a tad above the call price about 95% of the time.
as an example…..check here…
http://us.ishares.com/product_info/fund/holdings/PFF.htm
also, think about it…..if you have a junk rating and you are 25+years out or perpetual……what the hell is that?
That said, it could be a shrewd move….but you better understand your exposure…..
The End Is Nigh (Buy Now or Be Priced Out Forever Edition):
Wells Fargo eliminates 2,300 mortgage jobs
http://www.cnbc.com/id/100979154
Whore’s in Hunterton , It s over
http://www.nj.com/hunterdon-county-democrat/index.ssf/2013/08/two_men_charged_in_alleged_pro.html#incart_river_default
My home value went way down…..and my taxes went up. I tried to grieve but town said FU.
Michael says:
August 21, 2013 at 4:13 pm
141- It was a reevaluation. Your property went up in value, you now owe more. Your house is worth less, you can fight to get it lowered, which actually does major harm to the town finances.
This clown was getting away with bloody murder. He was paying 60% less than what he was supposed to be paying for years. Now that he is actually paying a fair amount based on his property value, he is crying about taxes? What a joker!!
Two fastest growing industries in Hunterdon are ho’s and meth.
Wells Fargo eliminates 2,300 mortgage jobs
Maybe I was wrong, maybe lenders aren’t going to shift workers towards a loosened purchase pipeline from the now nonexistent refi pipeline.
O’Reilly calling out various groups over the Okla. boredom killing. Later tonight, Matthews and Maddow will call him a racist.
164- Huh, it’s called capitalism? I call it a cartel!! How does the health care system operate under a capitalist system? No competition, who knows what the pricing really is. On top of that it’s fueled by an artificial market called health insurance, aka the goose that lays the golden eggs. Spare me the bs. I’m sure you think oil prices are based on a capitalist system too.
after reading post 143, I’m convinced Michael = the reincarnation of RE101.
all of you are just playing will a fluffy ball of yarn
grim (174)-
At the end of the day, there is no aggregate demand for purchase money mortgages, and the refi biz is dead man walking.
The entire blip that has been puffed into the illusion of a housing recovery has been driven by investors paying cash. The 50-100 year housing torpor will now continue apace.
Oh… and what few purchase money-financed buyers there have been since 2008 were pulled forward by the clunkersforhouses program, then ZIRP 4eva.
Wait until the 10y hits about 4.5%. You’ll be able to hear a pin drop.
Clot- like the tilted smile imperial pils. Really drinkable at 9%.
Tough to catch up on 175 posts after playing customer golf all day. #Salespeople problems.
Cost me $5 to have each of my kids. Paid the first copay for my wife. Ridiculous. People are so far removed to the actual cost of healthcare it is obscene. I remember when my parents paid out of their pocket first, and then the insurance company reimbursed them for everyday doctor visits. Wouldn’t work now, although the credit card companies would love it.
That being said, no one in the healthcare field including doctors, corps, drug pushers, and especially insurance companies are helping their cause by grasping for the last dollar before they get axed by the single payer.
If you like imperial pils, none are better than Dogfish Head My Antonia.
Jesse Jackson speaks out on Australian athlete’s murder at the hands of ‘bored’ teens
http://dailycaller.com/2013/08/21/jesse-jackson-speaks-out-on-murder-by-teens-of-australian-athlete/
181
My Antonia is in my regular rotation. First time I had seen the tilted smile.
The local flavor out of Va was meh. Nice place. Sales girl was very nice.
Ill swing by when I’m in the area making calls. Thanks again for the 120.
Michael, most learned individuals would never survive the regimen thrown at medical school students. Probably 1/4 of the students accepted can’t cut it either. In order to be accepted to these institutions you had to bust from age one. There was never any room in their lives to strive for anything but being the best. So, how does society compensate those who sacrifice from day 1 of learning? What do you consider the best tools/methods for society to employ to balance the costs of medicine and the quality of care?
I love how doctors always claim how rigorous everything was. I got news for you, its not that hard to get accepted into med school.
There was never any room in their lives to strive for anything but being the best.
