From the Star Ledger:
N.J. can’t afford tax cuts proposed by either party
It’s party time in Trenton, where we now have a menu of tax-cut plans to choose from — one from Gov. Chris Christie, one from the Senate and a third from the Assembly.
The proposals are different in big ways. Christie’s plan is tilted heavily in favor of the rich. The Assembly plan is the most progressive, but is politically a nonstarter. And the Senate plan, as usual, tells us where this is all going to land in the end.
But they have this in common: All of them would blow a $1.4 billion hole in the annual budget once they are phased in.
In other words, all these plans would force much deeper spending cuts than we have already seen, cuts that will sink deeply into the muscle and bone of what our state and local governments do.
…
Hard realities like this do not sell on the campaign trail. To say we can’t afford a tax cut is like snapping on the lights at the drunken frat party. It’s no way to win friends. But this failure of leadership is striking and threatens to derail the modest progress that’s been made in the past few years.The political blame belongs mostly to the governor, who started this arms race with his plan to cut income taxes by 10 percent. As state Senate President Stephen Sweeney (D-Gloucester) puts it: “We have the governor running around saying, ‘I want to cut your taxes and they want to spend your money.’ So there is some political realities on this.”
If you have to chose among the plans, the Assembly version is preferable. It offers a credit to cover 20 percent of property tax payments, financed partly by a tax increase on incomes greater than $1 million. The governor’s plan is the worst, because it reserves most benefits for the rich.
The Senate version, with a 10 percent cut and no tax hike, is the likely end point. But don’t celebrate this one. It will come back to haunt us.
Broke down and went to look at a few houses yesterday, should have stayed home. The mold was so bad in one I could not breath after leaving. These are foreclosure so I guess it is to be expected. It really is a shame, on one formally nice home in my neighborhood I know they received offers twice the price it is now 18 months ago. They played hard ball now it is worthless mold ridden tear-down. “Waiting” to recommence till further notice.
Good Morning New Jersey
Mike 1 Somebody will grab it, an ass for every seat
On my post one “they” is the bank, all of the homes I looked at were bank owned .
Mike I do not know I have the guys to fix them up with me and can do it very cheap. I am not going for it. When it is all said and done you could buy a good one with 10 15 k more. Not enough to take a chance for a flipper or for a regular buyer like me either. By the way all under 100k.
On the one I mentioned they were asking 199k in a short now 90 k wreak, turned 180 down. Now they just turned down 78 cash, in 6 months they can price it at 65 and turn down 55.
Mike 5 I think vacant lots were a steal at 100k during the bubble
Yes, even in my neck of the woods, literally.
You can definitely see your skills within the work you write. The arena hopes for even more passionate writers such as you who are not afraid to mention how they believe. All the time follow your heart.
Not Exactly sure why Mike but Banks never seem to want to negotiate. My neighbor bought a bank owned home and they absolutely refused to budge from their price. They’d rather let it sit. He finally just gave them what they were asking since it was already a steal. I’m glad he bought the house because it was really starting to deteriorate and had become a total eyesore. He really fixed the place up, cut down all the overgrown landscaping, put in sod, and a ton of other updates. Did most of the stuff himelf. Glad he bought the house. He really turned it around. It’s a 90 plus year old American foursquare and he did a nice job restoring it.
1.Mikeinwaiting says:
March 12, 2012 at 5:07 am
Broke down and went to look at a few houses yesterday, should have stayed home. The mold was so bad in one I could not breath after leaving. These are foreclosure so I guess it is to be expected. It really is a shame, on one formally nice home in my neighborhood I know they received offers twice the price it is now 18 months ago. They played hard ball now it is worthless mold ridden tear-down. “Waiting” to recommence till further notice.
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http://www.ritholtz.com/blog/2012/03/steinberg-update-february-2012-employment-report/?utm_source=dlvr.it&utm_medium=twitter
Thanks Grim and Jill for recommending Green Demolitions in Fairfield on Friday. I already checked it out and liked it a lot – it seems to be a real hit or miss place, but some of the cabinetry and shelving available was stunning.
My offering is the Design Within Reach store with the sales annex in Secaucus, NJ (DWR.com) where they have amazing sales on modern designer furniture (esp. semiannual sales ) and where the sale prices are negotiable. Lots of chairs, tables, etc. made in Europe and USA.
Another offering is Pompanoosuc Mills which has very beautiful Vermont made furniture (pompy.com) and a store in Ridgewood, NJ. Normally very expensive, but with the ongoing “Great Recession” they seem to be desperate for business and seem to be constantly having 20 and 25% off their catalog prices (so these are real sales).
Does anyone know where to get (new or old) outdoor furniture, benches, and statues ? I’ve always admired the cement benches and statues I see in old estates.
Hmmm, where have I heard that this would be happening?
http://online.wsj.com/article/SB10001424052702304450004577276823914520002.html
As gary would say, “drip, drip, drip . . . “
Mike [3];
Mike 1 Somebody will grab it, an ass for every seat
Like our dear host would say, there’s nothing the right price can’t fix. One can still shake their head at the waste of value in the meantime.
Brian [10];
Not Exactly sure why Mike but Banks never seem to want to negotiate.
Its because they don’t really need the capital, they have a rich uncle to backstop them.
[15] redux
When one reads between the lines, the trends in this report and the idea that domestic device mfgrs will be subject to a tax that won’t apply to foreign mfgrs, suggests to me that there will be a lot more takeouts of smaller domestic device mfgrs by foreign companies, notably asian companies.
http://ita.doc.gov/td/health/medical%20device%20industry%20assessment%20final%20ii%203-24-10.pdf
I expect that there is gonna be more CNOOC-style posturing in the future by our congress and regulators to stanch the bleeding, and legislation to incent large domestic mfgrs to be white knights.
Moose 16 But like Mike said in number 5 you can get something in better shape for 10-15k more why bother.
Any thoughts on what you guys would pay for the below listing?
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1208122&dayssince=&countysearch=false
Con’t [17];
In a similar vein, homeowners who are under pressure but not yet distress have no compulsion to sell for market price, because they know damn well that it will be 3+ years until the banks make any move to get them out of the house they haven’t paid for, and even then they can raise a stink about how they are losing “their” house.
They price their listing accordingly.
Tax News of the Day:
Forget the headline, this poll actually shows the numbers going Obama’s way.
http://www.rasmussenreports.com/public_content/business/taxes/march_2012/56_think_america_is_overtaxed
Another day in hell.
“We Can Live With” $4 Gas: Economist Sees Hope for U.S. Amid Global Slowing
http://finance.yahoo.com/blogs/daily-ticker/live-4-gas-economist-sees-hope-u-amid-191518576.html
No hope. On a collision course with oblivion.
so I went to look at a house on Sunday as a realtor called me I was working with and said it had a huge amount of space. So square foot is taxed three ways, enclosed finished and heated, enclosed unfinished with no heat and porch.
So this house had on main floor had two car garage, three bedrooms, two baths, EIK, Living room Den.
But it had a tremendous full size second level completely unfinshed no heat and a completely unfinished basement unfinshed no heat.
So the house had huge taxes as that tremendous basement and attic was being taxed at a lower rate as it was unfinished and no heat but still being taxed. House was big, but original from 1950s, orginal bathrooms, orginal kitchens on a 100×120 plot.
But bottom line in spite of unfinished attic and basement house was only three bedroom two bath house. Less than 1/3 of space in house was finished if you count garage.
