From CNBC:
Nearly 11 Percent of US Houses Empty
I usually find the quarterly homeowner vacancy and homeownership report from Census pretty lackluster, but the latest one released this morning was anything but.
America’s home ownership rate, after holding steady for a while, took a pretty big plunge in Q4, from 66.9 percent to 66.5 percent. That’s down from the 2004 peak of 69.2 percent and the lowest level since 1998.
Homeownership is falling at an alarming pace, despite the fact that home prices have fallen, affordability is much improved and inventories of new and existing homes are still running quite high.
Bargains abound, but few are interested or eligible to take advantage.
More concerning than the home ownership rate is the vacancy rate. The Census tables don’t tell the entire story, but they tell a lot of it. Of the nearly 131 million housing units in this country, 112.5 million are occupied. 74.8 million are owned, and that’s only dropped by about 30 thousand in the past year. 38 million are rented, but that’s up by over a million year over year. That means more new households are choosing to rent.
Now to vacancies. There were 18.4 million vacant homes in the U.S. in Q4 ’10 (11 percent of all housing units vacant all year round), which is actually an improvement of 427,000 from a year ago, but not for the reasons you’d think.
The number of vacant homes for rent fell by 493 thousand, as rental demand rose. 471,000 homes are listed as “Held off Market” about half for temporary use, but the other half are likely foreclosures. And no, the shadow inventory isn’t just 200,000, it’s far higher than that.
So think about it. Eleven percent of the houses in America are empty. This as builders start to get more bullish, and renting apartments becomes ever more popular. Vacancies in the apartment sector have been falling steadily and dramatically, why? Because we’re still recovering emotionally from the toll of the housing crash.
From CNN:
Whose house is being saved by Obama?
More than half a million Americans have received permanent mortgage modifications from the Obama administration’s flagship foreclosure prevention program, the Home Affordable Modification Program.
So who are these homeowners?
To begin with, the reason they are falling behind on their mortgages isn’t because their loans are unaffordable, according to a report released Monday by the Treasury Department.
Instead, defaults are stemming from the weak economy and unemployment: In December, 60% of the borrowers who received permanent HAMP mods were facing a loss of income. Just 11% were the result of unaffordable mortgages.
L.A. and New York City have the largest concentrations of these beneficiaries, and their ethnicity roughly reflects the nation as a whole: 33% of borrowers who received permanent modifications were white, while 12% were African American, 18% are Hispanic and 3% are Asian. (The numbers don’t add up to 100% because many people did not report ethnicity.)
Median household income for them was just $46,000, well short of affluent. Their credit scores averaged about 570 at the time of modification, which would, under today’s lending conditions, prevent them from obtaining loans.
From NASDAQ:
One in Five HAMPs Delinquent Again
Nearly 20 percent of all homeowners who received permanent mortgage loan modifications through HAMP one year ago have fallen behind on their payments again, according to the latest figures from the Treasury Department.
Over 15 percent were already at least 90 days past due on their mortgage, with the others at least 60 days past due, according to the December report on HAMP, the government’s primary anti-foreclosure program. The figures were based on some 50,000 borrowers who obtained permanent HAMP loan modifications in the fourth quarter of 2009.
The figures show that although borrowers who obtain HAMP modifications reduce their monthly mortgage obligation by an average of more than $500 a month, many still are unable to manage the payments and soon fall behind on their payments again.
From the WSJ:
Boom’s Home-Ownership Gains Lost
The meltdown of the U.S. mortgage market and rising foreclosures have wiped out more homeowners than were created in the 2000-07 housing boom, some industry watchers say, the latest indication of the severity of the housing bust.
In the fourth quarter of 2010, 66.5% of Americans owned homes, down from 67.2% a year earlier and the lowest rate since the end of 1998, according the Census Bureau. During the boom, when easy credit made mortgages available with less regard for income or ability to pay, the ownership rate surged to a record 69.2% in 2004’s second and fourth quarters and stayed near that level until the recession deepened.
Some industry watchers expect the rate to slip below 65% as the housing market meltdown forces millions more Americans to give up their homes.
That “shows how big the bubble was and how catastrophic the bursting has been,” said Paul Dales, senior U.S. economist with Capital Economics. “We have pretty much reversed all of the increases in the home-owner rate generated by the housing boom.”
From DealBreaker:
Lenny Dykstra’s Crown Jewel Sold
CNBC reports that Lenny Dykstra’s Sherwood mansion, which he bought from Wayne Gretzky in 2007 and was thrown out of 2008, has been sold to an unnamed buyer for an undisclosed amount (it was sold by Index Investors, the second lienholder, which bought the place out of foreclosure last fall). At this time we’d like to take a walk down memory lane, stopping to remember the high points of Lenny’s history with the manse, which will hopefully be preserved when whoever bought the place does the right thing and turns it into a Dykstra museum.
Good Morning New Jersey
The people that have the ability to pay and don’t (strategic default) will become our next round of millionaires. Heard that in Florida the banks are trying to get the courts to Garnish wages.
Even the millionaires who can afford to pay but they’re not http://www.cbsnews.com/stories/2011/01/30/eveningnews/main7300082.shtml
Snow day all home, getting ready for shore’s ice storm up here in Vernon. Power loss in the cards, damm it’s cold no power will mean no heat. Will put on Nat’l gas fire place leave on, works by switch but once on it will keep burning. Thing eats gas like a drunkin sailor but what the hell. Twenty five lb turkey to enter oven soon! It is coming down like hells bells, figure we all be here tomorrow also.
Mike, 8
Turkey! Nice! Stuff the cavity with onions, apples and one half of an orange along with poultry seasoning.
I love turkey!
sl
sl
Sl just checked the stores no apples, may brave the storm to get some, also some loose breakfast sausage (local butcher) along with bag stuffing bread is where I’d like to go.
My cooking rule of thumb, you can’t go wrong with pork.
Bargins abound? Show me ONE.
Slow going, highways turning into parking lots. Looks like many decided to brave the weather this morning.
Vile stench of death in the air today.
grim 11 for sure.
JJ you at work , you can’t pass up the pork!
grim, you on the road?
Clot good morning to you to, smells pretty good in my kitchen.
Anyone a fan of the Feelies? Can’t stop listening, Good Earth might be my new favorite album.
Check it out, Clot is now leading Brewery Tours:
http://www.youtube.com/watch?v=91DH4lNpniE
http://www.youtube.com/watch?v=ihsXbK-L6lg&feature=related
Going up to 78 in sunny Florida today. Might take a dip in the pool and get some
Vitamin D production going. Suck it NJ.
OK I am turning over a new leaf. I don’t want to be that cranky old boss who does not understand younger workers.
OK tell me what to do. For the over 40 people, I give them a 15 minute review at goal setting, 15 minute midyear review and a 15 minute year end review. I give them stuff to do and they do it as they know it will hurt their bonus. I really don’t care what they do all day as long as work gets done.
The under 40 crowd seems to think I am managing their career somehow, wants lots of feedback, seems to think I care their wife is sick, their kid is sick, they have childcare issues etc. I even once said to one, lets say you hire a plumber and he is late or can’t make it do you really care. All you want is job done, that is all I care about. Still next day I get nanny is running late.
The under 40 crowd also confuses me as to me boss taking you to lunch, departmental dinner is an honor and morale booster, to them it is like pulling teeth. When home office is in town they won’t even do anything with them unless forced. Even training which to me is a big perk, a flight somewhere and a few nights in a nice hotel seems like a burden, they just want something like a webcam thing, quick and easy. Even more confusing money does not motivate them. The year I gave out big checks their work did not improve. Other thing I noticed they conspire. They share bonus type info and they are less likely to try to take whole pot, rather if post is 100K and there are two AVPs they are content to both dial it in and take 50K each then have one work 70 hours a week and take whole pot of 100K.
So how do I motivate these people. I tried telecommuting, flex time briefly which they wanted but to me it is a huge hassel. I do all the tracking and I don’t know what they are doing and I never know if they are making up the time. Plus they seem to take less interest in work, when I started on wall street I subscibed to wall st journal, watched nightly business report and kept up on everything. They seem to facebook or fantsy football and come to work as it is just a job, not a career, yet they want me to promote them and give them bonuses like it is a career. I don’t understand why it is my job. But I want to change. How do you motivate these 25-35 year old people? The over 40 guys/girls, take them him to a steak dinner once a year, let him go to a conference boondoogle once a year and they work, The younger ones confuse me, my cousin who consults on this stuff, says there are also “lifestyle issues”. I said what do you mean. The younger generation eats healther, drinks less, goes organic, goes to spin classes, facebooks, texts etc. The idea of going to a steak dinner and having a few beers is torture for them. The idea of going to a conference, de-interneting, de-cellphoning, eating conference food, going to heavy dinners, talking to new people and going by yourself is tortue to them. Meanwhile those are things over 40 people want.
So what do these people want?
So what do these people want?
Constant ego stroking and validation.
grim, (can you send me a copy? re Feelies)
I am currently smitten with Rush. Greatest hits, Moving Pictures currently on replay for my commute. Still can’t understand why YYZ never made it to the Greatest hits and the Trees did.
sl
There are many factors for Vacancy Rate. For example:
1) Foreclosure Shadow Inventory: While banks go through the foreclosure process, homes that have been vacated stay empty. Making it worse are governments that force the foreclosure process to go even slower.
2) In NJ, high Taxes also play a key role in Vacancy Rate: If your taxes are high, your monthly payments will be too high, making it a bad financial investment to buy a house. In NJ, government has gotten fat and passed the burden of staying fat onto the taxpayer, through Real Estate Taxes. Take a look at homes that don’t sell (on the MLS or Trulia) and you’ll find that a huge percentage of them have unreasonable Real Estate Taxes. In Union County, it’s not uncommon for homes that cost about $500K to have $12K/year in taxes. Most people will “never” be able to afford the mortgage and the tax payment.
3) Smarter Buyers: The so called American dream to own a home is the Association of Realtors’ dream that they market to Americans. Most potential buyers are starting to realize that you can be happy in a rental, accumulating wealth in a low risk manner. Smart Buyers also realize that things will probably get far worse before they get better, regardless of what anyone is optimistically pitching. The level of “cautiousness” is getting higher by the day.
4) The incentives of owning a home are disappearing. It used to be that owing a home meant a financial advantage. Because of things like high tax rates, you have outside factors that are constantly eating away at those advantages, like leaches.
5) The high unemployment rate keeps many people in the state of being afraid of losing their jobs. Who wants to be strapped to a house if your worry is that your just going to lose it and all of your investments in it.
My Best,
Frank
20 JJ:
Why is telecommuting/flextime such a hassle if you “don’t care what they do all day as long as work gets done.”?
Mike, Sausage stuffing is da bomb.
grim, re pork: I made pulled pork and spare ribs last night but didn’t pay enough attention to it. Posted on FB. Next time I’m trying a different recipe.
sl
JJ Reread your post you know what they want. They just aren’t going to get it. Tough sh*t I say, gotta go with you on this one. You want the cabbage do what you gotta do.
Sl heading out now to store.
Anyone looking for a big place in Morris County in a great school district let me know.
I have a line on an awesome home, albeit non-traditional, at one of the best prices I’ve yet to see in Morris. Home was custom built in the early 80s, but everything was (and still is) top of the line. Asking price is very aggressive, and the replacement cost on this place would likely be at least 100 to 150k higher than ask.
I was seriously considering this place, but the fact is it doesn’t have a great yard (wooded, steep slope), so it just wouldn’t work out. The dogs veto’ed it, even though they’d all have their own bedrooms. That and it might just be too much house for us.
Taxes have already been appealed and substantially reduced.
Because when they want to do it there is snow, sleet, rain, horrible commute etc. and I find it arrogant that they want to sit home and expect their boss to trudge to work in horrible conditions to cover for them.
Also it is a communication issue. One kid wanted to telecommute when it snowed, I said if buses or trains are running get to work or take a vaction day. So midday I need an update on an outstanding issue for a VIP. I ask kid for update, he goes am on it, then an hour later I ask for status he says I emailed him and he did not respond, I am like well get him on the phone, hour later I go what is status I left a voice mail. Finally I go walk up to his office and get me my update. He does and I get my response. That is why he thinks he can telecommute, cause at work he sits in cube all day, emailing people down the hallway so why not do that from home.
onthebrink says:
February 1, 2011 at 8:56 am
20 JJ:
Why is telecommuting/flextime such a hassle if you “don’t care what they do all day as long as work gets done.”?
Pork chops stuffed with smoked sausage and wrapped in bacon, served with asparagus and fresh homemade bread!!!!
JJ: lay it out exactly as you did here; you give them the talk once….they continue to fcuk up? them fcuk ’em….hit them in the paycheck…..also, I experienced sharing comp info among peers……AKA code of conduct violation grounds for reprimand or termination if egregious or chronic….
JJ says:
February 1, 2011 at 8:41 am
OK I am turning over a new leaf. I don’t want to be that cranky old boss who does not understand younger workers.
OK tell me what to do. For the over 40 people, I give them a 15 minute review at goal setting, 15 minute midyear review and a 15 minute year end review. I give them stuff to do and they do it as they know it will hurt their bonus. I really don’t care what they do all day as long as work gets done.
The under 40 crowd seems to think I am managing their career somehow, wants lots of feedback, seems to think I care their wife is sick, their kid is sick, they have childcare issues etc. I even once said to one, lets say you hire a plumber and he is late or can’t make it do you really care. All you want is job done, that is all I care about. Still next day I get nanny is running late.
The under 40 crowd also confuses me as to me boss taking you to lunch, departmental dinner is an honor and morale booster, to them it is like pulling teeth. When home office is in town they won’t even do anything with them unless forced. Even training which to me is a big perk, a flight somewhere and a few nights in a nice hotel seems like a burden, they just want something like a webcam thing, quick and easy. Even more confusing money does not motivate them. The year I gave out big checks their work did not improve. Other thing I noticed they conspire. They share bonus type info and they are less likely to try to take whole pot, rather if post is 100K and there are two AVPs they are content to both dial it in and take 50K each then have one work 70 hours a week and take whole pot of 100K.
So how do I motivate these people. I tried telecommuting, flex time briefly which they wanted but to me it is a huge hassel. I do all the tracking and I don’t know what they are doing and I never know if they are making up the time. Plus they seem to take less interest in work, when I started on wall street I subscibed to wall st journal, watched nightly business report and kept up on everything. They seem to facebook or fantsy football and come to work as it is just a job, not a career, yet they want me to promote them and give them bonuses like it is a career. I don’t understand why it is my job. But I want to change. How do you motivate these 25-35 year old people? The over 40 guys/girls, take them him to a steak dinner once a year, let him go to a conference boondoogle once a year and they work, The younger ones confuse me, my cousin who consults on this stuff, says there are also “lifestyle issues”. I said what do you mean. The younger generation eats healther, drinks less, goes organic, goes to spin classes, facebooks, texts etc. The idea of going to a steak dinner and having a few beers is torture for them. The idea of going to a conference, de-interneting, de-cellphoning, eating conference food, going to heavy dinners, talking to new people and going by yourself is tortue to them. Meanwhile those are things over 40 people want.