I got drunk the night before my Organic final. I took the MCATs hungover. I was out at the bar until 2 a.m. the night before my med school interviews. There was plenty of time to strive for other things… I’m not saying that plenty of people don’t work hard to get into Med school, but seriously, get off your high horse.
Getting into med school requires a high GPA, 4 years of Undergraduate science, MCATs, and some volunteer work. That’s about it. Oh yeah, and you need to enter the interview with a BS story about why you want to be a doctor because its sooooooooo frowned upon to say you want to make money.
Grim nails it, like always:
http://www.northjersey.com/news/220566571_Citing_health_law__UPS_says_it_will_end_coverage_for_15_000_working_spouses.html?mobile=1&ic=1&iphone=1
[185] grim
Uh, see post 166
[182] Brian
Jesse thinks it is “frowned upon”.
Such strong, vitriolic language. That’ll fire up the base.
Crickets are louder.
Tough trying to keep up with almost 200 comments
Yes, it would. But the people who benefit from the lack of price transparency among other things (cause it raises prices & raises their incomes) don’t want that. And they have quite a lot of influence these days.
180.Hughesrep says:
August 21, 2013 at 8:27 pm
I remember when my parents paid out of their pocket first, and then the insurance company reimbursed them for everyday doctor visits.
Alabama Cop Fired For Recording His Sgt. Ordering Ticket Quota “The Police State” 8/15/2013
http://www.youtube.com/watch?v=mJLh3KlUHS4
What do you guys think of this piece?
http://faculty-web.at.northwestern.edu/economics/gordon/Is%20US%20Economic%20Growth%20Over.pdf
You are going to post an Economic paper from Chicago on these threads, and its source is Evanston? Sight unseen…..pure horsepiss…..
Michael says:
August 21, 2013 at 11:08 pm
What do you guys think of this piece?
http://faculty-web.at.northwestern.edu/economics/gordon/Is%20US%20Economic%20Growth%20Over.pdf
Your source for economic research is off by 22 miles and on the other side of The Loop. To be clear, this error is egregious and reflects a serious lack of judgement.
Michael says:
August 21, 2013 at 11:08 pm
What do you guys think of this piece?
http://faculty-web.at.northwestern.edu/economics/gordon/Is%20US%20Economic%20Growth%20Over.pdf
[193] chifi
Yes, it is way off. Unless it originated in 02138, it is garbage.
I didn’t agree with it and I wasn’t trying to prove anything. I just wanted to hear some of your opinions on the paper.
Joyce,
No idea on supply/demand, but my guess is that more people would pursue a medical career if they could get a paid-in-full merit scholarship in exchange for some community service.
Some interesting points.
“Some of the headwinds contain a sense of inevitability. The most daunting is headwind (4), the interplay between globalization and modern technology, which accelerates the process of catching up of the emerging markets and the downward pressure on wages and real incomes in the advanced nations. In the U.S. the process of downward wage adjustment continues apace as southern states lure foreign auto and aircraft manufacturers with the promise that pesky unions will not be a problem and that wages can be lower than in northern unionized states. This in turns puts pressure on legacy firms in the north to introduce two-tier wage systems that pay new entrants half the traditional union wage, as has occurred in the Midwest auto industry in the past few years. The “revival of American manufacturing” is heralded in the media without recognition that this is part of an ongoing process that erodes the number of high- paying middle-class jobs available to those without a college education.
Globalization does not reduce the growth of all American wages; it hits the middle hardest.15 Top executives of multinational industrial and financial firms can enjoy rising incomes based on their firms’ reach across the world. The CEOs of Coca-Cola and Boeing enjoy a worldwide market, and the rise of the emerging markets is an opportunity rather than a threat to them and adds to their bonuses and value of their stock options”
chi [167]
Following (and owning at times) these preferreds for about 10 years. Obviously, they had a huge dip in 2008-09, but were mostly holding within 1 quarterly div from the call price (for the reasons you’d mentioned) the rest of the time. As for ETF’s, these things are way too illiquid to be a part – easily drop 3% from someone dumping 3K shares at the market.
I don’t see what the big deal is regarding the ups story, they are only dropping spouses who are eligible for insurance with their own employer correct? So go get insurance there.
Its hard to find knowledgeable men and women on this matter, but you seem like you know what youre talking about! Thanks