Price 1.2 million with 31K taxes. Lovely. House had huge potential at 900K and 12K taxes. 31K taxes, really? After you finish attic and add a bath up there and finish basement what will taxed be 50K?
$4 dollar gas is no big deal. Tons of people heat house with gas which is at all time lows. Mass transportation ridership is up, salaries and investments are up and MPG of cars are way up. this is way different from 1970s or even after Katrina
realtor I met recently I looked up bio on line. seriously?
I had my own business for 25 yrs, before I went into Real Estate. It was a Nail Salon. I loved what I did then, but I was ready for a change. I’ve been doing Real Eastate for the last 6 yrs, and like always I gave it everything I can to be successful. I am a Top Producer since I started. I started with Century 21 and now I am a Re/Max Agent. l have my phone on 24/7 to always be available to anyone that needs any assistance at any time. I just recently hired somebody to work for me, to help me in assisting everyone so that I don’t disregard any clients or customers. I really love what I do and I believe it shows. I’m single with no children and that gives me alot of freedom to be able to to available at all times. ..
Ok, so if anyone really gives a f*ck, I’ve been studying non-stop anything UNIX and Network related in prep for an interview tomorrow. Why? Because it’s a permanent gig and only a permanent gig will free my conscience to actually consider bidding on a house. Besides, lenders don’t like “contractors” because they understand it’s a fancy term for a temp worker and won’t give you a loan despite your credit level. Just my 2 cents.
Best way to survive in the world to come is to default on current debt and reject any offers of credit now, or in the future.
Fiat is dying. Credit is dying. Financialization is dead.
Gonna be a long walk home.
Gary,
Good luck on your interview tomorrow. Whatever you do don’t pronounce TCP/IP as “tee cee pip” as that is a clear give away that you are a noob.
Gary,
Perhaps it is a distinction without a difference but, as a “contractor,” you are self-employed, but to the banks they hear temp worker. Is there any benefit to forming an S Corp, and then having your company subcontract? That way, instead of looking like a temp worker you look like small-business owner.
Tee Cee Pee Eye Pee FTW.
Try weekend Chelsea Flea market for cool vintage stuff . Furniture. Etc
I won’t wish you good luck because you don’t need it. I feel sorry for the other candidates interviewing for the position. They are wasting their time ;)
Seriously, I wish you well.
29.gary says:
March 12, 2012 at 10:39 am
Ok, so if anyone really gives a f*ck, I’ve been studying non-stop anything UNIX and Network related in prep for an interview tomorrow. Why? Because it’s a permanent gig and only a permanent gig will free my conscience to actually consider bidding on a house. Besides, lenders don’t like “contractors” because they understand it’s a fancy term for a temp worker and won’t give you a loan despite your credit level. Just my 2 cents.
Inasmuch as it is California, perhaps meditation is in order.
http://articles.latimes.com/2012/mar/10/local/la-me-stockton-bankruptcy-20120312
Stockton residents watch their port city slip away
Within three months, the Central Valley city of 300,000 could become the nation’s largest municipality to file for bankruptcy. The City Council is trying to slow or stop the bust by entering mediation.
The name painted in the plate-glass window, “Bradley’s,” has a martini glass standing in for the “y.”
The late-afternoon sun has turned the other windows into mirrors. Deep inside, in bar-appropriate shadow, patrons rest their drinks on 100-year-old mahogany and, as in many a neighborhood pub, consider hopes gone astray.
Across the way are a marina without boats and parking garages without cars. There are few people outside on downtown sidewalks.
This is what it looks like when a city is close to going under.
Within the next three months, Stockton could become the nation’s largest city to file for protection from creditors under U.S. bankruptcy code. Using a new California law, the City Council is trying to slow or stop the bust by entering mediation with creditors, including public employee unions. In the meantime, the Central Valley port city of 300,000 has suspended several bond payments and will not cash out vacation or sick time for employees who leave.
snip
Shore [32],
It’s a good thought. I just don’t like the feeling of not having the security (not that there’s any guarantees). I want a permanent gig. Besides, contractors are treated as such… like they’re really not part of the company and it harbors resentment.
Thanks guys. And I would never pronounce it other than tee cee pee eye pee. lol!
#37 gary: Good Luck!!
Good luck! Getting out of contract hell would be an inspiration to all those trapped on that horrible treadmill.
#37 gary: Any thoughts on my post #20; I appreciate your insights.
Sima & 3B,
Thank you, and I agree. They want you to be as “enthusiastic” as they are while they talk about bonuses coming out next week. That’s fine but guess what? Gary want’s a f*cking pony, too! lol!
3B [20],
I know it’s a busier street. Consider the condition of the infra-structure and get an inspector to turn over every rock. Get as many as comps as you can and after you’ve gone down your checklist, make the offer. It’s 400K list, not 800K whick makes it easy to figure out if you’re in the ball park. There’s not much to whiff on here.
Gary as someone who interviews people we ask tons of mumbo jumbo questions but I am really trying to find out three things. In fact everyone who interviews wants these three things answered?
Can you do the job?
Will you do the job?
Can I stand working with you?
That is it.
gary says:
March 12, 2012 at 10:39 am
Ok, so if anyone really gives a f*ck, I’ve been studying non-stop anything UNIX and Network related in prep for an interview tomorrow. Why? Because it’s a permanent gig and only a permanent gig will free my conscience to actually consider bidding on a house. Besides, lenders don’t like “contractors” because they understand it’s a fancy term for a temp worker and won’t give you a loan despite your credit level. Just my 2 cents.
#36,
I have been contacting for the past 14 years in IT , have incorporated myself, have adjusted and have thrived. I have over 7 personal clients that I work for, make over 350K and I personallyknow all the CTO/CEO’s of the firms I work for. I am held in high regard by these firms.
I can’t imagine a life of a perm employee. These days perm employees are thrown off on a moment’s notice with 2 weeks of severance. What kind of “job security” are you talking about.
You cam make a ton of money contracting by being savvy and business minded. I don’t need any credit/loans from banks as I have cash to pay of almost anything I need these days including a house if I want to do so.
So get over cribbing of being a “contractor”, grab the bull by its horns and make some money. My motto (to a certain degree), “money first, people later”.
gary says:
March 12, 2012 at 11:02 am
Shore [32],
It’s a good thought. I just don’t like the feeling of not having the security (not that there’s any guarantees). I want a permanent gig. Besides, contractors are treated as such… like they’re really not part of the company and it harbors resentment.
3b #20: Wow, that’s just like my friend’s house in Oakland, but not as nice. They put a bay window in their kitchen and cut a pass-through to the dining room to open things up a bit. That part of Magnolia Avenue is pretty decent. 570 Colonial Blvd in WT, similar Dutch/Split, recently sold for $360K. No idea how condition compares with this one, but looks similar. Maybe go in at $360K and see what happens? Grim? 30-year? What do you think?
Sima #14: GD is a place where you have to keep checking back. My problem is that most of their kitchens come from newer homes with 10′ ceilings. I have forced air ducts and G*d-knows what behind my soffits so 42″ uppers is out of the question.
Brian #10: People like your friend who restore a genuine foursquare should receive medals. Most people tear them down, and it’s tragic.
Happy fourth birthday Bull market.
Stocks: Bull market enters fourth year
http://money.cnn.com/2012/03/11/markets/sunday_lookahead/index.htm
To think May 2009, 2010 and 2011 college graduates have never seen a bear market. Like 9/11 it is something they read about in history books. I may go over at lunch to rub the bulls balls in celebration of the event.
Brian says:
March 12, 2012 at 11:24 am
Happy fourth birthday Bull market.