So what do these people want?
Jets fire 30 in sales force
BY Manish Mehta
The Jets eliminated approximately 30 jobs in the sales department last week, team spokesman Bruce Speight confirmed. The organization beefed up its personal seat license sales efforts last year for the opening of the New Meadowlands Stadium with temporary sales positions. The possibility of a lockout this offseason could conceivably make it more difficult to sell additional PSLs for the 2011 season.
The Jets reduced the price of 9,000 personal seat licenses last summer by up to 50% to avoid a blackout of the season opener against the Baltimore Ravens.
The Jets didn’t disclose how many unsold PSLs remain. The team’s current focus is selling club seats.
Is the sharing of compensation information regularly barred in codes of conduct amongst the financial fields? What JJ is seeing is one of the best long term strategies in game theory for maximizing reward while minimizing output.
Re: Vacancies
Wonder what typical vacancy rate is. Second homes, transfers, dilapidated structures, etc. … account for quite a bit of vacant homes even in better times.
If the Jets were my seller I would tell them: 2 straight AFC title games and a new stadium and you can’t sell out? Gotta take a major price reduction!
New Glen Ridge Short Sale just hit the market. 106 Stonehouse (really GR, not Bloomfield) last sold 5/00 for $325k. Almost 11 years of payments, now requires 3rd party approval at $629k.
http://emailrpt.gsmls.com/public/show_public_report_rpt.do?report=clientfull&Id=61696052_30363
Chifi, got a chance to buy this bond at 103. Mets bonds, but a 6.125 coupon, AMT tax free too, what do you think? Was 113 a few months ago.
64971PJM8
Description NEW YORK N Y CITY INDL DEV AGY REV 06.12500% 01/01/2029PILOT REV BDS QUEENSBALLPARK CO LLC QUEENS BASEBALL
Very heavily frowned upon. If I could verify someone was doing it I would give them a zero percent, raise, bonus and LTI. And give 100% of their money to the other folk. A second time if I caught them I would fire them. It is good game theory, but risky.
Schrodinger’s Cat says:
February 1, 2011 at 9:17 am
Is the sharing of compensation information regularly barred in codes of conduct amongst the financial fields? What JJ is seeing is one of the best long term strategies in game theory for maximizing reward while minimizing output.
JJ
If the sharing of that info is not explicitly barred, i wonder if someone would have a viable lawsuit for wrongful termination? If so they could potential make a lot of money off of the lawsuit. Just war gaming it….
JJ [20];
I give them a 15 minute review at goal setting, 15 minute midyear review and a 15 minute year end review.
I was taught to plan ~210 productive workdays a year (weekdays less vacation, holidays, and sick time, etc.), or 1680 hours (@ 8 hour days). Your devoting a whole .75 per year to feedback, or 0.045% (4.5 bps). You probably wouldn’t turn your head to look at 4.5 bps. If your people work harder or longer than that, it only increases the denominator, which makes the number even lower. Based on those numbers, its hardly a need for ego feeding to say you really don’t give a cr@p.
JJ [37];
Have you spoken to a good antitrust attorney?
Cat, #38
Except for one thing. Most state, including NY, are employment at will. An employer can fire you for any reason or no reason, so long as there are no civil rights violations.
But another interesting point – FINRA registered personnel in the securities industry can bring arbitrations for wrongful termination at the SROs because the registration form says that “all” employment disputes are bound to arbitration. There is case law on this, where the firms have tried to argue employment at will, and the courts have said – nope, tough luck, “all” means all. FINRA is not a government agency, it’s a trade org run by the industry. So the industry can’t have it both ways.
I have a 30 minute meeting each week to go over the assignments with each person. I am only talking about big picture stuff.
Anon E. Moose says:
February 1, 2011 at 9:40 am
JJ [20];
I give them a 15 minute review at goal setting, 15 minute midyear review and a 15 minute year end review.
I was taught to plan ~210 productive workdays a year (weekdays less vacation, holidays, and sick time, etc.), or 1680 hours (@ 8 hour days). Your devoting a whole .75 per year to feedback, or 0.045% (4.5 bps). You probably wouldn’t turn your head to look at 4.5 bps. If your people work harder or longer than that, it only increases the denominator, which makes the number even lower. Based on those numbers, its hardly a need for ego feeding to say you really don’t give a cr@p.
Scribe 41
Yes & No. I am not an attorney but i have seen successful lawsuits in my field for “wrongful termination” or whatever it may be called. My understanding is that its not cut and dry and there is a lot of gray area involved.
I love JJ complaining about his staff needing “constant validation and praise.” A certain level of validation and praise (if a job is done well) should be expected.
All this coming from a guy that can’t wait to boast about shoveling his drive-way to anonymous blog readers in a different state. Next time you lecture about the need for validation John, grab a mirror.
That is why you never give a reason for firing someone. It is at will. Also the reason why people’s careers are in limbo. Can’t give real reason in reviews or when you fire them. We had a big fat lady once who was sweaty and walked around in bare feet who did a great job once. Lucky she was a temp. But we had to boil the carpet after she left. She was fired from another company, bet cause was not you are big fat sweaty lady who walks around barefoot, must likely some mumbo jumbo.
Actually I am ok with self validation. Just don’t see need why I have to self validate others, can’t we all just brag about ourselves.
homeboken says:
February 1, 2011 at 9:55 am
I love JJ complaining about his staff needing “constant validation and praise.” A certain level of validation and praise (if a job is done well) should be expected.
All this coming from a guy that can’t wait to boast about shoveling his drive-way to anonymous blog readers in a different state. Next time you lecture about the need for validation John, grab a mirror.
$18K taxes on that short sale in GR. Seems ok if you’re gonna put three or more kids through the school system.
You think I am bad, my wife was at work once and saw my office was messy and printer light was flashing needs paper. She was like don’t you have an intern, I said yep, why doesn’t she file your papers, fill the printer paper, get you coffee. Help clean your office etc. I go they don’t do that anymore, they just sit there and do not much. Expect it to be a learning experience for them.
Another ruling on Ocare
Judge Roger Vinson, a Republican appointee, said that the law’s requirement to carry insurance or pay a fee “is outside Congress’ Commerce Clause power, and it cannot be otherwise authorized by an assertion of power under the Necessary and Proper Clause. It is not constitutional.”
http://online.wsj.com/article/SB10001424052748703439504576116361022463224.html?mod=WSJ_hp_LEFTTopStories
How long before this marches to the Supreme Court?
SL that is the biggest omission from the greatest hits, but worth it for early distant warning, red barchetta, and time stand still with the always under rated Amiee Mann providing back up
JJ,
I think you’ve answered you own question over the years. Your workers are content with their pay and position. You’ve always talked about people who are happy to work in a cube and get X. Well, you got ’em. I’ve had people around me (when I had people report to me) and you know who wants to get ahead or if you don’t have them, then you look for them. Years ago, I had three accountants who couldn’t wait for the time to go and if I left the room at that time, they were all gone when I got back. But there was one guy, a marketing major who we hired to do cash who would get to work at 7am and was willing to work overtime. One year later, I got him to work for me and moved one of my accountants to his postition, One year after that, all of the original three were gone. One year after that, I got him promoted out of my group to a job that got to use more of his personality and some accounting skills. We both left that firm and lost contact but it wouldn’t surprise me if he’s making more than me now.
Nom,
More fodder for the States V Federal conflict?
The judge said he didn’t believe an injunction to stop the health overhaul was appropriate, because it is generally understood that the executive branch will obey a federal court. The government, however, doesn’t believe the ruling requires it to stop implementing the overhaul.
http://online.wsj.com/article/SB10001424052748703439504576116361022463224.html?mod=WSJ_hp_LEFTTopStories
Ayn Randers,
Ayn Rand was not only a schlock novelist, she was also the progenitor of a sweeping “moral philosophy” that justifies the privilege of the wealthy and demonizes not only the slothful, undeserving poor but the lackluster middle-classes as well.
Her books provided wide-ranging parables of “parasites,” “looters” and “moochers” using the levers of government to steal the fruits of her heroes’ labor. In the real world, however, Rand herself received Social Security payments and Medicare benefits under the name of Ann O’Connor (her husband was Frank O’Connor).
As Michael Ford of Xavier University’s Center for the Study of the American Dream wrote, “In the end, Miss Rand was a hypocrite but she could never be faulted for failing to act in her own self-interest.”
So much for principles. Turns out, she was also a bit of a conspiracy theorist, which ultimately caused the illness that turned her into a socialist.
Rand also believed that the scientific consensus on the dangers of tobacco was a hoax. By 1974, the two-pack-a-day smoker, then 69, required surgery for lung cancer. And it was at that moment of vulnerability that she succumbed to the lure of collectivism.
We’re all parasites, moochers, and looters in the end. It’s just that some of us are more principled about it.
http://www.dailykos.com/story/2011/2/1/940197/-Ayn-Rands-secret-socialist-history
But the Obama administration said it has no to plans to halt implementation of the law. Already, it has mailed rebate checks to seniors with high prescription drug costs, helped set up insurance pools for people with pre-existing medical conditions and required insurers to allow children to stay on their parents’ insurance policies until they reach age 26.
if Ocare is struck down at the end of all of this, will this have to be repaid/unwound?
I like those type of people actually, I can’t have everyone nipping at my heels. In the past, meaning 1980s’-1990s you had young people starting out in first job more interested in social life or getting MBA, mothers with kids and older employees riding it out who were core 9-5ers happy to sit in a cube.
Now I see 25-35 year old people who want to work 9-5 in a cube and want to be promoted and get big bonuses. They look at bosses in offices and want that, but don’t realize the boss was working 60 hour work weeks at demanding firms when they were 25-35 to get to that corner office at 45. I am happy with cube dwellers, quality of life is more important than work can be great. Heck I have one staff member whose husband has a big job and she does not want to sit home with kids, work is just an excuse not to watch kids and get a maid. “she is a working women”. It is actually the “man-boys” 25-35 x-box generation who have an attitude. I guess there is no answer.
dan says:
February 1, 2011 at 10:14 am
JJ,
I think you’ve answered you own question over the years. Your workers are content with their pay and position. You’ve always talked about people who are happy to work in a cube and get X. Well, you got ‘em. I’ve had people around me (when I had people report to me) and you know who wants to get ahead or if you don’t have them, then you look for them. Years ago, I had three accountants who couldn’t wait for the time to go and if I left the room at that time, they were all gone when I got back. But there was one guy, a marketing major who we hired to do cash who would get to work at 7am and was willing to work overtime. One year later, I got him to work for me and moved one of my accountants to his postition, One year after that, all of the original three were gone. One year after that, I got him promoted out of my group to a job that got to use more of his personality and some accounting skills. We both left that firm and lost contact but it wouldn’t surprise me if he’s making more than me now.
20. JJ pick up a copy of “Working with Emotional Intelligence”.
From the ruling
JJ,
In this case, I’m not sure you know the question unless you’re just ticked that none of them have a killer instinct or there’s the possbility that you’re not able to observe those that are working harder than the others as well as you could be.
Re: 52 – The Showdown in the Supreme Court was already plannEd. They want to push their agenda by all means necessary since the believe in just causes and not what some old documents say. After all why would someone Like Barry O who
considers himself a constitutional expert and is agraduate of Harvard Law School, who also taught constitutional law at the University of Chicago for 10 years sign this Bill in the first place? They want this showdown in the courts it is the only real protection we have against further socialism and those supposed inalienable protections need to be challenged and removed.
Juice,
Perhaps i have gotten lost in the hyperbole,but it appears that if Ocare is allowed to stand it has the potential to completely redefine the nation in a less then favorable manner.
It would be a radical departure from existing case law to hold that Congress can regulate inactivity under the Commerce Clause. If it has the power to compel an otherwise passive individual into a commercial transaction with a third party merely by asserting — as was done in the Act — that compelling the actual transaction is itself “commercial and economic in nature, and substantially affects interstate commerce” [see Act § 1501(a)(1)], it is not hyperbolizing to suggest that Congress could do almost anything it wanted. It is difficult to imagine that a nation which began, at least in part, as the result of opposition to a British mandate giving the East India Company a monopoly and imposing a nominal tax on all tea sold in America would have set out to create a government with the power to force people to buy tea in the first place. If Congress can penalize a passive individual for failing to engage in commerce, the enumeration of powers in the Constitution would have been in vain for it would be “difficult to perceive any limitation on federal power” [Lopez, supra, 514 U.S. at 564], and we would have a Constitution in name only.
and
(iii) The Purported “Uniqueness” of the Health Care Market
The defendants contend that there are three unique elements of the health care market which, when viewed cumulatively and in combination, belie the claim that the uninsured are inactive. First, as living and breathing human beings who are always susceptible to sudden and unpredictable illness and injury, no one can “opt out” of the health care market. Second, if and when health services aresought, hospitals are required by law to provide care, regardless of inability to pay. And third, if the costs incurred cannot be paid (which they frequently cannot, given the high cost of medical care), they are passed along (cost-shifted) to third parties, which has economic implications for everyone. Congress found that the uninsured received approximately $43 billion in “uncompensated care” in 2008 alone. These three things, according to the defendants and various health care industry experts and scholars on whom they rely, are “replicated in no other market” and defeat the argument that uninsured individuals are inactive.
First, it is not at all clear whether or why the three allegedly unique factors of the health care market are Constitutionally significant. What if only one of the three factors identified by the defendants is present? After all, there are lots of markets — especially if defined broadly enough — that people cannot “opt out” of. For example, everyone must participate in the food market. Instead of attempting to control wheat supply by regulating the acreage and amount of wheat a farmer could grow as in Wickard, under this logic, Congress could more directly raise too-low wheat prices merely by increasing demand through mandating that every adult purchase and consume wheat bread daily, rationalized on the grounds that because everyone must participate in the market for food, non-consumers of wheat bread adversely affect prices in the wheat market. Or, as was discussed during oral argument, Congress could require that people buy and consume broccoli at regular intervals, not only because the required purchases will positively impact interstate commerce, but also because people who eat healthier tend to be healthier, and are thus more productive and put less of a strain on the health care system. Similarly, because virtually no one can be divorced from the transportation market, Congress could require that everyone above a certain income threshold buy a General Motors automobile — now partially government-owned — because those who do not buy GM cars (or those who buy foreign cars) are adversely impacting commerce and a taxpayer-subsidized business.
I pause here to emphasize that the foregoing is not an irrelevant and fanciful “parade of horribles.” Rather, these are some of the serious concerns implicated by the individual mandate that are being discussed and debated by legal scholars. For example, in the course of defending the Constitutionality of the individual mandate, and responding to the same concerns identified above, often-cited law professor and dean of the University of California Irvine School of Law Erwin Chemerinsky has opined that although “what people choose to eat well might be regarded as a personal liberty” (and thus unregulable), “Congress could use its commerce power to require people to buy cars.” See ReasonTV, Wheat, Weed, and Obamacare: How the Commerce Clause Made Congress All-Powerful, August 25, 2010, available at: http://reason.tv/video/show/wheat-weed-a…. When I mentioned this to the defendants’ attorney at oral argument, he allowed for the possibility that “maybe Dean Chemerinsky is right.” See Tr. at 69. Therefore, the potential for this assertion of power has received at least some theoretical consideration and has not been ruled out as Constitutionally implausible.