“Getting out of contract hell would be an inspiration to all those trapped on that horrible treadmill.”
Does this involve a choice between a blue pill and a red pill?
Do you have business plans to grow this or monitize it? I mean is the business all you? Can you bring on staff, can you sell it? I mean 350K is good, but you need to grow it. A big four manager needs to sell one million a year, a senior manager three million a year and a Partner five million a year. Sure overhead and salaries and insurance is sky high but the selling is the same. I used to be good at selling, but post Y2k, Post 9/11 and post SOX IT consulting work hit huge periods of it was hard to sell anything. Look at Bearing Point the KPMG Consulting spin-off that was focused on IT it went bankrupt less than 7 years after its IPO. Also first you have to sell, then do the work and then get them to pay the invocie and then more importantly unless sell is re-occuring work you have to start all over again. Selling and running your own business is not for 95% of people. I saw so many industry experts come and go with lots of connections that could not sell. Rule one is ABC Always Be Closing Rule two is Invoice Early and Often. Most could not get past rule one. I would close every five minutes. My favorite was I met someone I said I have done this before, I can do this for you and I am qualified to do this and I have availability and then said would you like an engagement letter to sign. My ABC was 90 seconds. I closed and left. 990K sale. That was extreme and quickest close ever. But you know what if I kept talking I might have talked her out of sale so I closed. Same with a girl in a bar. At one point you say lets get out of here and go back to my place. Too soon no good, too long no good. There is a window, sometimes that windows comes right away. Sounds like you are good at it. Now turn your 350K sales into 3.5 million in sales. Be like that Spanx lady one billion or bust.
Zack says:
March 12, 2012 at 11:21 am
#36,
I have been contacting for the past 14 years in IT , have incorporated myself, have adjusted and have thrived. I have over 7 personal clients that I work for, make over 350K and I personallyknow all the CTO/CEO’s of the firms I work for. I am held in high regard by these firms.
I can’t imagine a life of a perm employee. These days perm employees are thrown off on a moment’s notice with 2 weeks of severance. What kind of “job security” are you talking about
If your interviewer is named Morpheus, you may want to reconsider taking the job.
#45 Jill: it is dated, but the guts (roof, windows heating) are all updated. I think it is worth about no more than 350 K. It is dated but clean and does not smell. The one across the street with the perfect 60’s kitchen (and tons of work) is under contract, last list price was 359K. It will be interesting to see what that closes at.
#14-Try “Build it Green” in Astoria. Great building and furnishing salvage that while it’s hit or miss, you’ll always find something. Lots of outdoor planters, tables/chairs. Typically middle to very high end-think Upper East Siders who bought new co-ops with 100k kitchens they want replaced.
#42 gary: That part of Magnolia is the quieter part, further away from town center. House has been well maintained. 350K is the most I would pay.
Zack [44],
Congratulations on your accomplishments. My needs are different than yours.
Eventually I’d like to get to the point where I have no debt. Then, I would feel a bit more secure. As long as I keep my skillset current, I could work in almost any business. That’s what would make me feel secure.
Regarding security and permanent/contract jobs…Managers here fight hiring full time employees. They always tell me that it is much more of a PITA to fire a full time guy. HR gets involved, there’s legal entanglements and who knows what else. Disgruntled employees seem to always sue too. It’s much easier just to say, “contract terminated” on a whim. Once, when we had a minor complaint about a contractor we hired. My boss at the time called HQ in CA and before he could even finish his sentence, he said “WALK HIM OUT”. We tried to explain what was wrong but manager at HQ just kept talking over us “WALK HIM OUT”. It’s just that easy.
As for temp worker v. a contractor:
I would think that if a company is hiring ones company (even if the company is just a single person), there are certain advantages over being a temp worker. First, one can deduct all vehicle expenses (if one is driving 30 miles each way during a 220-day work year, it is like saving over $7,000 in expenses), tolls, etc., one can obtain health insurance and deduct that cost pre-tax ($15,000 deducted pre-tax), one can take a perdiem meal deduction (in the Newark area it is something like $61/day (for a 220-day work year, that is over $13,000 in deductions from taxable income. As an employee, one is still incurring the expense, but on an after-tax basis), one can set up a solo 401(k) and deduct something like $40,000/year, plus any expenses for trying to obtain new business, say in Hawaii, or whatnot, come off the top. Without breaking a sweat, one can easily shave a good $75,0000 from taxable income. Nom could go into more details.
There are some jobs you can contract out and there are some jobs you can’t. In most companies there needs to be someone watching the henhouse so you don’t contract out management or IT staff. Those people are core to the company achieving its goals and you need a strong loyal core in order to get things done. You can contract out pretty much the rest of the workforce though.
I don’t advocate doing that as most times retaining the skills of valuable workers is more important than being able to fire them on a moments notice.
I worked at a company where they had four permanent employees and contracted out another four to help transition through a large upgrade. They liked me so they promoted me to doing the same work as the permanent employees. I asked them to hire me full-time and they indicated that they wouldn’t citing, “I don’t have any open billets”. I let them know that I was leaving shortly after that.
The result was that as an employee I moved my feet so that I stood on the right side of the line rather than let someone take advantage of me. In the above case they wanted to be foolish so I quit and let everyone vocally know that it was because of poor worker policy.
Full time employees are like dinkleberries.
Rock & hardplace
http://www.marketwatch.com/story/labor-mobility-curtailed-by-housing-market-2012-03-12
JJ,
Do you work for appaloosa?
http://nymag.com/daily/intel/2009/12/david_tepper_made_7_billion_do.html
gary [29] Tell them you once reverse engineered a mistakenly deleted INFORMIX-ESQL database by creating and running sed and awk scripts on still existing reports.
Ok, so if anyone really gives a f*ck, I’ve been studying non-stop anything UNIX and Network related in prep for an interview tomorrow. Why? Because it’s a permanent gig and only a permanent gig will free my conscience to actually consider bidding on a house. Besides, lenders don’t like “contractors” because they understand it’s a fancy term for a temp worker and won’t give you a loan despite your credit level. Just my 2 cents.
I agree with Gary regarding contract workers.
I personally have NOT met any contract workers making as much as they did when a full-time employee. Think of those laid off from pharma due to mergers/downsizing. There are no full-time pharma jobs for middle-aged people with wisdom, experience, and college degrees. Instead, there are contract jobs with each recruiting firm telling the pharma companies they can find someone for less and less money. Thus a downward spiral in salary per hour.
Regular employees shun the contract workers for the most part because they may be gone at any time. Working for shit pay , NO paid days off ever, no benefits sucks. It doesn’t matter how nice the work environment is – second class is second class. You’re just a disposable drone.
JJ so you must be a bleeding hemo_rrhoid.
Brass Balls AKA JJ says:
March 12, 2012 at 12:56 pm
Full time employees are like dinkleberries.
# 56 Shore Guy – Those advantages are not there for many contract workers because they are “employees” of the recruiting firm so that the firm can take its cut.
The only benefit there is that you can get unemployment when the inevitable contract termination occurs.
If you are totally “self-employed” as a contract worker you can’t get unemployment. So when the termination occurs, whether at 3 months or 6 months or whenever, then you collect nothing. If there is a family, a mortgage, medical bills, etc. then you are in a desperate situation.
So I’m rooting for Gary!
#55: How sad is that — companies going into an employment relationship assuming the worst. If they have people who know how to hire (not gumchewers in HR or managers who immediately discount everyone who’s over 40), perhaps there wouldn’t be so much need to fire. Firing reflects as much on the hiring process as it does on the person being fired.
Paychecks, bonuses, benefits, flex time, vacation time, sick time, 401k matches, etc. are all given to employees in exchange for their work, skills and time. Employers that want to retain talent offer these things if they want to retain quality employees.
When I see a “contract” job, I understand that the company has no intention of “keeping” me as their employee. My relationship with that employer will be temporary and by design, the empoyer wants to be able to terminate that relationship more easily. I can’t be surprised then, if they are reluctant to “keep” me on a more lasting basis as their employee.
What I find decietful and confusing, however, is that the contracting company often puts “contract to hire” or “temp to perm” in the job description. I’ve seen the contracting companies do this time and time again when I know the position we have open was temporary. It misleads the employee and they end up bitter and disgruntled, crushing morale.
Going into this relationship and understanding this, one might actually be able to make a good living. I for one, do not think I would apply to a contract job at this point in my life. Maybe if I were laid off and had no other options, but thats about it.
Don’t get me started on management. The term “Boat Anchor” comes to mind.
58.Brass Balls AKA JJ says:
March 12, 2012 at 12:56 pm
Full time employees are like dinkleberries.
[b][url=http://stirstick.net/story.php?title=hire-professional-php-programmer-6
]php developer
[/url][/b]
Expat [61],
I like! lol!
Sima [62],
Amen! :)
My brass balls would fill the office. Actually he is wrong there was two of us bidding for that junk in 2009. Sadly with cap gains going to 20% and new medicare tax on cap gains of 3.9% most are selling those bargains of 2009.
Nomad says:
March 12, 2012 at 12:58 pm
JJ,
Do you work for appaloosa?
Brian [66],
You said it exactly. After I passed the 6 month mark here and realized I’ve been duped, I immediately ceased any personal interaction beyond work-related conversation. The term “cold as ice” doesn’t even begin to describe my demeanor.
I am a people person. But most people are not people people like me. But to be a boss you need staff. Often the most grumpy unqualified people want to manage people cuase you can’t make a good salary without staff. Lucky for me I am loved by everyone women want to do me and men want to be me. People naturally follow me. I am like Payton Manning with a good neck.
Brian says:
March 12, 2012 at 1:16 pm
Don’t get me started on management. The term “Boat Anchor” comes to mind.
58.Brass Balls AKA JJ says:
March 12, 2012 at 12:56 pm
Full time employees are like dinkleberries.
[29] gary
Fingers crossed at the Deplumes.
Brian,
What they meant by temp to perm was that they would permanently keep you in temporary jobs for as long as you would suffer through.
One big FU to Newark airport, we arrived early and the left us cooking on the tarmac. I have to attend a deposition this afternoon and I look like entered a wet t-shirt contest during Spring Break. Might as well run out to Men’s Warehouse and buy a new shirt this one won’t be drying out anytime soon.
73. Do you have the faux deep voice that Manning tries to use. Kinda sounds a lil slow to me.
67. I have seen the term “fail up” in action. The most useless people in yhe building reach the higher offices. This is usually followed by a complete meltdown in the business.
Well I salute you JJ. You’re one of a kind buddy. I hope today when you were tickling the Bull’s bronze balls you were thinking of all of the little dinkleberries who helped make your brass balls what they are today. Maybe give em a good bonus this year.
73.Brass Balls AKA JJ says:
March 12, 2012 at 1:25 pm
I am a people person. But most people are not people people like me. But to be a boss you need staff. Often the most grumpy unqualified people want to manage people cuase you can’t make a good salary without staff. Lucky for me I am loved by everyone women want to do me and men want to be me. People naturally follow me. I am like Payton Manning with a good neck.
It is the Peter Principal. They theory is in business everyone rises to their level of incompetence. You start as staff do a great job make AVP, do a great job as AVP you make VP do a terrible job as VP don’t get promoted ever again and you have risen to your level of incompetence.
Bocephus says:
March 12, 2012 at 1:42 pm
67. I have seen the term “fail up” in action. The most useless people in yhe building reach the higher offices. This is usually followed by a complete meltdown in the business.
Juice,
I hear ya! I was on the morning Conti Express shuttle to Nashville out of EWR this morning. They had us on the tarmac for 30+ minutes in a full-to-the brim small Embraer waiting for the ground crew to find a 250pound ballast to chuck in the rear cargo bay. It was hot as brass JJ balls on that plane.
is there any public info available that would show if a short sale has any other liens, tax liens, etc. on the property other than the mortgage?
JJ at work —> http://upload.wikimedia.org/wikipedia/en/thumb/f/fb/Pointy-Haired_Boss.jpg/130px-Pointy-Haired_Boss.jpg
If dilbert is so smart how come the pointy guy is his boss? Funny my waterview corner high floor office and ice cold drink is looking good today next to a sweaty plane. Have to go my secretary wants to sit on my lap and take come dictation.
Juice Box says:
March 12, 2012 at 2:02 pm
JJ at work —> http://upload.wikimedia.org/wikipedia/en/thumb/f/fb/Pointy-Haired_Boss.jpg/130px-Pointy-Haired_Boss.jpg
Morph (from yesterday’s thread): pick away.
Nom/Shore (also from yesterday’s thread): Agreed, there is nothing good about Tewksbury, unless you are a huge fan of chain restaurants.
Jill (Refacing cabinets): We stripped our cabinets in the multi and repainted them. If you take your time, remove the oils (use chemicals), paint ’em with a roller with quality paint after filling the holes, it really looks as good as new. Especially when you replace the hardware (hinges/knobs). We did spring for Corrian which was cheap at the time. I think the whole kitchen redo even with the countertops was like $2,500.
Reading JJ’s stories, I have this picture in my head of him where he is like a cross between Gordon Gecko from wall street and Rodney Dangerfield in Easy Money.
83.Juice Box says:
March 12, 2012 at 2:02 pm
JJ at work —> http://upload.wikimedia.org/wikipedia/en/thumb/f/fb/Pointy-Haired_Boss.jpg/130px-Pointy-Haired_Boss.jpg
Tax season is getting me down. Sometimes I wonder how other people are making it and now I know. 3 guys w-2s just came in. All between 600 – 700 k. These guys are 36-40 yrs old and 2 of three do not own the companies they work for. The 3rd is a partner in a financial planning firm. Color me green, but a little more $ would make my life wayyyy easier. BTW – these are all almost double 2010. Time to invest in some luxury stocks.
Libtard: My new doors and veneers are oak, the doors are simple Craftsman-type…and I’m concerned about the grain bleeding through and if it will look awful. I’m thinking of a cream color paint. I was going for an Arts & Crafts look but there’s no way that oak refacing looks like Crown Point quartersawn oak cabinets. The hinges are new euro-type and I have oil-rubbed bronze knobs and cup-type drawer pulls. Just thinking that cream paint might look less dated and would give me more options for countertop and flooring.
JJ, I don’t know how you do it. Reading your posts I don’t understand how you haven’t been sued for sexual harassment. All these young girls in the office all gussied up. At my old job it was a lot of young girls in their twenties. Working as tellers or in customer service. Always wearing tight clothing that looked like it was painted on.
My new job is all dorky stock analysts. Absolutely no tail here. Perfect for the married guy trying to stay out of trouble.
84.Brass Balls AKA JJ says:
March 12, 2012 at 2:11 pm
If dilbert is so smart how come the pointy guy is his boss? Funny my waterview corner high floor office and ice cold drink is looking good today next to a sweaty plane. Have to go my secretary wants to sit on my lap and take come dictation.
seif [82];
is there any public info available that would show if a short sale has any other liens, tax liens, etc. on the property other than the mortgage?