So what do these people want?
Well without meeting your workforce and making an honest assessment of what is wrong I’m not really sure anyone could answer that question to your satisfaction.
I am 34 years old and work in a professional environment so it would be a close match to that generational divide that your asking to bridge. What motivates me to work harder?
Money, but not so much after I have enough to be comfortable.
Power, yeah but just enough so that I’m not being told what to do all the time.
Fame, I would like to be respected but not as an authority.
If I don’t have the above three things then I’m going to work harder to achieve them but once I have them I’m not motivated at all. So you have a choice here, you can remove one or more of the three things listed to subsistence levels, cut bay below subsistence, treat them like children, or berate them for being nobodies OR you can find other motivators, which I will enumerate.
1. I find that I work harder when people depend on me.
If I am part of a team or unit that gets judged based upon OUR performance as a collective then the others, hopefully friends, then I work hard to not let them down.
2. I find that I work harder when clear and reasonable deadlines are presented.
When work needs to be completed and it has a clear deadline, “the report needs to be finished by Friday”. And when Friday comes and the report isn’t there all hell breaks loose. A “go to the corner moment” and dont come out until your done thinking about why this didn’t get completed. This is doubly effective when the team gets punished because of the actions of one of the members. See point 1.
In general there will always be “excuse makers” because that is how they were raised. Always having some reason why they can’t get something done, they cant make it into work, or they cant achieve the objective. The way to combat this is when you hear a “can’t” excuse then sternly and immediately say something like, “don’t tell me the reasons why you can’t get this completed, I’m not interested in why you can’t get it done. I’m interested in your ideas in “how” to get it done. If you don’t have any ideas then don’t speak to me”. This touches multiple aspects denoted above, fame, power, teamsmanship.
Good luck btw, I have seen many managers get this wrong, repeatedly.
JJ
Can you just can the lowest performer and drive the hell out of the others? Don’t replace the canned one, use the salary as bonus for the remaining employees who show up and bust their backsides.
Between lawsuits and unemployment, too many safety nets. Fear and hunger are great motivators. Like Rendell said, we have become a nation of wussies.
Maybe yor employees need a few weeks at Paris island.
With apologies to Bruce Springsteen, and BC Bob, a bit of parody by one ASCAPper of another :
Here at the NAR were the pretenders
We let it all slip away
In the end what you don’t surrender
Well the market just strips away
There ain’t no kindness in the face of buyers
There are no miracles to make our sales
Well you can wait on tomorrow’s prices
But I got a deal for you right here
I ain’t lookin’ for praise or pity
I ain’t comin’ ’round searchin’ for a crutch
I just want someone I can sell to
And a for Case and Shiller to shut up
And a for Case and Shiller to shut up
Ain’t no mercy on the streets of this town
Ain’t no bread from heavenly skies
Ain’t nobody drawin’ wine from this blood
And there are no buyers tonight
And there are no buyers tonight
Tell me, in a market without pity
Do you think what I’m askin’s too much
I just want something to sell to
And for Case and Shiller to shut up
And for Case and Shiller to shut up
Oh how I crave the feeling of a sales prize
Now it comes at too hard a price
Commissions cut and I’m feeling real pain
As the market spirals down the drain
As the market spirals down the drain
So your broker’s broken and your income’s hurt
Show me a real estate agent who ain’t
Every buyer’s lookin’ for a bargain
With a modern kitchen and no need to paint
And now I really need someone to sell to
Right now my sales, they don’t amount to much
At open houses got no one to talk to
Wish Case and Shiller would just shut up
In a market without pity
Do you think I’m askin’ too much
I just want someone that I can sell to
And for Case and Shiller to shut up
And for Case and Shiller to shut up
A Parody, Copyright © 2011 poster herein known as Shore Guy (ASCAP)
Democrats choose Charlotte, North Carolina, as host city for 2012 Democratic National Convention, source tells CNN.
(27) what’s your email
Ket,
In the interest of the economy, why don’t the Democrats just require everyone to buy a domestic car every three years? Those who do not are not availing themselves of the newest safety features, are freeloading driving an older vehicle, and need to pay a penalty for frugality or buying foreign vehicles.
Great Advice!!!!! Now I don’t have to read the book. It is the same approach I use for potty training.
Nicholas says:
February 1, 2011 at 10:55 am
So what do these people want?
Juice and Cat one of the unintended consequences of Obamacare could be constitutional challenges to SS and Medicare. While the idiot Dems applied the commerce cause inappropriately, and the judge makes a well reasoned and thought out argument on the constitutionality of OCare. You can see he is restrained in his decision, nobody wants to be the precedent that opens up the can of worms on our entitlement programs. Nom and some of the other ambulance chasers : ) on here could probably speak better to it than I could. I am but a humble word processor.
66.Shore Guy says:
February 1, 2011 at 10:59 am
Ket,
In the interest of the economy, why don’t the Democrats just require everyone to buy a domestic car every three years? Those who do not are not availing themselves of the newest safety features, are freeloading driving an older vehicle, and need to pay a penalty for frugality or buying foreign vehicles.
That’s an example of why Vinson ruled mandatory Obamacare is unconstitutional. Forcing the people to buy a specific product is unconstitutional.
“Is the sharing of compensation information regularly barred in codes of conduct amongst the financial fields?”
Ket,
NO EMPLOYER, can prevent employees from sharing compensation information. When employees share information that deals with terms and conditions of work, they are engaging in what the law (Wagner Act as amended) refers to as “protected concerted activity.” Employees, whether unionized or not, are protected, by law, and are allowed to compare wages, etc. They are also protected if they choose to band together (could just be two employees) to confront managment about issues (temperature, wages, whatever) and, if the employer takes any action against them, the employer has just violated federal law. Anyone interested in this topic should consult a qualified Labor and Employment attorney and should not take advice from blog posts.
“That’s an example of why Vinson ruled mandatory Obamacare is unconstitutional.
Forcing the people to buy a specific product is unconstitutional.”But you don’t understand. IT IS GOOD FOR YOU. Oh, the Five Fruits and Vegetables a Day Act will also be good for you. You just can’t grow them yourself or trade with neeighbors; you need to buy them from certain government-approved grocery chains.
Grim,
Is the place in Morris over by Jockey Hollow, perchance?
“you can’t go wrong with pork.”
Nancy? Nancy Pelosi? Is that you?
“So how do I motivate these people”
John,
Fire one of them and tell the rest they will follow if they don’t light a fire under themselves.
Maybe this will wake some of the flag waving idiots up, all of them are conducive to a thriving economy
http://finance.yahoo.com/banking-budgeting/article/111986/10-industries-in-which-the-us-is-no-longer-no-1
Pain 68
i have seen similar commentary, that this could open up a huge can of worms on the commerce clause and a large % of entitlement programs.
John,
As for your own motivation, try this (from CBS News):
http://i.i.com.com/cnwk.1d/i/tim/2011/02/01/96606168_540x405.jpg
Is the place in Morris over by Jockey Hollow, perchance?
Nope
Toast(62),
Post of the day.
Pain,
26 states have challenged Ocare. It is apparently traditionally accepted that the Feds obey the ruling of a federal court but O has decided to ignore this ruling and run ahead with Ocare. Nom’s scenarios of states fighting back is starting to look a little more likely.
At what point do those states tell the Feds to F off and ignore Ocare?
My brother had a guy once he gave zero raise or bonus to for ten years straight. Angry guy who thought everyone was out to get him, did not want to quit as not to give the man satisfaction. HR protected him as he was an older minority. Brother just reassigned work and he sat in a cube 40 hours a week with nothing to do for several years. Finally the whole division got let go and he got let go as they figured no way he could sue for wrongful termination.
Make Money says:
February 1, 2011 at 11:23 am
Toast(62),
Post of the day.
http://www.cbsnews.com/2300-205_162-10006456.html?tag=page
Edison’s predictions of 2011 from an interview in 1911.
Pain
Interesting situation here.
“there is a long-standing presumption “that officials of the Executive Branch will adhere to the law as declared by the court. As a result, the declaratory judgment is the functional equivalent of an injunction.”
So is O essentially violating standing law by ignoring the federal ruling? I would love to see one or more states call out the Feds on this.
http://www.cbsnews.com/8301-503544_162-20030146-503544.html
-From the federal Ruling
jj (20)-
Perhaps they would perform better if they didn’t know that they were performing soul-sucking work that eventually will lead to the destruction of the world’s financial system. I imagine they feel the same way those shoveling bodies into the ovens at Sobibor did (BTW, my MIL did this at Auschwitz for awhile).
“So what do these people want?”
(62)
Between lawsuits and unemployment, too many safety nets. Fear and hunger are great motivators. Like Rendell said, we have become a nation of wussies.
Fear and hunger are great motivators when you’re in the wilderness. In the real world all it does is lead to mediocrity. Fear and hunger go hand in hand with safety and complacency, and in most instances stifle innovation. People that are afraid of losing their jobs do just enough to keep them and rarely much more.
(81) jj – You can’t in one breath say that “you dont care what they do as long as the work gets done” and in another complain about how the work gets done. If you don’t like telecommuting and other methods of working, then ban them.
The frustrations you voice simply reveal your poor management and communication skills.
Cat it is going to be soon. States with large unhappy God and country constituencies are going to go ballistic. Places like here not so much, to many entitlement wards of the state so the local pols will have to walk a very slippery tight rope. See Governer McCheese of NJ for example
the ruling does not rest on “anything like a conventional Constitutional analysis.”
Are their unconventional constitutional analyses?
Pain 87
And the defense’s argument is conventional???
Pain,
<i.States with large unhappy God and country constituencies
More than a few of those on the list
“Joining the coalition in the Florida case were: Iowa, Kansas, Maine, Ohio, Wisconsin and Wyoming.
The other states that are suing are Alabama, Alaska, Arizona, Colorado, Georgia, Indiana, Idaho, Louisiana, Michigan, Mississippi, Nebraska, Nevada, North Dakota, Pennsylvania, South Carolina, South Dakota, Texas, Utah and Washington.”
Pain,
More fun from the ruling
Cat like I said very well thought out ruling on Judge Vinson’s part. Using the supposed constitutional scholars own words against him.
In some regards I think the Dems misread the tea leaves on the thoughts of the American public on the whole health care bill. Collectively they felt we would welcome change based on what was probably polling in the wrong districts. Unfortunately for them, most of the American public are happy with their health care, did not feel the need for fundamental change, were really put off by the bill and how it was rammed down our throats through graft and back door deals.
the idiots in power still don’t get it, Americans as a whole do not like being told what is best for them especially by people who are elected to serve them.
85 Serf
I respectfully disagree. I have seen several times in my life where a business was floundering or a new entity struggling to survive. In these cases, a take no BS and taken no prisoners hard a$$ took over and made the company flourish. In both cases, money was used to motivate and reward while humiliation and fear of termination was used to weed out those that did not come to work every day with their A game.
Pain,
No matter what they hit the brick wall of them needing a large # of younger people to subsidize the exorbitant cost of elderly health care.
I hope it blows up in their face and opens the door to the commerce clause shenanigans. Not holding my breath on that one though.
The other states that are suing are Alabama, Alaska, Arizona, Colorado, Georgia, Indiana, Idaho, Louisiana, Michigan, Mississippi, Nebraska, Nevada, North Dakota, Pennsylvania, South Carolina, South Dakota, Texas, Utah and Washington.”
Funny, our president said the state of the union is strong.
sl/ me@my.other.job (22)
>>I am currently smitten with Rush.
If you haven’t already checked out this Rush documentary, i strongly recommend (trailer here: http://www.youtube.com/watch?v=sk8hbSxY0sE).
Make the state of the union is strong against the health care bill
I own a peace of a car wash and the illegal labor there is more motivated then JJ boiler room operation.
JJ,
Replace an intern with an illegal mexican and pay them $500 per week cash. Dress him up and spend one day showing him how to play with the printer, how you like your coffee, filing system, etc. After a few weeks send him for some Excell training and in a few months he’ll be doing some of the things these lazy MBA guys were draging their feet.
Pain,
look what a bang up job benny is doing at the same time:
Corn spot up 7.76%, wheat up 5.63%, Rice up 10.08%, Hogs up 10.16%, Sugar up 5.64%, Orange Juice up 3.33%, and cotton…. up 17.08%. That’s in one month!
I take it this woman is not at all satisfied with her cell carrier’s customer service text messages:
http://www.leaderpost.com/news/Text+message+blows+suicide+bomber+accident/4172966/story.html
Cuomo really, really, really wants to be president:
http://www.bloomberg.com/news/2011-02-01/cuomo-to-cut-new-york-state-spending-by-8-86-billion-fire-9-800-workers.html
New York Governor Andrew Cuomo proposed cutting local school funding by 7.3 percent and reducing Medicaid spending by almost $3 billion in a budget that seeks to close a $10 billion deficit.
As many as 9,800 workers may be fired under the spending plan for the third most-populous U.S. state, according to Cuomo’s budget documents released today. Aid to 700 school districts, the state’s largest expense, would be cut by $1.5 billion from last year to $19.4 billion in the fiscal year beginning April 1.
Cuomo, a 53-year old Democrat elected in November, said the state needs to break the cycle of “continually spending more money at levels you cannot afford,” as required by laws approved in past years. “More money does not equal better service” in Medicaid or education, he said yesterday.
snip
“The financial plan would reduce New York’s workforce by 11,423 positions, including firing 9,800 workers if unions don’t cooperate in reducing costs. Cuomo isn’t seeking new taxes or borrowing to close the deficit. “
I suspect there will be large numbers of cascading layoffs at the county, municipal, and school-district level if these funding cuts go through. THEN folks will see whether their elected officials are up to the task of making systemic changes or whether they reflexivly close libraries, parks, and every last thing that hurts constituants the most in order to get taxpayers to relent and agree to increase taxes.
Pain
More on Cuomo’s plan:
“The state’s capital plan calls for selling $5.52 billion of bonds next year, down 7.8 percent, and ending the year with $58.1 billion of debt. New York is the third-largest borrower in the municipal bond market, after California and New York City.
“While Cuomo’s budget doesn’t propose selling bonds to narrow the deficit, it does call for the state to issue IOUs paying 5 percent interest to its $132.8 billion pension fund, rather than making contributions in cash. The state will save $635 million next year by reducing the cash payments to $1.67 billion”
Shore 102
Perhaps some rule changes such as elected officials paying 2X the standard tax rate might discourage them. Lead by example., right?
Ket,
But I bet SD could require every resident to carry a weapon if the state provided it free of charge.
Shore 106,
Now that is a tax increase i could get behind. You had best get on the horn to your SD contacts.