Let the title insurer worry about it; that’s what they get paid to do. In fact, I think ‘insurance’ is a real misnomer. What they get paid to do is research. They won’t issue if they can’t get clean title. That keeps the number of claims down.
“Have to go my secretary wants to sit on my lap and take come dictation. ”
You mentioned your secretary’s name once before, I believe. What is his name again?
Now THIS is a real secretary, not the kind you nancy boys have.
http://1.bp.blogspot.com/_qlLcZnbaijo/SPsDIf7KobI/AAAAAAAADM4/rdl-DQxz9bQ/s400/flexible_secretary1.jpg
Flexibility IS important in an employee.
JB…About Newark Airport. It is officially (study performed last year) the worst airport in the country for delays and is now the most expensive for passengers to fly in an out of (highest ticket prices).
I remember when Newark was the secret New York airport because it was cheaper than JFK and didn’t suffer the flight delays. Then again, People’s Express was keeping things cheap for the New York flyer.
Only time I ever crossed the line and got in trouble was way back years ago. We had a pizza party and the fat lady complained she needed low calorie pizza. So I xeroxed a piece of pizza and put it on a paper plate and gave it to her. Apparantly HR thinks that is an issue. Although since fat people were not a protected class I could not get in trouble. Although the time I took a girl at work on her honeymoon after the groom ditched her apparantly was frowned upon as well as dating the bosses daughter> lucky for me I worked in financial services between 18-22 while in college and by the time I got my first real job I avoided women at work like a plague. Also I used to take great joy at parking my mangled dodge dart in the ceos spot at mastercard. Apparantly that is also not accepatble.
Brian says:
March 12, 2012 at 2:26 pm
JJ, I don’t know how you do it. Reading your posts I don’t understand how you haven’t been sued for sexual harassment. All these young girls in the office all gussied up. At my old job it was a lot of young girls in their twenties. Working as tellers or in customer service. Always wearing tight clothing that looked like it was painted on.
My new job is all dorky stock analysts. Absolutely no tail here. Perfect for the married guy trying to stay out of trouble.
84.Brass Balls AKA JJ says:
March 12, 2012 at 2:11 pm
If dilbert is so smart how come the pointy guy is his boss? Funny my waterview corner high floor office and ice cold drink is looking good today next to a sweaty plane. Have to go my secretary wants to sit on my lap and take come dictation.
“Although since fat people were not a protected class I could not get in trouble”
Ever hear of the ADA and EEOC v. Watkins Motor Lines, 463 F.3d 436 (2006) ? Also, you are in NY, no? Under the New York Human Rights Law, I believe there is case law specifying that obesity is protected under that statute as well.
90 – thx…i just want to know if one exists on the property and if that could blow up a prospective short sale deal (ie., bank agrees but someone else has a lien and quashes a deal. i have a friend that bought a short sale and was able to get a tax lien pinned to the owner as opposed to the property so the sale went through.
This was back in college. Girl was high as a kite when she brought it up as she was smoking a j in the parking lot at same time. Next week me and her did a BK run together at the dinner break that turned into a trip to her dealer so she was pretty cool. HR lady just laughed it off. Although apparantly this lack of enforcement led to the fire estinguisher fight and dumpster on wheels cart races. But what actually got them was my beach days. We started second shift at 4pm and I organized lets go to field four at 11 am and drink and tan till 3ish then rush to work. Apparantly groups of people sunburnt and drunk showing up to work is also an issue. I learned so much at mastercard. Funny part is they were really strict on time and attendence there if you were absent more than twice or late more than twice in a year you were fired. People with long commutes, kids, second job, older etc. got fired regularly. They were so strick my buddy tboned a lady a few blocks from work and hit and ran as he had only five minutes to get to work. Funny part was an hour later he realized his wallet was missing. Dope put it on dashboard and with window open it fell out in accident and ladies lawyer called him. Funny stuff. ONe old guy I worked with worked a double shif ft fell asleep on way home which was third sickness and got fired. He got seriously hurt. But all the college kids lived nearby and would always show up, trouble was showing up and working are two different things.
Shore Guy says:
March 12, 2012 at 3:10 pm
“Although since fat people were not a protected class I could not get in trouble”
Ever hear of the ADA and EEOC v. Watkins Motor Lines, 463 F.3d 436 (2006) ? Also, you are in NY, no? Under the New York Human Rights Law, I believe there is case law specifying that obesity is protected under that statute as well.
Bruce sighting in AP today around lunchtime: http://a7.sphotos.ak.fbcdn.net/hphotos-ak-ash4/423344_2634350191153_1627384524_1942421_652297056_n.jpg
You guys did a great job spending your time to create this article! If I had to explain my emotions about your website in only one word ? it would be WOW! Thank you! P.S. Subscribed for updates!
85: ok stu.
House we bought was an estate sale in Hanover. Bank assessed it $17K higher than sale price. Town now says house is worth $33K more than I paid. After showing K of sale and Bank assessment of value, now say it is worth $29.6K more than I paid. None of the comps anyone used were valued at our sale price. Town says estate sales , like ours, do not count.
Am I screwed? have to till end of the month to appeal. How does one appeal?
I always wondered what flex time meant.
Shadow of John says:
March 12, 2012 at 2:47 pm
Now THIS is a real secretary, not the kind you nancy boys have.
http://1.bp.blogspot.com/_qlLcZnbaijo/SPsDIf7KobI/AAAAAAAADM4/rdl-DQxz9bQ/s400/flexible_secretary1.jpg
102.
I have heard of bending over backwards to do a good job but this is amazing.
Jill,
even if you paint the cabinets cream, some of the grain or knots in the wood (if any) may come through over time. you might be well advised to paint the cabinets (or at least the door faces & front of the boxes) with a good primer. Used to be one called Killz – was available in spray cans and traditional quarts and gallons. Ask at the store if still available and if spray can will give same coverage and protection as brushing or rolling on.
Advice about using a roller (for finishing coats at least) is a good one. Done properly, cabinets will look like new. Depending on paint, you may also consider some type of clear top coat for added protection.
Oblivion is nigh.
Jill,
Killz is still available and their oil-based is the best primer on the planet, though you will get stoned if you use it without a ventilator. It’s what I used.
Morph,
You are semi-screwed. If you can’t find good SALES comps (legitimate arms-length sales) I think you are stuck. Bank assessments and comparable assessments are not arguable. Actually, no appraisals are arguable unless you pay the appraiser to show up at the county hearing. If the house is appraised at under 500K, it only costs $25 to appeal, so the pro move is to file the appeal and then to try to negotiate with the town prior to the actual hearing. Once you get to the hearing, you probably will lose regardless of how much valid information you present. We absolutely kicked a$$ at the county hearing (the town couldn’t even find sales comps to challenge ours) and we got the worst settlement possible. Filing the appeal is a piece of cake. Google it or simply call your town or the county. Both will happily walk you through the steps in the process.
Damn. Losing always sucks but losing to a team backed by Fabius sucks as much as losing to a NYC team. Which is really bad.
I’ll offer this without comment.
Ed DeMarco’s Refusal on Principal Reductions Grounds for Firing
http://www.huffingtonpost.com/peter-s-goodman/ed-demarco-fannie-freddie-principal-reduction_b_1336190.html
That’s a good one
http://www.bloomberg.com/news/2012-03-12/some-housing-markets-do-better-than-others-commentary-by-edward-glaeser.html
WSJ
BUSINESS
March 12, 2012, 7:37 p.m. ET
Faulty Wells, Not Fracking, Blamed for Water Pollution
By RUSSELL GOLD
Some energy companies, state regulators, academics and environmentalists are reaching consensus that natural-gas drilling has led to several incidents of water pollution—but not because of fracking.
The energy officials and some environmentalists agree that poorly built wells are to blame for some cases of water contamination. In those cases, they say, wells weren’t properly sealed with subterranean cement, which allowed contaminants to travel up the well bore from deep underground into shallow aquifers that provide drinking water.
Many community activists have said that hydraulic fracturing itself—a process that uses water, sand and chemicals to break up shale rocks and release gas—can pollute drinking water. The energy industry has countered that the technique, which it has used for decades, isn’t to blame for water contamination.
The energy industry has been struggling to convince critics that fracking is safe. If the industry can persuade them that the chief pollution risk is poorly constructed wells—and that risk can be minimized—it might encounter less resistance from the public to expanding oil-and-gas production.
Mark Boling, executive vice president and general counsel of Southwestern Energy Co., a major natural-gas producer, said he has examined several incidents in Colorado and Pennsylvania where gas drilling appears to have caused gas to get into drinking water. “Every one we identified was caused by a failure of the integrity of the well, and almost always it was the cement job,” he said.
A. Scott Anderson, a senior policy adviser with the Environmental Defense Fund who is working with Mr. Boling, agreed. “The groundwater pollution incidents that have come to light to date have all been caused by well construction problems,” he said.
Both men are calling for a stronger set of standards for well construction, including better cementing and more testing to ensure that wells and cement have no leaks.
Cement failures have long plagued the industry. Mr. Anderson estimates that cement in about one in 10 wells fails to work properly and requires remedial work. Federal investigators have said that cement problems were a major cause of the Deepwater Horizon disaster in April 2010, when natural gas escaped from an offshore well in the Gulf of Mexico and exploded, killing 11 workers and setting off a mammoth oil spill.
Pennsylvania and New York have adopted new well-construction standards to try to prevent pollution. Ohio is expected to issue new rules this week.
Cementing is an essential aspect of drilling. Energy companies thread steel pipes into bored holes and squeeze cement around the pipes. The cement prevents gas or fluids from moving between the pipe and the exposed rock. A poorly cemented well can create a path for contaminants to migrate upward and leech into shallow porous rocks that hold drinking water.
Some critics say it is the fracking process itself, which takes place far underground, that can cause pollution. Wilma Subra, chairwoman of Stronger, a nonprofit group made up mostly of state oil-and-gas regulators, said that cracks caused by fracking can extend out of the shale and “allow natural gas and frack fluids to migrate out.”
Others say that even if fracking is safe, it doesn’t mean drilling poses an acceptable risk. “You may be able to fix one issue, but it doesn’t make the whole drilling process OK,” said Maya Van Rossum, head of the Delaware Riverkeeper Network and an opponent of gas development in the river’s watershed.
Mark Zoback, a Stanford University geophysicist who served on the National Academy of Engineering investigation into the Deepwater Horizon blowout and more recently sat on an U.S. Energy Department committee that studied shale production, said it is important to focus on the real risks.
“There are three keys—and those are well construction, well construction and well construction,” he said.
In its August report on shale production, the Energy Department committee recommended that companies run tests on every well to identify inadequate cementing, and it called for more inspections to confirm operators promptly “repair defective cementing jobs.”
One of the largest documented instances of water contamination occurred in Bradford County, Pa.—after wells had been drilled but before any fracking took place. Chesapeake Energy Corp., the nation’s second largest natural-gas company, has conceded that poor well construction may have played a role in high levels of natural gas found in local aquifers, according to letters to state regulators.
A state investigation concluded Chesapeake failed to cement its wells adequately, allowing gas to leak from pipes into the groundwater. Chesapeake agreed to pay $900,000 in fines and payments to the state, but never publicly acknowledged it caused the problem. In a news release last May, it said the investigation was “inconclusive.” The company recently declined further comment, citing pending landowner lawsuits.
In an August 2010 letter to the state, a Chesapeake executive said that one of its wells “may be considered to be the most compelling source” of gas that reached the surface. Chesapeake found evidence suggesting the cement in one well had developed small channels that allowed gas to flow through it.
In the settlement, Chesapeake agreed to change how it built wells in Pennsylvania. It has begun using three interlocking pipes, instead of two, which adds an additional barrier to prevent gas movement.
The Oklahoma City-based company said the changes would increase costs per well by up to $500,000, or about 10%.
gluteus (108)-
In a world where fairness trumps rule of law, principal reductions- done en masse- make sense in a weird sort of way.
In today’s climate, it’s just another pandering handout.
“Obama’s gonna pay my mortgage!!!”
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thanks stu…. I guess I got a better deal than I thought. does this mean I can get a home equity loan based on the new assessed value? LOL… We will pull up the comps and see what we can do.
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Nomad #104 and Libtard #106. I’m more likely to use the water-based primer because of the fumes and because I would be painting veneer and I’d be worried about the adhesive breaking down. The veneers are on nice and tight because I used water-based contact cement on the face frames in addition to the sticky backing (a method recommended by Herrick Kimball, who wrote the definitive book on cabinet refacing). Would it be a good idea to perhaps skim-coat the large areas of the doors with joint compound, or would that just crack over time as the wood expands and contracts? Once I decide to do this I’m stuck with it, so if it’s going to be a disaster I would rather just not do it.
This one was just dropped to $624,900. Give me your estimate on the price of this one in 2006.
http://www.trulia.com/property/3074180540-518-Rehill-Ct-River-Vale-NJ-07675
The listing below sold for 350K in September of 2003 for 350K. It looks like it might have been somewhat updated since then. 2 bedrooms 1.5 bath, on the corner of a busy street. Now on the market for 359K. That is 8.5 years of ownership and they did not make a dime, and will loose money. Oh and the taxes are $10,200 per year.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1208926&dayssince=&countysearch=false
Hi All, I have been living in the Iselin-Colonia (Woodbridge township) area for 14 years renting and watching the markets, and just got into the buy mode. It seems that this spring there have been very few homes that have come into the market compared to springs of earlier years. Is it just in my area, or is this some other wider thing, and what do you think is the reason ? Thanks in advance for all the thoughts and opinions.
For some people it will always be 2006. The below listing (no picture yet), 3 bed 1 bath with the family room in basement offered at 419K!!!! Even more shocking is the fact the present owners paid 443k!!!! in 2009. I feel bad for the buyers, I really do. But they would be lucky to get 350k for this house now, which is what they should have paid for it in 09. Oh and the taxes are a whimsical 9,100 a year.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1209061&dayssince=&countysearch=false
Property tax collections to start downward trend
http://www.usatoday.com/money/perfi/taxes/story/2012-03-12/property-tax-revenue-decline/53501194/1
More than five years after real estate prices began to tumble, Americans are finally starting to get property tax breaks on their devalued homes, a USA TODAY analysis finds.
According to a USA TODAY analysis, property taxes are finally declining on devalued homes.
Cities, counties and school districts today collect 20% more in property taxes than they did in 2006, when home values were one-third higher than now, but the tax tide is slowly starting to recede.
Last year, property tax collections rose just 1.2% — and actually declined 0.9% when adjusted for inflation, according to data from the federal Bureau of Economic Analysis. That’s the first time property tax collections have fallen below the inflation rate since 1995 and only the third time in 40 years.