Shore,
You would need to include 1 magazine of ammo with that as well.
cuomo should be president and michelle obama should play basketball for rutgers
Perhaps we need to look at a modified version of Saudi justice and remove the trigger finger from anyone who has been convicted of a violent gun crime. One might be able to master using the middle finger for second offense, but, soon, one would think, one would decide to stop committing such offenses. It would be much less expensive than incarceration.
Ammunition Magazine
Is that a Time Life publication?
http://www.latimes.com/business/la-fi-lazarus-20110201,0,639051.column
Capital One dredges up decade-old, charged-off debt
The bank says it was only complying with a new Fed rule when it billed a Hollywood couple for a $2,000 credit card balance it wrote off 10 years ago plus interest — a total of $5,195 snip
250k 95
Thanks! Neil Peart is high up on the list of people I’d love to meet.
sl
#98 Cat,
I reckon Cyclone Yasi is going to make sugar and wheat and rice prices go up too.
http://www.smh.com.au/environment/weather/cyclone-yasi-to-strike-with-winds-of-250kmh-20110201-1acgp.html
Safe,
China will feel the heat of further jumps in rice as will a large % of the world population that uses rice as their staple.
(92)In the environment that you describe, your example and argument is very valid.
However, in many established companies, and with a workforce that has lateral options, it very often backfires. I’m sure JJ knows that his bean counters could really take similar jobs in a multitude of places and that’s why he comes on here with his imaginary diatribes.
The internet is a great place for paper tigers.
I respectfully disagree. I have seen several times in my life where a business was floundering or a new entity struggling to survive. In these cases, a take no BS and taken no prisoners hard a$$ took over and made the company flourish. In both cases, money was used to motivate and reward while humiliation and fear of termination was used to weed out those that did not come to work every day with their A game.
Cat 103 at least the SD legislator knows it is ridiculous. What better way to highlight it though than through a bill that is antithesis of the Democrat soul. Definately a bill I could get behind.
Shore Cuomo = wolf in sheeps clothing. What has he and good old daddy ever done that do not tow the Democrat line. He is a lifer politician vying for survival and a need to fufill his daddy’s unfullfilled goal of the presidency. We will see what kind of stones he has when the NY unions hand him his lunch.
#115 Cat
Just from going to the local Asian grocer over the last 4 years I’ve watched my 20lb bag of rice go from $20 to $23 a bag and shrink to 15 lbs. The 4 lb box of noodles has gone from $4.29 to $6.99. Tofu is up at least 25%. Sauces and green veggies have only gone up a little bit though.
I’ve read blogs and seen pod casts about how angry people are in China about the food inflation. I even saw how some shop keepers in the cities have closed up and gone back to their home villages in the countryside to farm since they think it is an easier way to make a living.
Can’t wait till 2020 so I can add Apple and Google to this list!
Compaq
E.F. HuttonE.F. Hutton
PaineWebberPaineWebber
Merry-Go-round retail storesMerry-Go-Round
MCI WorldComMCI WorldCom
Eastern Airlines
Enron
Woolworth’s
Pan Am AirlinesPan Am
Standard oil station
The Pullman Company
Arthur AndersonArthur
General Foods
TWA
DeLorean Motor
Lionel Corp.
Adelphia
Pets.com
Bear Stearns
Beatrice Food Products
Grim,
Heard of the Feelies. Never listened to them. Sound up my alley. Kind of all over the place with music. My band du jour is Railroad Earth..that is if you like acoustic bluegrass and Americana sound. Crazy that they are from NJ. Another fav is London Soouls. They are true rock and roll ala late 60s Zep. Catch them in NYC sometime.
Safe,
will rice be the spark that ignites the ever flammable Chinese “economic miracle”
Rte 78 seems to have had significant icing problems west of 287 this A.M.
SL [113];
Wish I knew — had an extra seat to Rush at PNC last Sept. I usually catch them whenever they come through (sometimes more than once).
Invitro Meat or Cultured Meat
You do know that scientists are working on ways to produce meat via the laboratory instead of the hoof. Laboratory grown muscle is being worked on as we sit here debating food shortages on the internet. If I were to make a guess we could probably reduce the amount of farm land dedicated to livestock and begin growing our own in the laboratory.
Talk about handy for space exploration too.
http://en.wikipedia.org/wiki/In_vitro_meat
JJ (20):
Buy them all iPods in lieu of their bonuses.
The ice storm is tonight after midnight. This first push was never predicted to be much more than a dusting until last night. The ice will still be coming. Got batteries?
Great article, stylish webpage design and style, keep up the good work
Cat,
This article says non staple food prices increased 31% YOY in China.
http://www.danwei.org/front_page_of_the_day/is_the_age_of_inflation_coming.php
What will another year or 2 at that rate do to the average person’s patience in China?
Local Text Forecast for Key West, FL (33040)
Feb 1 Today
Partly cloudy. High 77F. Winds ESE at 10 to 20 mph.
Feb 1 Tonight
Partly cloudy skies. Low 68F. Winds SE at 10 to 20 mph.
Feb 2 Tomorrow
Partly cloudy. Humid. High 78F. Winds SE at 5 to 10 mph.
Feb 2 Tomorrow night
Partly cloudy skies. Low 66F. Winds ESE at 5 to 10 mph.
Feb 3 Thursday
Times of sun and clouds. Highs in the mid 70s and lows in the mid 60s.
Nicholas
Invitro meat:
The question is energy intensity. At the end of the day does it take more kilojoules to grow 1 Kg of consumable meat in a bioreactor or grow 1 kg of consumable meat on the hoof? It’s a complex question and the answer will probably vary both specially and temporally.
It boils down to a basic energy balance on a known system. Regardless of how you produce the meat you still need the initial energy to run the production, whether that energy takes the form of grain, free range pasture, or KWH of electricity. Invitro meat isnt some free energy process. It will be useful but no panacea to world hunger.
Call me when they figure out how to tap zero point fields and produce net power outputs
#130 – No methane
Getting back to real estate for a sec, anyone care to comment? I’ll start. Its like the back page of a Mad Magazine. If you fold it in, you will see an image of a West Windsor Radio Shack staring back at you.
http://www.trulia.com/property/3012621608-1055-Cherry-Hill-Rd-Princeton-NJ-08540
Beat on the brat….
Barb that place is awful
whats an IPOD?
Libtard says:
February 1, 2011 at 2:41 pm
JJ (20):
Buy them all iPods in lieu of their bonuses.
Rush is okay but give me a band like the Standells any day.
An IPod is a device in a Japanese train station that allows salarymen not to have to go home to sleep.
Painhurtz, a 9,000 sq ft drywall and formaldehyde box.
Perfect song title for those holding out for rising home prices to save them:
Danger heartbreak straight ahead
barb 132,
2.4 M for that??
Ewwww.
sl
Schrodinger’s Cat,
I think your missing the point. It isn’t the just the energy required to produce the same quantity of product. There are other intangibles to consider such as the opportunity cost lost due to having to put aside so much resources to raise meat on the hoof. Acres of land that could be reappropriated for other use, waste products not produced.
Look, your arguments are sound but consider the larger picture if your going to be going into a cost/benefit analysis. Im guessing that in the next 20 years we will start to see these types of products come to market.
123, AEM
:( Rats!
sl
JJ says:
“whats an IPOD?”
Ask one of your under 40s. Hence, why I made the suggestion. This generation goes gaga for gadgets. You would be surprised at how much a $300 iPod works as an incentive. It’s similar to the t-shirt effect. You know those idiots at a basketball/hockey game who would literally step on their fellow fans to ensure they catch one of those $3 cannon-launched t-shirts. This is irregardless of the fact they spent $70 on their tickets for admission. This is how Apple has managed to make 50% of the mobile phone market profits with only 8% of the cell phone market share (with essentially one model). Apple products are simply crack for the Generation Y crowd.
I had a friend who sent a tweet (ask your underlings what this means John) that he would give away his old iPod shuffle ($50 value), for anyone who retweets his message (yup…ask them about that too). This unknown guy got about 100,000 (no exaggeration) to retweet his original message. Man are we far from the days of companies that made millions selling lists.
Nicholas
Im guessing that in the next 20 years we will start to see these types of products come to market.
I agree. I have seen a lot of people ( not necessarily here) jumping all over this like its mana from heaven, an end to world hunger. I have been involved with enough biotech to know that while useful and novel the real tech rarely lives up to the hype.
@132
Ok ok ok.
If you divided the number of square feet by the number of bedrooms you get 1338 square feet per bedroom. I’m in a townhome right now that has 2 bedrooms and 1360 square feet.
This seriously has to be one of the dumbest uses of space. I would rather have a larger yard, a garden, tennis court, pool…etc then to put that much space into a house. Who is going to live in that space?
Perhaps I just will never understand.
@132
Anyone notice that in pictures 7 and 9 that there are tables with seating for 10 people. Two different pictures with different tables with different chairs in different rooms that seat 10 people.
You know because one 10 person table isn’t enough, we need two.
Funny I joke about IPODs. but most people on wall street don’t use them too much.
Why, security reasons. Most firms give free blackberry’s so why pay out of own pocket for IPOD. Also sites like facebook, utube are blocked and twitter does not comply with 17a books and records rules so is blocked. Many firms also give a DR laptop on top of your desk top. Also outside email is blocked on blackberries and company computers. GS employees promoting facebook actually knew little about the service.
I have never used an apple product or been on facebook or twittered. I want to tweet but hard to do as I can’t do it at work or commute as it is blocked and too busy at home.
← High noon at the O.K. Corral
A Squatter’s Market
Posted on February 1, 2011 by grim
From CNBC:
Nearly 11 Percent of US Houses Empty
I usually find the quarterly homeowner vacancy and homeownership report from Census pretty lackluster, but the latest one released this morning was anything but.
America’s home ownership rate, after holding steady for a while, took a pretty big plunge in Q4, from 66.9 percent to 66.5 percent. That’s down from the 2004 peak of 69.2 percent and the lowest level since 1998.
Homeownership is falling at an alarming pace, despite the fact that home prices have fallen, affordability is much improved and inventories of new and existing homes are still running quite high.
Bargains abound, but few are interested or eligible to take advantage.
More concerning than the home ownership rate is the vacancy rate. The Census tables don’t tell the entire story, but they tell a lot of it. Of the nearly 131 million housing units in this country, 112.5 million are occupied. 74.8 million are owned, and that’s only dropped by about 30 thousand in the past year. 38 million are rented, but that’s up by over a million year over year. That means more new households are choosing to rent.
Now to vacancies. There were 18.4 million vacant homes in the U.S. in Q4 ’10 (11 percent of all housing units vacant all year round), which is actually an improvement of 427,000 from a year ago, but not for the reasons you’d think.
The number of vacant homes for rent fell by 493 thousand, as rental demand rose. 471,000 homes are listed as “Held off Market” about half for temporary use, but the other half are likely foreclosures. And no, the shadow inventory isn’t just 200,000, it’s far higher than that.
So think about it. Eleven percent of the houses in America are empty. This as builders start to get more bullish, and renting apartments becomes ever more popular. Vacancies in the apartment sector have been falling steadily and dramatically, why? Because we’re still recovering emotionally from the toll of the housing crash.
This entry was posted in Economics, Housing Bubble, National Real Estate. Bookmark the permalink.
← High noon at the O.K. Corral
146 Responses to A Squatter’s Market
1.
grim says:
February 1, 2011 at 5:37 am
From CNN:
Whose house is being saved by Obama?
More than half a million Americans have received permanent mortgage modifications from the Obama administration’s flagship foreclosure prevention program, the Home Affordable Modification Program.
So who are these homeowners?
To begin with, the reason they are falling behind on their mortgages isn’t because their loans are unaffordable, according to a report released Monday by the Treasury Department.
Instead, defaults are stemming from the weak economy and unemployment: In December, 60% of the borrowers who received permanent HAMP mods were facing a loss of income. Just 11% were the result of unaffordable mortgages.
L.A. and New York City have the largest concentrations of these beneficiaries, and their ethnicity roughly reflects the nation as a whole: 33% of borrowers who received permanent modifications were white, while 12% were African American, 18% are Hispanic and 3% are Asian. (The numbers don’t add up to 100% because many people did not report ethnicity.)
Median household income for them was just $46,000, well short of affluent. Their credit scores averaged about 570 at the time of modification, which would, under today’s lending conditions, prevent them from obtaining loans.
2.
grim says:
February 1, 2011 at 5:41 am
From NASDAQ:
One in Five HAMPs Delinquent Again
Nearly 20 percent of all homeowners who received permanent mortgage loan modifications through HAMP one year ago have fallen behind on their payments again, according to the latest figures from the Treasury Department.
Over 15 percent were already at least 90 days past due on their mortgage, with the others at least 60 days past due, according to the December report on HAMP, the government’s primary anti-foreclosure program. The figures were based on some 50,000 borrowers who obtained permanent HAMP loan modifications in the fourth quarter of 2009.
The figures show that although borrowers who obtain HAMP modifications reduce their monthly mortgage obligation by an average of more than $500 a month, many still are unable to manage the payments and soon fall behind on their payments again.
3.
grim says:
February 1, 2011 at 5:42 am
From the WSJ:
Boom’s Home-Ownership Gains Lost
The meltdown of the U.S. mortgage market and rising foreclosures have wiped out more homeowners than were created in the 2000-07 housing boom, some industry watchers say, the latest indication of the severity of the housing bust.
In the fourth quarter of 2010, 66.5% of Americans owned homes, down from 67.2% a year earlier and the lowest rate since the end of 1998, according the Census Bureau. During the boom, when easy credit made mortgages available with less regard for income or ability to pay, the ownership rate surged to a record 69.2% in 2004′s second and fourth quarters and stayed near that level until the recession deepened.
Some industry watchers expect the rate to slip below 65% as the housing market meltdown forces millions more Americans to give up their homes.
That “shows how big the bubble was and how catastrophic the bursting has been,” said Paul Dales, senior U.S. economist with Capital Economics. “We have pretty much reversed all of the increases in the home-owner rate generated by the housing boom.”
4.
grim says:
February 1, 2011 at 5:44 am
From DealBreaker:
Lenny Dykstra’s Crown Jewel Sold
CNBC reports that Lenny Dykstra’s Sherwood mansion, which he bought from Wayne Gretzky in 2007 and was thrown out of 2008, has been sold to an unnamed buyer for an undisclosed amount (it was sold by Index Investors, the second lienholder, which bought the place out of foreclosure last fall). At this time we’d like to take a walk down memory lane, stopping to remember the high points of Lenny’s history with the manse, which will hopefully be preserved when whoever bought the place does the right thing and turns it into a Dykstra museum.
5.
Mike says:
February 1, 2011 at 5:53 am
Good Morning New Jersey
6.
Mike says:
February 1, 2011 at 6:03 am
The people that have the ability to pay and don’t (strategic default) will become our next round of millionaires. Heard that in Florida the banks are trying to get the courts to Garnish wages.
7.