If the downward trend continues, property taxes may actually bring in fewer dollars this year than last even before adjusting for inflation. That hasn’t happened since the Great Depression.
Property taxes generated $436 billion last year, about $66 billion more than in 2006 when home values peaked. Public schools get about 40% of this money. The rest flows to other local governments.
Most states have complex laws that make property tax declines rare, small or long-delayed, even when home values plummet. This makes the property tax stable during economic turmoil, unlike the income or sales tax.
“People say, ‘Hey, my house value went down. How about my tax bill going down?’ But it doesn’t work that way,” says Robert Ross, chief assessment officer for McHenry County, Ill., near Chicago. In Illinois, assessments are based on a formula that considers home values as far back as seven years.
School districts, already suffering from reduced state funding, are feeling the property tax squeeze most. Public schools have cut 270,000 employees — 3.3% of their workforce — since July 2008.
“We’re doing everything we can to save classroom teachers,” says Alexandra Nicholson, superintendent of West Northfield School District 31, which gets nearly all revenue from property taxes.
The district will ask voters to approve a property tax hike on March 20 to avoid the elimination of sports, band, busing and educational assistants.
Delaying lower property taxes:
•Tax limits. Most laws that cap property tax hikes have a little-known flip side: limits on decreases.
•Delayed assessments. Many states base tax assessments on a home’s value three, six or even 10 years ago — or on an average of multiple years. The practice protects homeowners from fast-rising taxes when home values soar, but it also delays tax cuts when values fall.
•Shared sacrifice.New York, Ohio and many other states automatically raise property tax rates when real estate values fall and cut rates automatically when values rise, a practice called equalization.
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[111] Meat,
Precisely what I was thinking about when I read Fabius’ link.
And for those who forget . . .
http://www.youtube.com/watch?v=P36x8rTb3jI
This morning, I was returning from walking my 8YO to school and ran into her math teacher, who was walking into the school. On her lapel, prominently displayed, was her Obama campaign pin.
No indoctrination here.
Nom 126 A call to the Board of Ed?
The real value of housing in Detroit is 30 percent less than it was when Case-Shiller started tracking the city in 1991, and 52 percent less than it was a decade ago. Any real estate agents who told homebuyers that housing prices only go up deserve a place in the pantheon of great liars along with Pinocchio, Joe Isuzu and the Grand Duchess Anastasia.
SRK ,
This is a GREAT time to buy but you don’t expect sellers to just give away their houses, do you? I bet many potential sellers are waiting for home prices to “get back to normal .”
“People say, ‘Hey, my house value went down. How about my tax bill going down?’ But it doesn’t work that way,” says Robert Ross, chief assessment officer for McHenry County, Ill., near Chicago.
Translation: If a f*cking meteor the size of Camden hits the earth, you’re still getting screwed.
[126] mike
Probably a call to the mayor is better. After all, the BOE is left-leaning, the town is not. And I am not worried about blowback for two reasons: First, I am about to get in the BOE’s face for other reasons, and second, there is a decent chance that we will be decamping from NJ in the near future.
Nom [125],
It’s for the children. (sniff… sniff… pulls out hanky, wipes tear away as violins play)
“We’re doing everything we can to save classroom teachers,” says Alexandra Nicholson, superintendent of West Northfield School District 31, which gets nearly all revenue from property taxes.
Solution: reduce eveyone’s salary by 10% and make them pay a higher portion of their health coverage.
I’m leaving for my interview. If you don’t hear from me, I murdered the hiring manager. ;) Ciao!
Gary,
If an individual house declines in value, a homeowner can see lower taxes. When the entire how’s values drop, up goes the millage .
#25 comrade: If you challenge the BOE, or the teachers or administration, your children will pay,guaranteed.
What people forget is if I grieve my 2012 taxes and win a reduction of 5% in value it is meaningless untill I know what everyone else got. In theory if 1,000 homeowners grieve and average win is 20% and I got 5% my taxes will go up.
People dont grieve their taxes they greive assessed value. For instance in Nassau county they assess most homes at the cheapest comps possible such as short sales, estate sales, reos, firesales and then assess your home slightly below these cheap comps. Then they adjusted tax rate so they get the same if your house was assessed at market. Since you can only grieve based on price you see hey they assessed my split at 330K then you see average homes selling for 390K near you and bank properties selling for 340K and you can’t grieve as you have no comps. Truly a smart thing for town to do and NJ should do it.
Shore Guy says:
March 13, 2012 at 8:47 am
Gary,
If an individual house declines in value, a homeowner can see lower taxes. When the entire how’s values drop, up goes the millage .
Meat and Fabius can finally agree on a tax hike:
http://www.economist.com/blogs/freeexchange/2012/03/taxation-0
Fabius likes it because it hikes taxes and he doesn’t believe in the outmigration anyway, and Meat likes it because the UK could get nondoms and Newcastle could get some better players (assuming you believe in tax-induced outmigration).
Get a job like me so you are not wandering the streets in the morning. I thought in New Jersey 8 year olds have already graduated school. Judging from Snookie and Paulie on Jersey Shore they cant have more than a first grade education.
Comrade Nom Deplume says:
March 13, 2012 at 8:26 am
This morning, I was returning from walking my 8YO to school and ran into her math teacher, who was walking into the school. On her lapel, prominently displayed, was her Obama campaign pin.
No indoctrination here.
[135] 3b
I don’t doubt that there will be blowback, but I can hold out the carrot along with the stick. The first carrot says “My legal costs are a lot lower than yours” and the second carrot says “You’re going to spend 3x as much fighting me.”
And for reasons I won’t get into here (aside from the one about not being in NJ this time next year), I am not worried about how the schools may “punish” her. I’ve been working for over a year to build a record and get admissions. I put them in a box where I can impeach virtually every argument they make, and can turn up the screws on them each time they try to turn them up on me.
You sound like a writer for the TV show Lost. Is there a button you have to keep pushing and will you be time traveling or something. The whole thing is kooky.
I’ve been working for over a year to build a record and get admissions. I put them in a box where I can impeach virtually every argument they make, and can turn up the screws on them each time they try to turn them up on me.
Thanks @128 Shore Guy. It’s true that sellers arent giving in. Whatever houses are there in the market are priced quite high compared to 2011 comparable sales and been listed for a long time, but since I am not interested in any of them didnt get to negotiating on any of them, dont know how much sellers would have climbed down. I was just waiting for some new sizable inventory to come to market in Jan-Feb which usually happens here always, even last year, and that hasnt happened this year. I have waited to buy for so long, I dont want to buy something that does not interest me, especially since I know there are some interesting homes in this area. Kicking myself for not buying last year, some very good houses and nice prices. Was in a position to buy, but just procrastinating, not because I thought I would get a better deal later, but just laziness.
Shore Guy says:
March 13, 2012 at 8:38 am
SRK ,
This is a GREAT time to buy but you don’t expect sellers to just give away their houses, do you? I bet many potential sellers are waiting for home prices to “get back to normal .”
#139 comrade: Understood. But they won’t go after you, they will go after your child.
Friend of mine at the Doral in Fla. just got full asking price Cash after Trump announced takeover.
Last year I wasnt monitoring RE closely, but from what I remember from 2011 and 2010, the foreclosure listings (at different stages) for our area used to be several pages, but there are only a couple pages now. May be that’s why the boomers in our area who might have been otherwise selling now (to move elsewhere) are perhaps holding on for an extra 5% to 10% extra next year. Is the foreclosures listing small because of the 2010 hold, and will they likely increase again ? Or has our area (Iselin-Colonia) perhaps stabilised ?