Mike says:
February 1, 2011 at 6:08 am
Even the millionaires who can afford to pay but they’re not http://www.cbsnews.com/stories/2011/01/30/eveningnews/main7300082.shtml
8.
Mikeinwaiting says:
February 1, 2011 at 7:38 am
Snow day all home, getting ready for shore’s ice storm up here in Vernon. Power loss in the cards, damm it’s cold no power will mean no heat. Will put on Nat’l gas fire place leave on, works by switch but once on it will keep burning. Thing eats gas like a drunkin sailor but what the hell. Twenty five lb turkey to enter oven soon! It is coming down like hells bells, figure we all be here tomorrow also.
9.
me@my.other.job says:
February 1, 2011 at 7:43 am
Mike, 8
Turkey! Nice! Stuff the cavity with onions, apples and one half of an orange along with poultry seasoning.
I love turkey!
sl
sl
10.
Mikeinwaiting says:
February 1, 2011 at 8:10 am
Sl just checked the stores no apples, may brave the storm to get some, also some loose breakfast sausage (local butcher) along with bag stuffing bread is where I’d like to go.
11.
grim says:
February 1, 2011 at 8:16 am
My cooking rule of thumb, you can’t go wrong with pork.
12.
Barbara says:
February 1, 2011 at 8:18 am
Bargins abound? Show me ONE.
13.
grim says:
February 1, 2011 at 8:18 am
Slow going, highways turning into parking lots. Looks like many decided to brave the weather this morning.
14.
Debt Supernova says:
February 1, 2011 at 8:23 am
Vile stench of death in the air today.
15.
Mikeinwaiting says:
February 1, 2011 at 8:28 am
grim 11 for sure.
JJ you at work , you can’t pass up the pork!
16.
Mikeinwaiting says:
February 1, 2011 at 8:29 am
grim, you on the road?
Clot good morning to you to, smells pretty good in my kitchen.
17.
grim says:
February 1, 2011 at 8:39 am
Anyone a fan of the Feelies? Can’t stop listening, Good Earth might be my new favorite album.
18.
Dissident HEHEHE says:
February 1, 2011 at 8:39 am
Check it out, Clot is now leading Brewery Tours:
http://www.youtube.com/watch?v=91DH4lNpniE
http://www.youtube.com/watch?v=ihsXbK-L6lg&feature=related
19.
Juice Box says:
February 1, 2011 at 8:40 am
Going up to 78 in sunny Florida today. Might take a dip in the pool and get some
Vitamin D production going. Suck it NJ.
20.
JJ says:
February 1, 2011 at 8:41 am
OK I am turning over a new leaf. I don’t want to be that cranky old boss who does not understand younger workers.
OK tell me what to do. For the over 40 people, I give them a 15 minute review at goal setting, 15 minute midyear review and a 15 minute year end review. I give them stuff to do and they do it as they know it will hurt their bonus. I really don’t care what they do all day as long as work gets done.
The under 40 crowd seems to think I am managing their career somehow, wants lots of feedback, seems to think I care their wife is sick, their kid is sick, they have childcare issues etc. I even once said to one, lets say you hire a plumber and he is late or can’t make it do you really care. All you want is job done, that is all I care about. Still next day I get nanny is running late.
The under 40 crowd also confuses me as to me boss taking you to lunch, departmental dinner is an honor and morale booster, to them it is like pulling teeth. When home office is in town they won’t even do anything with them unless forced. Even training which to me is a big perk, a flight somewhere and a few nights in a nice hotel seems like a burden, they just want something like a webcam thing, quick and easy. Even more confusing money does not motivate them. The year I gave out big checks their work did not improve. Other thing I noticed they conspire. They share bonus type info and they are less likely to try to take whole pot, rather if post is 100K and there are two AVPs they are content to both dial it in and take 50K each then have one work 70 hours a week and take whole pot of 100K.
So how do I motivate these people. I tried telecommuting, flex time briefly which they wanted but to me it is a huge hassel. I do all the tracking and I don’t know what they are doing and I never know if they are making up the time. Plus they seem to take less interest in work, when I started on wall street I subscibed to wall st journal, watched nightly business report and kept up on everything. They seem to facebook or fantsy football and come to work as it is just a job, not a career, yet they want me to promote them and give them bonuses like it is a career. I don’t understand why it is my job. But I want to change. How do you motivate these 25-35 year old people? The over 40 guys/girls, take them him to a steak dinner once a year, let him go to a conference boondoogle once a year and they work, The younger ones confuse me, my cousin who consults on this stuff, says there are also “lifestyle issues”. I said what do you mean. The younger generation eats healther, drinks less, goes organic, goes to spin classes, facebooks, texts etc. The idea of going to a steak dinner and having a few beers is torture for them. The idea of going to a conference, de-interneting, de-cellphoning, eating conference food, going to heavy dinners, talking to new people and going by yourself is tortue to them. Meanwhile those are things over 40 people want.
So what do these people want?
21.
grim says:
February 1, 2011 at 8:49 am
So what do these people want?
Constant ego stroking and validation.
22.
me@my.other.job says:
February 1, 2011 at 8:53 am
grim, (can you send me a copy? re Feelies)
I am currently smitten with Rush. Greatest hits, Moving Pictures currently on replay for my commute. Still can’t understand why YYZ never made it to the Greatest hits and the Trees did.
sl
23.
Frank says:
February 1, 2011 at 8:54 am
There are many factors for Vacancy Rate. For example:
1) Foreclosure Shadow Inventory: While banks go through the foreclosure process, homes that have been vacated stay empty. Making it worse are governments that force the foreclosure process to go even slower.
2) In NJ, high Taxes also play a key role in Vacancy Rate: If your taxes are high, your monthly payments will be too high, making it a bad financial investment to buy a house. In NJ, government has gotten fat and passed the burden of staying fat onto the taxpayer, through Real Estate Taxes. Take a look at homes that don’t sell (on the MLS or Trulia) and you’ll find that a huge percentage of them have unreasonable Real Estate Taxes. In Union County, it’s not uncommon for homes that cost about $500K to have $12K/year in taxes. Most people will “never” be able to afford the mortgage and the tax payment.
3) Smarter Buyers: The so called American dream to own a home is the Association of Realtors’ dream that they market to Americans. Most potential buyers are starting to realize that you can be happy in a rental, accumulating wealth in a low risk manner. Smart Buyers also realize that things will probably get far worse before they get better, regardless of what anyone is optimistically pitching. The level of “cautiousness” is getting higher by the day.
4) The incentives of owning a home are disappearing. It used to be that owing a home meant a financial advantage. Because of things like high tax rates, you have outside factors that are constantly eating away at those advantages, like leaches.
5) The high unemployment rate keeps many people in the state of being afraid of losing their jobs. Who wants to be strapped to a house if your worry is that your just going to lose it and all of your investments in it.
My Best,
Frank
24.
onthebrink says:
February 1, 2011 at 8:56 am
20 JJ:
Why is telecommuting/flextime such a hassle if you “don’t care what they do all day as long as work gets done.”?
25.
me@my.other.job says:
February 1, 2011 at 8:57 am
Mike, Sausage stuffing is da bomb.
grim, re pork: I made pulled pork and spare ribs last night but didn’t pay enough attention to it. Posted on FB. Next time I’m trying a different recipe.
sl
26.
Mikeinwaiting says:
February 1, 2011 at 9:05 am
JJ Reread your post you know what they want. They just aren’t going to get it. Tough sh*t I say, gotta go with you on this one. You want the cabbage do what you gotta do.
Sl heading out now to store.
27.
grim says:
February 1, 2011 at 9:06 am
Anyone looking for a big place in Morris County in a great school district let me know.
I have a line on an awesome home, albeit non-traditional, at one of the best prices I’ve yet to see in Morris. Home was custom built in the early 80s, but everything was (and still is) top of the line. Asking price is very aggressive, and the replacement cost on this place would likely be at least 100 to 150k higher than ask.
I was seriously considering this place, but the fact is it doesn’t have a great yard (wooded, steep slope), so it just wouldn’t work out. The dogs veto’ed it, even though they’d all have their own bedrooms. That and it might just be too much house for us.
Taxes have already been appealed and substantially reduced.
28.
JJ says:
February 1, 2011 at 9:09 am
Because when they want to do it there is snow, sleet, rain, horrible commute etc. and I find it arrogant that they want to sit home and expect their boss to trudge to work in horrible conditions to cover for them.
Also it is a communication issue. One kid wanted to telecommute when it snowed, I said if buses or trains are running get to work or take a vaction day. So midday I need an update on an outstanding issue for a VIP. I ask kid for update, he goes am on it, then an hour later I ask for status he says I emailed him and he did not respond, I am like well get him on the phone, hour later I go what is status I left a voice mail. Finally I go walk up to his office and get me my update. He does and I get my response. That is why he thinks he can telecommute, cause at work he sits in cube all day, emailing people down the hallway so why not do that from home.
onthebrink says:
February 1, 2011 at 8:56 am
20 JJ:
Why is telecommuting/flextime such a hassle if you “don’t care what they do all day as long as work gets done.”?
29.
Schrodinger’s Cat says:
February 1, 2011 at 9:09 am
Pork chops stuffed with smoked sausage and wrapped in bacon, served with asparagus and fresh homemade bread!!!!
30.
chicagofinance says:
February 1, 2011 at 9:13 am
JJ: lay it out exactly as you did here; you give them the talk once….they continue to fcuk up? them fcuk ‘em….hit them in the paycheck…..also, I experienced sharing comp info among peers……AKA code of conduct violation grounds for reprimand or termination if egregious or chronic….
JJ says:
February 1, 2011 at 8:41 am
OK I am turning over a new leaf. I don’t want to be that cranky old boss who does not understand younger workers.
OK tell me what to do. For the over 40 people, I give them a 15 minute review at goal setting, 15 minute midyear review and a 15 minute year end review. I give them stuff to do and they do it as they know it will hurt their bonus. I really don’t care what they do all day as long as work gets done.
The under 40 crowd seems to think I am managing their career somehow, wants lots of feedback, seems to think I care their wife is sick, their kid is sick, they have childcare issues etc. I even once said to one, lets say you hire a plumber and he is late or can’t make it do you really care. All you want is job done, that is all I care about. Still next day I get nanny is running late.
The under 40 crowd also confuses me as to me boss taking you to lunch, departmental dinner is an honor and morale booster, to them it is like pulling teeth. When home office is in town they won’t even do anything with them unless forced. Even training which to me is a big perk, a flight somewhere and a few nights in a nice hotel seems like a burden, they just want something like a webcam thing, quick and easy. Even more confusing money does not motivate them. The year I gave out big checks their work did not improve. Other thing I noticed they conspire. They share bonus type info and they are less likely to try to take whole pot, rather if post is 100K and there are two AVPs they are content to both dial it in and take 50K each then have one work 70 hours a week and take whole pot of 100K.
So how do I motivate these people. I tried telecommuting, flex time briefly which they wanted but to me it is a huge hassel. I do all the tracking and I don’t know what they are doing and I never know if they are making up the time. Plus they seem to take less interest in work, when I started on wall street I subscibed to wall st journal, watched nightly business report and kept up on everything. They seem to facebook or fantsy football and come to work as it is just a job, not a career, yet they want me to promote them and give them bonuses like it is a career. I don’t understand why it is my job. But I want to change. How do you motivate these 25-35 year old people? The over 40 guys/girls, take them him to a steak dinner once a year, let him go to a conference boondoogle once a year and they work, The younger ones confuse me, my cousin who consults on this stuff, says there are also “lifestyle issues”. I said what do you mean. The younger generation eats healther, drinks less, goes organic, goes to spin classes, facebooks, texts etc. The idea of going to a steak dinner and having a few beers is torture for them. The idea of going to a conference, de-interneting, de-cellphoning, eating conference food, going to heavy dinners, talking to new people and going by yourself is tortue to them. Meanwhile those are things over 40 people want.
So what do these people want?
31.
JJ says:
February 1, 2011 at 9:16 am
Jets fire 30 in sales force
BY Manish Mehta
The Jets eliminated approximately 30 jobs in the sales department last week, team spokesman Bruce Speight confirmed. The organization beefed up its personal seat license sales efforts last year for the opening of the New Meadowlands Stadium with temporary sales positions. The possibility of a lockout this offseason could conceivably make it more difficult to sell additional PSLs for the 2011 season.
The Jets reduced the price of 9,000 personal seat licenses last summer by up to 50% to avoid a blackout of the season opener against the Baltimore Ravens.
The Jets didn’t disclose how many unsold PSLs remain. The team’s current focus is selling club seats.
32.
Schrodinger’s Cat says:
February 1, 2011 at 9:17 am
Is the sharing of compensation information regularly barred in codes of conduct amongst the financial fields? What JJ is seeing is one of the best long term strategies in game theory for maximizing reward while minimizing output.
33.
EJG says:
February 1, 2011 at 9:19 am
Re: Vacancies
Wonder what typical vacancy rate is. Second homes, transfers, dilapidated structures, etc. … account for quite a bit of vacant homes even in better times.
34.
30 year realtor says:
February 1, 2011 at 9:20 am
If the Jets were my seller I would tell them: 2 straight AFC title games and a new stadium and you can’t sell out? Gotta take a major price reduction!
35.
NJGator says:
February 1, 2011 at 9:26 am
New Glen Ridge Short Sale just hit the market. 106 Stonehouse (really GR, not Bloomfield) last sold 5/00 for $325k. Almost 11 years of payments, now requires 3rd party approval at $629k.
http://emailrpt.gsmls.com/public/show_public_report_rpt.do?report=clientfull&Id=61696052_30363
36.
JJ says:
February 1, 2011 at 9:30 am
Chifi, got a chance to buy this bond at 103. Mets bonds, but a 6.125 coupon, AMT tax free too, what do you think? Was 113 a few months ago.
64971PJM8
Description NEW YORK N Y CITY INDL DEV AGY REV 06.12500% 01/01/2029PILOT REV BDS QUEENSBALLPARK CO LLC QUEENS BASEBALL
37.
JJ says:
February 1, 2011 at 9:32 am
Very heavily frowned upon. If I could verify someone was doing it I would give them a zero percent, raise, bonus and LTI. And give 100% of their money to the other folk. A second time if I caught them I would fire them. It is good game theory, but risky.
Schrodinger’s Cat says:
February 1, 2011 at 9:17 am
Is the sharing of compensation information regularly barred in codes of conduct amongst the financial fields? What JJ is seeing is one of the best long term strategies in game theory for maximizing reward while minimizing output.
38.
Schrodinger’s Cat says:
February 1, 2011 at 9:39 am
JJ
If the sharing of that info is not explicitly barred, i wonder if someone would have a viable lawsuit for wrongful termination? If so they could potential make a lot of money off of the lawsuit. Just war gaming it….
39.
Anon E. Moose says:
February 1, 2011 at 9:40 am
JJ [20];
I give them a 15 minute review at goal setting, 15 minute midyear review and a 15 minute year end review.
I was taught to plan ~210 productive workdays a year (weekdays less vacation, holidays, and sick time, etc.), or 1680 hours (@ 8 hour days). Your devoting a whole .75 per year to feedback, or 0.045% (4.5 bps). You probably wouldn’t turn your head to look at 4.5 bps. If your people work harder or longer than that, it only increases the denominator, which makes the number even lower. Based on those numbers, its hardly a need for ego feeding to say you really don’t give a cr@p.
40.
Anon E. Moose says:
February 1, 2011 at 9:42 am
JJ [37];
Have you spoken to a good antitrust attorney?
41.
scribe says:
February 1, 2011 at 9:43 am
Cat, #38
Except for one thing. Most state, including NY, are employment at will. An employer can fire you for any reason or no reason, so long as there are no civil rights violations.
But another interesting point – FINRA registered personnel in the securities industry can bring arbitrations for wrongful termination at the SROs because the registration form says that “all” employment disputes are bound to arbitration. There is case law on this, where the firms have tried to argue employment at will, and the courts have said – nope, tough luck, “all” means all. FINRA is not a government agency, it’s a trade org run by the industry. So the industry can’t have it both ways.
42.
JJ says:
February 1, 2011 at 9:51 am
I have a 30 minute meeting each week to go over the assignments with each person. I am only talking about big picture stuff.
Anon E. Moose says:
February 1, 2011 at 9:40 am
JJ [20];
I give them a 15 minute review at goal setting, 15 minute midyear review and a 15 minute year end review.
I was taught to plan ~210 productive workdays a year (weekdays less vacation, holidays, and sick time, etc.), or 1680 hours (@ 8 hour days). Your devoting a whole .75 per year to feedback, or 0.045% (4.5 bps). You probably wouldn’t turn your head to look at 4.5 bps. If your people work harder or longer than that, it only increases the denominator, which makes the number even lower. Based on those numbers, its hardly a need for ego feeding to say you really don’t give a cr@p.
43.
Schrodinger’s Cat says:
February 1, 2011 at 9:52 am
Scribe 41
Yes & No. I am not an attorney but i have seen successful lawsuits in my field for “wrongful termination” or whatever it may be called. My understanding is that its not cut and dry and there is a lot of gray area involved.
44.
homeboken says:
February 1, 2011 at 9:55 am
I love JJ complaining about his staff needing “constant validation and praise.” A certain level of validation and praise (if a job is done well) should be expected.
All this coming from a guy that can’t wait to boast about shoveling his drive-way to anonymous blog readers in a different state. Next time you lecture about the need for validation John, grab a mirror.
45.
JJ says:
February 1, 2011 at 9:57 am
That is why you never give a reason for firing someone. It is at will. Also the reason why people’s careers are in limbo. Can’t give real reason in reviews or when you fire them. We had a big fat lady once who was sweaty and walked around in bare feet who did a great job once. Lucky she was a temp. But we had to boil the carpet after she left. She was fired from another company, bet cause was not you are big fat sweaty lady who walks around barefoot, must likely some mumbo jumbo.
46.
JJ says:
February 1, 2011 at 9:58 am
Actually I am ok with self validation. Just don’t see need why I have to self validate others, can’t we all just brag about ourselves.
homeboken says:
February 1, 2011 at 9:55 am
I love JJ complaining about his staff needing “constant validation and praise.” A certain level of validation and praise (if a job is done well) should be expected.
All this coming from a guy that can’t wait to boast about shoveling his drive-way to anonymous blog readers in a different state. Next time you lecture about the need for validation John, grab a mirror.
47.
ditto says:
February 1, 2011 at 10:04 am
$18K taxes on that short sale in GR. Seems ok if you’re gonna put three or more kids through the school system.
48.
JJ says:
February 1, 2011 at 10:05 am
You think I am bad, my wife was at work once and saw my office was messy and printer light was flashing needs paper. She was like don’t you have an intern, I said yep, why doesn’t she file your papers, fill the printer paper, get you coffee. Help clean your office etc. I go they don’t do that anymore, they just sit there and do not much. Expect it to be a learning experience for them.
49.
Schrodinger’s Cat says:
February 1, 2011 at 10:06 am
Another ruling on Ocare
Judge Roger Vinson, a Republican appointee, said that the law’s requirement to carry insurance or pay a fee “is outside Congress’ Commerce Clause power, and it cannot be otherwise authorized by an assertion of power under the Necessary and Proper Clause. It is not constitutional.”
http://online.wsj.com/article/SB10001424052748703439504576116361022463224.html?mod=WSJ_hp_LEFTTopStories
How long before this marches to the Supreme Court?
50.
Painhrtz says:
February 1, 2011 at 10:11 am
SL that is the biggest omission from the greatest hits, but worth it for early distant warning, red barchetta, and time stand still with the always under rated Amiee Mann providing back up
51.
dan says:
February 1, 2011 at 10:14 am
JJ,
I think you’ve answered you own question over the years. Your workers are content with their pay and position. You’ve always talked about people who are happy to work in a cube and get X. Well, you got ‘em. I’ve had people around me (when I had people report to me) and you know who wants to get ahead or if you don’t have them, then you look for them. Years ago, I had three accountants who couldn’t wait for the time to go and if I left the room at that time, they were all gone when I got back. But there was one guy, a marketing major who we hired to do cash who would get to work at 7am and was willing to work overtime. One year later, I got him to work for me and moved one of my accountants to his postition, One year after that, all of the original three were gone. One year after that, I got him promoted out of my group to a job that got to use more of his personality and some accounting skills. We both left that firm and lost contact but it wouldn’t surprise me if he’s making more than me now.
52.
Schrodinger’s Cat says:
February 1, 2011 at 10:16 am
Nom,
More fodder for the States V Federal conflict?
The judge said he didn’t believe an injunction to stop the health overhaul was appropriate, because it is generally understood that the executive branch will obey a federal court. The government, however, doesn’t believe the ruling requires it to stop implementing the overhaul.
http://online.wsj.com/article/SB10001424052748703439504576116361022463224.html?mod=WSJ_hp_LEFTTopStories
53.
sas3 says:
February 1, 2011 at 10:17 am
Ayn Randers,
Ayn Rand was not only a schlock novelist, she was also the progenitor of a sweeping “moral philosophy” that justifies the privilege of the wealthy and demonizes not only the slothful, undeserving poor but the lackluster middle-classes as well.
Her books provided wide-ranging parables of “parasites,” “looters” and “moochers” using the levers of government to steal the fruits of her heroes’ labor. In the real world, however, Rand herself received Social Security payments and Medicare benefits under the name of Ann O’Connor (her husband was Frank O’Connor).
As Michael Ford of Xavier University’s Center for the Study of the American Dream wrote, “In the end, Miss Rand was a hypocrite but she could never be faulted for failing to act in her own self-interest.”
So much for principles. Turns out, she was also a bit of a conspiracy theorist, which ultimately caused the illness that turned her into a socialist.
Rand also believed that the scientific consensus on the dangers of tobacco was a hoax. By 1974, the two-pack-a-day smoker, then 69, required surgery for lung cancer. And it was at that moment of vulnerability that she succumbed to the lure of collectivism.
We’re all parasites, moochers, and looters in the end. It’s just that some of us are more principled about it.
http://www.dailykos.com/story/2011/2/1/940197/-Ayn-Rands-secret-socialist-history
54.
Schrodinger’s Cat says:
February 1, 2011 at 10:19 am
But the Obama administration said it has no to plans to halt implementation of the law. Already, it has mailed rebate checks to seniors with high prescription drug costs, helped set up insurance pools for people with pre-existing medical conditions and required insurers to allow children to stay on their parents’ insurance policies until they reach age 26.
if Ocare is struck down at the end of all of this, will this have to be repaid/unwound?
55.
JJ says:
February 1, 2011 at 10:23 am
I like those type of people actually, I can’t have everyone nipping at my heels. In the past, meaning 1980s’-1990s you had young people starting out in first job more interested in social life or getting MBA, mothers with kids and older employees riding it out who were core 9-5ers happy to sit in a cube.
Now I see 25-35 year old people who want to work 9-5 in a cube and want to be promoted and get big bonuses. They look at bosses in offices and want that, but don’t realize the boss was working 60 hour work weeks at demanding firms when they were 25-35 to get to that corner office at 45. I am happy with cube dwellers, quality of life is more important than work can be great. Heck I have one staff member whose husband has a big job and she does not want to sit home with kids, work is just an excuse not to watch kids and get a maid. “she is a working women”. It is actually the “man-boys” 25-35 x-box generation who have an attitude. I guess there is no answer.
dan says:
February 1, 2011 at 10:14 am
JJ,
I think you’ve answered you own question over the years. Your workers are content with their pay and position. You’ve always talked about people who are happy to work in a cube and get X. Well, you got ‘em. I’ve had people around me (when I had people report to me) and you know who wants to get ahead or if you don’t have them, then you look for them. Years ago, I had three accountants who couldn’t wait for the time to go and if I left the room at that time, they were all gone when I got back. But there was one guy, a marketing major who we hired to do cash who would get to work at 7am and was willing to work overtime. One year later, I got him to work for me and moved one of my accountants to his postition, One year after that, all of the original three were gone. One year after that, I got him promoted out of my group to a job that got to use more of his personality and some accounting skills. We both left that firm and lost contact but it wouldn’t surprise me if he’s making more than me now.
56.
Essex says:
February 1, 2011 at 10:25 am
20. JJ pick up a copy of “Working with Emotional Intelligence”.
57.
Schrodinger’s Cat says:
February 1, 2011 at 10:33 am
From the ruling
The defendants contend … that despite the inarguable presence of activity in every Supreme Court case to date, activity is not required under the Commerce Clause. See Def. Mem. at 31 (maintaining that “there is no ‘activity’ clause in the constitution”). In fact, they go so far as to suggest that to impose such a requirement would be bold and radical. According to the defendants, because the Supreme Court has never identified a distinction between activity and inactivity as a limitation on Congress’ commerce power, to hold otherwise would “break new legal ground” and be “novel” and unprecedented.” See Def. Opp. at 1, 2, 16. First, it is interesting that the defendants — apparently believing the best defense is a good offense — would use the words “novel” and “unprecedented” since, as previously noted, those are the exact same words that the CRS and CBO used to describe the individual mandate before it became law. Furthermore, there is a simple and rather obvious reason why the Supreme Court has never distinguished between activity and inactivity before: it has not been called upon to consider the issue because, until now, Congress had never attempted to exercise its Commerce Clause power in such a way before. See CBO Analysis (advising Congress during the previous health care reform efforts in 1994 that “[t]he government has never required people to buy any good or service as a condition of lawful residence in the United States.”). In every Supreme Court case decided thus far, Congress was not seeking to regulate under its commerce power something that could even arguably be said to be “passive inactivity.”
It would be a radical departure from existing case law to hold that Congress can regulate inactivity under the Commerce Clause. If it has the power to compel an otherwise passive individual into a commercial transaction with a third party merely by asserting — as was done in the Act — that compelling the actual transaction is itself “commercial and economic in nature, and substantially affects interstate commerce” [see Act § 1501(a)(1)], it is not hyperbolizing to suggest that Congress could do almost anything it wanted. It is difficult to imagine that a nation which began, at least in part, as the result of opposition to a British mandate giving the East India Company a monopoly and imposing a nominal tax on all tea sold in America would have set out to create a government with the power to force people to buy tea in the first place. If Congress can penalize a passive individual for failing to engage in commerce, the enumeration of powers in the Constitution would have been in vain for it would be “difficult to perceive any limitation on federal power” [Lopez, supra, 514 U.S. at 564], and we would have a Constitution in name only
58.
dan says:
February 1, 2011 at 10:42 am
JJ,
In this case, I’m not sure you know the question unless you’re just ticked that none of them have a killer instinct or there’s the possbility that you’re not able to observe those that are working harder than the others as well as you could be.
59.
Juice Box says:
February 1, 2011 at 10:44 am
Re: 52 – The Showdown in the Supreme Court was already plannEd. They want to push their agenda by all means necessary since the believe in just causes and not what some old documents say. After all why would someone Like Barry O who
considers himself a constitutional expert and is agraduate of Harvard Law School, who also taught constitutional law at the University of Chicago for 10 years sign this Bill in the first place? They want this showdown in the courts it is the only real protection we have against further socialism and those supposed inalienable protections need to be challenged and removed.
60.
Schrodinger’s Cat says:
February 1, 2011 at 10:52 am
Juice,
Perhaps i have gotten lost in the hyperbole,but it appears that if Ocare is allowed to stand it has the potential to completely redefine the nation in a less then favorable manner.
It would be a radical departure from existing case law to hold that Congress can regulate inactivity under the Commerce Clause. If it has the power to compel an otherwise passive individual into a commercial transaction with a third party merely by asserting — as was done in the Act — that compelling the actual transaction is itself “commercial and economic in nature, and substantially affects interstate commerce” [see Act § 1501(a)(1)], it is not hyperbolizing to suggest that Congress could do almost anything it wanted. It is difficult to imagine that a nation which began, at least in part, as the result of opposition to a British mandate giving the East India Company a monopoly and imposing a nominal tax on all tea sold in America would have set out to create a government with the power to force people to buy tea in the first place. If Congress can penalize a passive individual for failing to engage in commerce, the enumeration of powers in the Constitution would have been in vain for it would be “difficult to perceive any limitation on federal power” [Lopez, supra, 514 U.S. at 564], and we would have a Constitution in name only.
and
(iii) The Purported “Uniqueness” of the Health Care Market
The defendants contend that there are three unique elements of the health care market which, when viewed cumulatively and in combination, belie the claim that the uninsured are inactive. First, as living and breathing human beings who are always susceptible to sudden and unpredictable illness and injury, no one can “opt out” of the health care market. Second, if and when health services aresought, hospitals are required by law to provide care, regardless of inability to pay. And third, if the costs incurred cannot be paid (which they frequently cannot, given the high cost of medical care), they are passed along (cost-shifted) to third parties, which has economic implications for everyone. Congress found that the uninsured received approximately $43 billion in “uncompensated care” in 2008 alone. These three things, according to the defendants and various health care industry experts and scholars on whom they rely, are “replicated in no other market” and defeat the argument that uninsured individuals are inactive.
First, it is not at all clear whether or why the three allegedly unique factors of the health care market are Constitutionally significant. What if only one of the three factors identified by the defendants is present? After all, there are lots of markets — especially if defined broadly enough — that people cannot “opt out” of. For example, everyone must participate in the food market. Instead of attempting to control wheat supply by regulating the acreage and amount of wheat a farmer could grow as in Wickard, under this logic, Congress could more directly raise too-low wheat prices merely by increasing demand through mandating that every adult purchase and consume wheat bread daily, rationalized on the grounds that because everyone must participate in the market for food, non-consumers of wheat bread adversely affect prices in the wheat market. Or, as was discussed during oral argument, Congress could require that people buy and consume broccoli at regular intervals, not only because the required purchases will positively impact interstate commerce, but also because people who eat healthier tend to be healthier, and are thus more productive and put less of a strain on the health care system. Similarly, because virtually no one can be divorced from the transportation market, Congress could require that everyone above a certain income threshold buy a General Motors automobile — now partially government-owned — because those who do not buy GM cars (or those who buy foreign cars) are adversely impacting commerce and a taxpayer-subsidized business.
I pause here to emphasize that the foregoing is not an irrelevant and fanciful “parade of horribles.” Rather, these are some of the serious concerns implicated by the individual mandate that are being discussed and debated by legal scholars. For example, in the course of defending the Constitutionality of the individual mandate, and responding to the same concerns identified above, often-cited law professor and dean of the University of California Irvine School of Law Erwin Chemerinsky has opined that although “what people choose to eat well might be regarded as a personal liberty” (and thus unregulable), “Congress could use its commerce power to require people to buy cars.” See ReasonTV, Wheat, Weed, and Obamacare: How the Commerce Clause Made Congress All-Powerful, August 25, 2010, available at: http://reason.tv/video/show/wheat-weed-a…. When I mentioned this to the defendants’ attorney at oral argument, he allowed for the possibility that “maybe Dean Chemerinsky is right.” See Tr. at 69. Therefore, the potential for this assertion of power has received at least some theoretical consideration and has not been ruled out as Constitutionally implausible.
61.
Nicholas says:
February 1, 2011 at 10:55 am
So what do these people want?
Well without meeting your workforce and making an honest assessment of what is wrong I’m not really sure anyone could answer that question to your satisfaction.
I am 34 years old and work in a professional environment so it would be a close match to that generational divide that your asking to bridge. What motivates me to work harder?
Money, but not so much after I have enough to be comfortable.
Power, yeah but just enough so that I’m not being told what to do all the time.
Fame, I would like to be respected but not as an authority.
If I don’t have the above three things then I’m going to work harder to achieve them but once I have them I’m not motivated at all. So you have a choice here, you can remove one or more of the three things listed to subsistence levels, cut bay below subsistence, treat them like children, or berate them for being nobodies OR you can find other motivators, which I will enumerate.
1. I find that I work harder when people depend on me.
If I am part of a team or unit that gets judged based upon OUR performance as a collective then the others, hopefully friends, then I work hard to not let them down.
2. I find that I work harder when clear and reasonable deadlines are presented.
When work needs to be completed and it has a clear deadline, “the report needs to be finished by Friday”. And when Friday comes and the report isn’t there all hell breaks loose. A “go to the corner moment” and dont come out until your done thinking about why this didn’t get completed. This is doubly effective when the team gets punished because of the actions of one of the members. See point 1.
In general there will always be “excuse makers” because that is how they were raised. Always having some reason why they can’t get something done, they cant make it into work, or they cant achieve the objective. The way to combat this is when you hear a “can’t” excuse then sternly and immediately say something like, “don’t tell me the reasons why you can’t get this completed, I’m not interested in why you can’t get it done. I’m interested in your ideas in “how” to get it done. If you don’t have any ideas then don’t speak to me”. This touches multiple aspects denoted above, fame, power, teamsmanship.
Good luck btw, I have seen many managers get this wrong, repeatedly.
62.
NJToast says:
February 1, 2011 at 10:55 am
JJ
Can you just can the lowest performer and drive the hell out of the others? Don’t replace the canned one, use the salary as bonus for the remaining employees who show up and bust their backsides.
Between lawsuits and unemployment, too many safety nets. Fear and hunger are great motivators. Like Rendell said, we have become a nation of wussies.
Maybe yor employees need a few weeks at Paris island.
63.
Shore Guy says:
February 1, 2011 at 10:55 am
With apologies to Bruce Springsteen, and BC Bob, a bit of parody by one ASCAPper of another :
Here at the NAR were the pretenders
We let it all slip away
In the end what you don’t surrender
Well the market just strips away
There ain’t no kindness in the face of buyers
There are no miracles to make our sales
Well you can wait on tomorrow’s prices
But I got a deal for you right here
I ain’t lookin’ for praise or pity
I ain’t comin’ ’round searchin’ for a crutch
I just want someone I can sell to
And a for Case and Shiller to shut up
And a for Case and Shiller to shut up
Ain’t no mercy on the streets of this town
Ain’t no bread from heavenly skies
Ain’t nobody drawin’ wine from this blood
And there are no buyers tonight
And there are no buyers tonight
Tell me, in a market without pity
Do you think what I’m askin’s too much
I just want something to sell to
And for Case and Shiller to shut up
And for Case and Shiller to shut up
Oh how I crave the feeling of a sales prize
Now it comes at too hard a price
Commissions cut and I’m feeling real pain
As the market spirals down the drain
As the market spirals down the drain
So your broker’s broken and your income’s hurt
Show me a real estate agent who ain’t
Every buyer’s lookin’ for a bargain
With a modern kitchen and no need to paint
And now I really need someone to sell to
Right now my sales, they don’t amount to much
At open houses got no one to talk to
Wish Case and Shiller would just shut up
In a market without pity
Do you think I’m askin’ too much
I just want someone that I can sell to
And for Case and Shiller to shut up
And for Case and Shiller to shut up
A Parody, Copyright © 2011 poster herein known as Shore Guy (ASCAP)
64.
Shore Guy says:
February 1, 2011 at 10:56 am
Democrats choose Charlotte, North Carolina, as host city for 2012 Democratic National Convention, source tells CNN.
65.
joyce says:
February 1, 2011 at 10:57 am
(27) what’s your email
66.
Shore Guy says:
February 1, 2011 at 10:59 am
Ket,
In the interest of the economy, why don’t the Democrats just require everyone to buy a domestic car every three years? Those who do not are not availing themselves of the newest safety features, are freeloading driving an older vehicle, and need to pay a penalty for frugality or buying foreign vehicles.
67.
JJ says:
February 1, 2011 at 11:05 am
Great Advice!!!!! Now I don’t have to read the book. It is the same approach I use for potty training.
Nicholas says:
February 1, 2011 at 10:55 am
So what do these people want?
68.
Painhrtz says:
February 1, 2011 at 11:06 am
Juice and Cat one of the unintended consequences of Obamacare could be constitutional challenges to SS and Medicare. While the idiot Dems applied the commerce cause inappropriately, and the judge makes a well reasoned and thought out argument on the constitutionality of OCare. You can see he is restrained in his decision, nobody wants to be the precedent that opens up the can of worms on our entitlement programs. Nom and some of the other ambulance chasers : ) on here could probably speak better to it than I could. I am but a humble word processor.
69.
Confused In NJ says:
February 1, 2011 at 11:07 am
66.Shore Guy says:
February 1, 2011 at 10:59 am
Ket,
In the interest of the economy, why don’t the Democrats just require everyone to buy a domestic car every three years? Those who do not are not availing themselves of the newest safety features, are freeloading driving an older vehicle, and need to pay a penalty for frugality or buying foreign vehicles.
That’s an example of why Vinson ruled mandatory Obamacare is unconstitutional. Forcing the people to buy a specific product is unconstitutional.
70.
Shore Guy says:
February 1, 2011 at 11:07 am
“Is the sharing of compensation information regularly barred in codes of conduct amongst the financial fields?”
Ket,
NO EMPLOYER, can prevent employees from sharing compensation information. When employees share information that deals with terms and conditions of work, they are engaging in what the law (Wagner Act as amended) refers to as “protected concerted activity.” Employees, whether unionized or not, are protected, by law, and are allowed to compare wages, etc. They are also protected if they choose to band together (could just be two employees) to confront managment about issues (temperature, wages, whatever) and, if the employer takes any action against them, the employer has just violated federal law. Anyone interested in this topic should consult a qualified Labor and Employment attorney and should not take advice from blog posts.
71.
Shore Guy says:
February 1, 2011 at 11:10 am
“That’s an example of why Vinson ruled mandatory Obamacare is unconstitutional.
Forcing the people to buy a specific product is unconstitutional.”But you don’t understand. IT IS GOOD FOR YOU. Oh, the Five Fruits and Vegetables a Day Act will also be good for you. You just can’t grow them yourself or trade with neeighbors; you need to buy them from certain government-approved grocery chains.
72.
Shore Guy says:
February 1, 2011 at 11:18 am
Grim,
Is the place in Morris over by Jockey Hollow, perchance?
73.
Shore Guy says:
February 1, 2011 at 11:18 am
“you can’t go wrong with pork.”
Nancy? Nancy Pelosi? Is that you?
74.
Shore Guy says:
February 1, 2011 at 11:20 am
“So how do I motivate these people”
John,
Fire one of them and tell the rest they will follow if they don’t light a fire under themselves.
75.
Painhrtz says:
February 1, 2011 at 11:20 am
Maybe this will wake some of the flag waving idiots up, all of them are conducive to a thriving economy
http://finance.yahoo.com/banking-budgeting/article/111986/10-industries-in-which-the-us-is-no-longer-no-1
76.
Schrodinger’s Cat says:
February 1, 2011 at 11:22 am
Pain 68
i have seen similar commentary, that this could open up a huge can of worms on the commerce clause and a large % of entitlement programs.
77.
Shore Guy says:
February 1, 2011 at 11:22 am
John,
As for your own motivation, try this (from CBS News):
http://i.i.com.com/cnwk.1d/i/tim/2011/02/01/96606168_540x405.jpg
78.
grim says:
February 1, 2011 at 11:22 am
Is the place in Morris over by Jockey Hollow, perchance?
Nope
79.
Make Money says:
February 1, 2011 at 11:23 am
Toast(62),
Post of the day.
80.
Schrodinger’s Cat says:
February 1, 2011 at 11:26 am
Pain,
26 states have challenged Ocare. It is apparently traditionally accepted that the Feds obey the ruling of a federal court but O has decided to ignore this ruling and run ahead with Ocare. Nom’s scenarios of states fighting back is starting to look a little more likely.
At what point do those states tell the Feds to F off and ignore Ocare?
81.
JJ says:
February 1, 2011 at 11:26 am
My brother had a guy once he gave zero raise or bonus to for ten years straight. Angry guy who thought everyone was out to get him, did not want to quit as not to give the man satisfaction. HR protected him as he was an older minority. Brother just reassigned work and he sat in a cube 40 hours a week with nothing to do for several years. Finally the whole division got let go and he got let go as they figured no way he could sue for wrongful termination.
Make Money says:
February 1, 2011 at 11:23 am
Toast(62),
Post of the day.
82.
Shore Guy says:
February 1, 2011 at 11:29 am
http://www.cbsnews.com/2300-205_162-10006456.html?tag=page
Edison’s predictions of 2011 from an interview in 1911.
83.
Schrodinger’s Cat says:
February 1, 2011 at 11:35 am
Pain
Interesting situation here.
“there is a long-standing presumption “that officials of the Executive Branch will adhere to the law as declared by the court. As a result, the declaratory judgment is the functional equivalent of an injunction.”
So is O essentially violating standing law by ignoring the federal ruling? I would love to see one or more states call out the Feds on this.
The White House officials said that the ruling would not have an impact on implementation of the law, which is being phased in gradually. (The individual mandate, for example, does not begin until 2014.) They said that states cannot use the ruling as a basis to delay implementation in part because the ruling does not rest on “anything like a conventional Constitutional analysis.” Twenty-six states were involved in the lawsuit.
http://www.cbsnews.com/8301-503544_162-20030146-503544.html
The last issue to be resolved is the plaintiffs’ request for injunctive relief enjoining implementation of the Act, which can be disposed of very quickly. Injunctive relief is an “extraordinary” [Weinberger v. Romero-Barcelo, 456 U.S. 305, 312, 102 S. Ct. 1798, 72 L. Ed. 2d 91 (1982)], and “drastic” remedy [Aaron v. S.E.C., 446 U.S. 680, 703, 100 S. Ct. 1945, 64 L. Ed. 2d 611 (1980) (Burger, J., concurring)]. It is even more so when the party to be enjoined is the federal government, for there is a long-standing presumption “that officials of the Executive Branch will adhere to the law as declared by the court. As a result, the declaratory judgment is the functional equivalent of an injunction.” See Comm. on Judiciary of U.S. House of Representatives v. Miers, 542 F.3d 909, 911 (D.C. Cir. 2008); accord Sanchez-Espinoza v. Reagan, 770 F.2d 202, 208 n.8 (D.C. Cir. 1985) (“declaratory judgment is, in a context such as this where federal officers are defendants, the practical equivalent of specific relief such as an injunction . . . since it must be presumed that federal officers will adhere to the law as declared by the court”) (Scalia, J.)
-From the federal Ruling
84.
Debt Supernova says:
February 1, 2011 at 11:38 am
jj (20)-
Perhaps they would perform better if they didn’t know that they were performing soul-sucking work that eventually will lead to the destruction of the world’s financial system. I imagine they feel the same way those shoveling bodies into the ovens at Sobibor did (BTW, my MIL did this at Auschwitz for awhile).
“So what do these people want?”
85.
NJSerf says:
February 1, 2011 at 11:39 am
(62)
Between lawsuits and unemployment, too many safety nets. Fear and hunger are great motivators. Like Rendell said, we have become a nation of wussies.
Fear and hunger are great motivators when you’re in the wilderness. In the real world all it does is lead to mediocrity. Fear and hunger go hand in hand with safety and complacency, and in most instances stifle innovation. People that are afraid of losing their jobs do just enough to keep them and rarely much more.
(81) jj – You can’t in one breath say that “you dont care what they do as long as the work gets done” and in another complain about how the work gets done. If you don’t like telecommuting and other methods of working, then ban them.
The frustrations you voice simply reveal your poor management and communication skills.
86.
Painhrtz says:
February 1, 2011 at 11:41 am
Cat it is going to be soon. States with large unhappy God and country constituencies are going to go ballistic. Places like here not so much, to many entitlement wards of the state so the local pols will have to walk a very slippery tight rope. See Governer McCheese of NJ for example
87.
Painhrtz says:
February 1, 2011 at 11:44 am
the ruling does not rest on “anything like a conventional Constitutional analysis.”
Are their unconventional constitutional analyses?
88.
Schrodinger’s Cat says:
February 1, 2011 at 11:50 am
Pain 87
And the defense’s argument is conventional???
89.
Schrodinger’s Cat says:
February 1, 2011 at 11:57 am
Pain,
>I am currently smitten with Rush.
If you haven’t already checked out this Rush documentary, i strongly recommend (trailer here: http://www.youtube.com/watch?v=sk8hbSxY0sE).
96.
Painhrtz says:
February 1, 2011 at 12:52 pm
Make the state of the union is strong against the health care bill
97.
make money says:
February 1, 2011 at 12:57 pm
I own a peace of a car wash and the illegal labor there is more motivated then JJ boiler room operation.
JJ,
Replace an intern with an illegal mexican and pay them $500 per week cash. Dress him up and spend one day showing him how to play with the printer, how you like your coffee, filing system, etc. After a few weeks send him for some Excell training and in a few months he’ll be doing some of the things these lazy MBA guys were draging their feet.
98.
Schrodinger’s Cat says:
February 1, 2011 at 12:58 pm
Pain,
look what a bang up job benny is doing at the same time:
Corn spot up 7.76%, wheat up 5.63%, Rice up 10.08%, Hogs up 10.16%, Sugar up 5.64%, Orange Juice up 3.33%, and cotton…. up 17.08%. That’s in one month!
99.
Shore Guy says:
February 1, 2011 at 1:03 pm
I take it this woman is not at all satisfied with her cell carrier’s customer service text messages:
http://www.leaderpost.com/news/Text+message+blows+suicide+bomber+accident/4172966/story.html
100.
Shore Guy says:
February 1, 2011 at 1:08 pm
Cuomo really, really, really wants to be president:
http://www.bloomberg.com/news/2011-02-01/cuomo-to-cut-new-york-state-spending-by-8-86-billion-fire-9-800-workers.html
New York Governor Andrew Cuomo proposed cutting local school funding by 7.3 percent and reducing Medicaid spending by almost $3 billion in a budget that seeks to close a $10 billion deficit.
As many as 9,800 workers may be fired under the spending plan for the third most-populous U.S. state, according to Cuomo’s budget documents released today. Aid to 700 school districts, the state’s largest expense, would be cut by $1.5 billion from last year to $19.4 billion in the fiscal year beginning April 1.
Cuomo, a 53-year old Democrat elected in November, said the state needs to break the cycle of “continually spending more money at levels you cannot afford,” as required by laws approved in past ye
146. Its like someone got the extra big Lego set and just didn’t know when to stop…
Nicholas,
Their dining room table is longer than yours.
#103 Kennesaw, Georgia has had an ordinance requiring householders to own a firearm and ammo since 1982.
Barb [132],
How much of that price paid for the Princeton address? That’s not Princeton. The place is west of Rocky Hill.
And you have to work pretty hard to make the place look like it squats in an untreed wasteland, when satellite photos show the lot is mostly wooded. Where’s the circular drive? What blind man did they hire to build that fugly deck in the back? Do I really want that trampoline for the kids?
Finally, no one ever lived in that house, did they? The whole thing looks staged.
We thought Jon Hilsenrath would break the news of QE3. To our shock, it comes from the only sensible man at the Fed, Kansas Fed’s Tom Hoenig. Per Reuters: “The Federal Reserve could debate extending its bond-buying program beyond June if U.S. economic data prove weaker than policymakers expect, Kansas City Fed President Thomas Hoenig said. Another round of bond buying “may get discussed” if the numbers look “disappointing,” Hoenig told Market News International in an interview published on Tuesday.”
Is QE3 priced in?
At $28k in taxes, won’t you have to burn one of the tables in the fireplace to afford the heat? Oh wait, it’s near a train station so at $2.4 mill, it’s a steal……
QE 4 is priced in.
http://blogs.wsj.com/deals/2011/01/31/rothschilds-buy-majority-stake-in-weather-central/
If we need data to support our global warming theory we can always ask Rothchild to skew it. If this snow keeps persisting, he’ll end up buing reuters, AP, TV, etc…sorry he already owns them.
http://mobile.nj.com/advnj/pm_29221/contentdetail.htm;jsessionid=1B2C224604337D5FE319764AC1F95680?contentguid=lqmTQkX1
Ice storm info
NAR’s new theme song:
Ain’t Too Proud to Beg
155.Shore Guy says:
February 1, 2011 at 5:35 pm
http://mobile.nj.com/advnj/pm_29221/contentdetail.htm;jsessionid=1B2C224604337D5FE319764AC1F95680?contentguid=lqmTQkX1
Ice storm info
Nothing you can do to prepare for Heavy Freezing Rain. Just pray you don’t loose power. If this turns out to be a common occurence in the future, buy a Generac 17K Natural Gas Power Station with automatic transfer switch.
Batteries and food one can cook on the grill.
Madoff-Hit Mets Seek Cash
Pummeled by the Ponzi Scheme, Baseball Team Hopes to Sell Piece by June
By MATTHEW FUTTERMAN, MICHAEL ROTHFELD And CHAD BRAY
The New York Mets hope to complete the sale of up to a 25% stake by the end of June, according to person involved with the planned transaction, as the baseball team seeks funds to make up for a potential settlement related to investments with fraud figure Bernard Madoff.
Mets owners Fred Wilpon and Saul Katz met with Major League Baseball Commissioner Bud Selig and his lieutenants Tuesday in what was described as an effort to update Major League Baseball on the Mets’ financial problems and the owners’ plans to sell a minority stake in the team, which they revealed Friday.
They discussed the Mets owners’ exposure from a lawsuit by the court-appointed trustee gathering assets for victims of Mr. Madoff’s Ponzi scheme, according to people with knowledge of the meeting. The people described the meeting as “cordial,” noting that Messrs. Wilpon and Selig are longtime friends. Afterward, the men attended a benefit lunch at New York’s ’21’ Club.
While teams operate independently, Major League Baseball must approve all major financial transactions, including loans and sales of any portion of a team.
Mets spokesman Jay Horowitz confirmed the meeting took place but declined further comment.
Mr. Wilpon has long said that he was victimized by his longtime friend Mr. Madoff, but it is now clear that his exposure is far greater than he has previously revealed both publicly, as well as to officials with Major League Baseball, according to people familiar with the league.
The lawsuit by the trustee, Irving Picard, is seeking to recover money from nearly 100 individuals, family foundations or entities associated with Sterling Equities, Mr. Wilpon’s real-estate firm, including other limited partnerships associated with the Mets.
An October 2009 court filing by Mr. Picard indicated that the Sterling Equities-related exposure was about $47.8 million in Madoff-related profits.
But that only reflected activity for two accounts associated with the Mets. A person familiar with the matter said that Mr. Picard is now seeking more than $300 million that he says represents profits that all the Sterling-related entities and people associated with the team withdrew from Mr. Madoff’s firm.
On top of that, the trustee is also seeking to recover some of their principal investment with Mr. Madoff, alleging they knew or should have known the business was fraudulent, this person said.
Lawyers for Mr. Wilpon and his associates acknowledged in a court filing late Monday that the December lawsuit by Mr. Picard had accused them of overlooking signs that Mr. Madoff was running a Ponzi scheme.
The lawyers called the accusations “baseless,” in court papers late Monday.
Mr. Wilpon steadily increased the level of debt he has placed against the team since he took full control of the franchise in 2002 by buying out his longtime partner, Nelson Doubleday. Mr. Wilpon completed that transaction with a $137.5 million loan he secured using 100% of the team.
That loan has been refinanced at least twice, and the team is now carrying about $400 million in debt. The Wilpons needed to conduct the refinancing last year in part because Mr. Wilpon had a number of loans secured with money that had been invested with Mr. Madoff. When those accounts disappeared, the loans connected to them had to be refinanced with new collateral, according to two baseball executives.
For years the Mets used Mr. Madoff’s firm as a virtual bank account, depositing everything from ticket revenues to deferred compensation for players and employees’ 401(k) money with the firm, according to a person familiar with the team’s finances.
Mr. Picard’s suit was filed under seal, a status that some news organizations have challenged. Late Monday, lawyers for Mr. Wilpon said that extending the seal could improve chances of a settlement.
Lawyers for Mr. Picard have said they disagreed with the “blanket” assertion of confidentiality for the entire contents of the lawsuit. At the same time, Mr. Picard’s treatment of Mr. Wilpon and his associates has been more gentle than his handling of almost any other lawsuit he has filed to recover money in the Madoff affair.
Most of the lawsuits are public, and in sealing others, Mr. Picard in general still has revealed the amounts of his claims or details about his allegations in a news release. His office cited “good-faith negotiations” as the reason for declining to do so in the case of Mr. Wilpon. Lawyers familiar with bankruptcy proceedings said that is not a legal basis for cloaking a lawsuit in secrecy.
“Bankruptcy proceedings are supposed to be open proceedings where business is conducted in the sunlight,” said Michael Goldberg, a Fort Lauderdale, Fla., attorney who has worked as a receiver in liquidation cases. Mr. Goldberg said Mr. Picard appears to be “giving deference to the Wilpons” to boost the chances of settlement.
An attorney for Mr. Picard didn’t respond to a request for comment.
From Twice:
Sixth Ave. Closing Philly Stores, Two Others
Sixth Avenue Electronics is closing its three Philadelphia area stores tonight and will gradually phase out two New Jersey locations.
The Philadelphia stores are in Wilmington, Del.; Langhorne, Pa.; and Montgomeryville, Pa., and they will not have a going-out-of-business sale, according to Sixth Avenue executives who spoke with TWICE.
…
The stores to be closed in New Jersey are in Paramus on Route 4, whose lease is up, and in Old Bridge. Temiz and Galanis said that the lease on the Paramus store is up and there is a newer location in the same time, and that the Old Bridge store has been a poor location for a while.
From Pharmalot:
Pfizer To Shrink R&D And Cut Up To 3,500 Jobs
As part of its ongoing effort to brace for the loss of the Lipitor patent, Pfizer now plans to close an R&D facility in Sandwick, Kent in the UK, which employs 2,400 jobs and was where Viagra was born. The drugmaker will also shift some operations from its Groton, Connecticut R&D facility in the US to its Cambridge, Massachusetts site, which is being expanded, as it moves to slash $1.5 billion from R&D spending.
About 25 percent of the 4,500 Groton employees will be effected by the moves, although it is not clear how many jobs will ultimately be eliminated. And Pfizer will also outsource certain unspecified functions and some research areas are being disbanded: allergy and respiratory, which is based in Sandwich; antibacterials, which is located in Groton; and tissue repair, regenerative medicine and oligonucleotides, which are located in Massachusetts. Neuroscience and cardiovascular and metabolic disease are being shifted to Massachusetts.
Over the past few years, Pfizer has cut more than 19,000 jobs to save costs and also combine operations after acquiring Wyeth (see here). Overall, Pfizer currently employs 110,600 people and the goal now is to eliminate up to another 5 percent of its global workforce.
Jesus ******* Christ.
Lead, follow, or get out of the way.
“…when you hear a “can’t” excuse then sternly and immediately say something like, “don’t tell me the reasons why you can’t get this completed, I’m not interested in why you can’t get it done. I’m interested in your ideas in “how” to get it done. If you don’t have any ideas then don’t speak to me”. This touches multiple aspects denoted above, fame, power, teamsmanship.
Good luck btw, I have seen many managers get this wrong, repeatedly.”
Grim
If that house is in Chatham, Harding, or Madison shoot me an email. Have a friend who has bid a few here, comes in low, but he’s serious and getting closer to next year’s school deadline.
“…when you hear a “can’t” excuse then sternly and immediately say something like, “don’t tell me the reasons why you can’t get this completed, I’m not interested in why you can’t get it done. I’m interested in your ideas in “how” to get it done. If you don’t have any ideas then don’t speak to me”. This touches multiple aspects denoted above, fame, power, teamsmanship.
Good luck btw, I have seen many managers get this wrong, repeatedly.”
Or another version might be something like “I know you are trying your best to complete this work. Come payday, I am going to try my best to pay you.”
shore (102)-
That was my first thought: overwhelm the system, in order to destroy the system.
“I suspect there will be large numbers of cascading layoffs at the county, municipal, and school-district level if these funding cuts go through. THEN folks will see whether their elected officials are up to the task of making systemic changes or whether they reflexivly close libraries, parks, and every last thing that hurts constituants the most in order to get taxpayers to relent and agree to increase taxes.”
Funny. I’m banned from that 6th Avenue Electronics in Paramus. It’s a long story that dates back to 1990. Let’s just say that Captain Cheapo and the purchase of a gray market Denon CD player did not go terribly smoothly. Neither did their sales for a particular Sunday that Spring as Captain Cheapo decided to share with all of their potential customers the risk they took when making purchases there. One criminal trespass charge later and short stint in the Paramus municipality jail as well as two sessions in their municipal court resulted in my permanent ban from their establishment through a negotiation with the prosecutor. I think I won this one. Especially when I had tons of friends who would go in their regularly, put together huge home theater packages, only to cancel the orders once they revealed that they new they were selling gray market goods. Was the first and last time I was handcuffed. Well for criminal purposes that is.
safe (114)-
Is this a hurricane…or a stripper?
“I reckon Cyclone Yasi is going to make sugar and wheat and rice prices go up too.”
nicholas (124)-
If I ever pick up my guitar again, thanks for naming my next band.
“Cultured Meat”
cat (144)-
It’s far more easy- both from a cost and energy standpoint- to manipulate gluten to create meat-like products than to culture meat in some funky biotech nightmare process.
I may break out my grenade launcher tomorrow.
My own little re-creation of the Allies pushing through the Ardennes.
From HousingWire:
Aceves ruling: Foreclosed homeowner has cause to sue bank for fraud
A California appeals court ruled that a former homeowner’s lawsuit against U.S. Bank for fraud may continue after the bank allegedly reneged on a promise to negotiate a mortgage modification, opening the door for claims from potentially thousands of similarly situated troubled borrowers in the Golden State.
While the court ruled that a case for fraud–which includes claims for damages–could proceed, it also ruled that the homeowner, Claudia Jacqueline Aceves, lacked sufficient cause to get her home back after the foreclosure sale.
Although I doubt she’ll be getting much pity…
In April 2006, Aceves took out a 30-year, $845,000 loan at a rate of 6.35% with original payments about $4,860 per month. After two years, the rate became adjustable. In January 2008, Aceves could no longer make her payments, and a notice of default was filed in March of that year.
Is it too late to predict that 2011 is the year when “limit up” becomes a term every person in Amerika understands?
[57, 90] cat
That is what we, in the courts community, refer to as a “bench slap.”
I think his law clerk is also a republican. Just a guess, mind you.
‘Cat
Someone has to go through all the DoJ motions, and find the arguments where DoJ says that the mandate is also permissible under the power to tax (hence, it is a form of taxation).
Didn’t Obama say “not one thin dime” when he referred to the middle class and tax hikes?
“It’s far more easy- both from a cost and energy standpoint- to manipulate gluten to create meat-like products than to culture meat in some funky biotech nightmare process.”
Then why does a half pound package of Boca or Morningstar farms vege chicken or vege beef cost $5, when you can get chicken for $2.50 per pound and ground beef for $5 per pound?
And don’t give me that economies of scale line.
http://www.app.com/article/20110131/NJNEWS15/101310332/Asbury-schools-chief-claims-say-over-board-members-talks-media?odyssey=mod|mostview
ASBURY PARK — School Superintendent Denise Lowe says that school board members must get her permission before speaking to the media. snip
http://www.app.com/article/20110131/NJBIZ/101310338/Robert-Brennan-case-could-reopened-after-trust-found-Bahamas?odyssey=mod|mostview
Stu,
Or should we call you Norma Rae?
Nom,
It isnt really a tax if it is for your good. Don’t you get it?
Shore,
after another evening of essentially homeschooling my kid for a few hours because he comes home not understanding the days material because the teacher is behind in her lesson plan and is sending home homework AHEAD of the lesson plan…I read this sand could bite through a nail. Over 20k per student!?