Economy and Jobs are much better.
Shorts Sales, REOs, and BKs are clearing in good towns
Rates are super low
People have modified mortgages or refinanced
Every year that goes by more of mortgage gets paid down, more skin in game.
At this rate by 2015 all 2002-2008 mortgages will be “seasoned” meaning people have either lost the home, refinanced home, sold home or plan on sticking in them long term. The crisis is getting behind us. However, home gains are so small they are not beating inflation or stock market for awhile to come. Someone with downpayment in blue chip stocks, munis, investment grade bonds, cds, Ibonds and short term treasuries can wait till housing picks up steam before diving in. It aint beating the 6-7% interest they are getting for a long time to come.
SRK says:
March 13, 2012 at 9:28 am
Last year I wasnt monitoring RE closely, but from what I remember from 2011 and 2010, the foreclosure listings (at different stages) for our area used to be several pages, but there are only a couple pages now. May be that’s why the boomers in our area who might have been otherwise selling now (to move elsewhere) are perhaps holding on for an extra 5% to 10% extra next year. Is the foreclosures listing small because of the 2010 hold, and will they likely increase again ? Or has our area (Iselin-Colonia) perhaps stabilised ?
SKR [144];
According to the gubmit, the problem was all the foreclosures (lots of bad press; people getting removed from ‘their’ houses; decrepit abandoned cr@pshacks — previously merely decrepit — blighting neighborhoods, etc.). So the courts and some arm-twisting of the banks stopped the pipeline.
That means the problem went away, right?
re: #144- A tidal wave of forclosures in NJ is coming. I don’t know yet if the whole village will be swept out to sea with it, but if you look at what occurred in some other States foreclosures had a large negative effect on housing prices overall.
Here is a WSJ article on January filings. Seems they are up 30%. One month does not make a trend, it may not yet be the best time to go swimming.
http://blogs.wsj.com/developments/2012/03/06/are-more-new-foreclosures-a-good-thing/
re # 145 – “People have modified mortgages or refinanced”
Yup just back from the Midwest, my underemployed FIL was pre-approved for a refi at 3.85%. Dunno how they can do it when they don’t have much income but the bank is doing it anyway, some kind of HAMP mod apparently.
# 45 Economy and Jobs are much better.
Almost half of the jobs created last month, were part time or temporary, same with the revisions upward for Jan and Dec. These jobs are all low paying, with no benefits.
Jobs are much better, compared to what??
Banco Popular up 44% YEAR TO DATE – Chifi, can you know stop making fun of the best puerto rico bank with unpaid tarp funds in the world.
Would it be a good idea to perhaps skim-coat the large areas of the doors with joint compound, or would that just crack over time as the wood expands and contracts?
You pretty much never want to put joint compound directly onto wood. It will expand and contract and cause pitting and cracking. If you need to fill holes in wood there are products for doing that but aside from that you would want to strip off any gloss that is on the cabinets, use sandpaper to remove any blemishes in the wood, and then you are free to repaint and seal if necessary.
I prefer wood putty for filling holes in wood. Matched to the right color it completely dissapears. It isn’t good for large areas though as it becomes visible.
I agree Nicholas. Wood putty is awesome and skim coating should not even be considered an option.
You have obviously have never been to a Nets game
March 12, 2012 at 8:52 am
Mike [3];
Mike 1 Somebody will grab it, an ass for every seat
Like our dear host would say, there’s nothing the right price can’t fix. One can still shake their head at the waste of value in the meantime.
re# 149 – 3B – The new normal, part time work. Might as well call it what the Japanese do “Arubaito” and make sure you say it with some gusto.
Over the last decade part time employees have gone from being a rarity in Japan to accounting for one-third of their entire workforce.
I think Japan is a crappy example. Their demographics are completely different than the US. They have a shrinking working age demographic there. Retiring age people are growing at a faster rate. Also, it’s possible, that many of the “temp” workers are from other countries like Korea and China/Taiwan etc. Those people are just happy to have work and a better life. Also, I think the government picks up the tab for the majority of their healtcare costs. So, it wouldn’t be as scary for them to work a job without benefits.
154.Juice Box says:
March 13, 2012 at 10:42 am
re# 149 – 3B – The new normal, part time work. Might as well call it what the Japanese do “Arubaito” and make sure you say it with some gusto.
Over the last decade part time employees have gone from being a rarity in Japan to accounting for one-third of their entire workforce.
#155 – Brian history sometimes rhymes, it never repeats exactly. We are performing our own version of the Japanese Kabuki that occurred over the last three decades. The Japanese Housing Crisis and the Japanese lost decade with our own American flavor, do you really think ZIRP was created out of thin air? It was their policy from 1998 through 2005.
You can do your own research on the subject of temporary employment in Japan and the US. You will find differences for sure, since we import much more labor than they do but the regular workforce in Japan (as in Japanese nationals) of 67 million is now fully 1/3 rd part time workers.
FYI I sat through a meeting where one of our Harvard MBAs recommenced we not hire and staff up for growth but outsource everything. And that is exactly what we are doing, the C-Suite hasn’t approved many full time hires, outsource, outsource, outsource is our motto.
Thanks Juice Box (147), Anan (146) and JJ (145),
A recovery will be good, but even in recovery I guess prices wont jump by 30% in 6 months like they did in ‘those’ days, so it wont hurt to wait awhile, if not for better prices, at least for more choices. If prices go up 5% next year, so it be. One cant and musnt time the market on a primary residence I guess :-) But to get into foreclosure market is also so unappealing, I saw a house which seemed like folks had taken axe and hammer to before leaving – a little scary to think of all the negativity left behind to soak into those walls ! Just hoping for some boomers to come out of the wood-work and sell ! Ah, funny thing is I am a boomer myself, a late bloomer I guess, buying when others are selling. Kids have left home (rented apartment), but want a home when grand-kids come along.
Juice Box says:
March 13, 2012 at 9:45 am
re: #144- A tidal wave of forclosures in NJ is coming. I don’t know yet if the whole village will be swept out to sea with it, but if you look at what occurred in some other States foreclosures had a large negative effect on housing prices overall. One month does not make a trend, it may not yet be the best time to go swimming.
I like the Japs, they have those nice women who pour you tea and push the elevators buttons at the office buildings. We need the here.
So funny story, every kid is getting those ugly huge trampolines. My kids begged and begged so they it was on sale at toys r us so I go one. OMG I get it home and it is twelve feet wide by 12 feet tall with the net. What an eyesore. Plus I can’t put it in middle of yard as it will kill grass and I have sprinklers. So I have to jam it against a fence. Luckily my neigbor to right as sold his house and pending closing. Imagine joy of new neighbor when he sees a trampoline right next to his house. Well at least he did not get the pool next to his house. Luckily they will be bouncing like crazy for a few weeks and that will be it. Unlucky for them it will be there first summer. I personally hate me backyard. One day I took off work and lots of kids was there. Funniest is neighbor with three kids who hates kids sent them all to sleep away camp. Meanwhile he used to sit in deck or by his pool all sumer in complete relaxation while his three kids were at camp. Now his kids are 20-30 and he gets to listen to my kids, I love when he keeps asking are you sending them to camp. I was like I do it is half day. But they have play dates so you never know what is going to happen.
People notice the difference in service. They closed one of our two global help desks here in the US in 2008. They kept one in the US and now the other is in Hyderabad. Sure, the company probably saved a bundle but everyone refuses to call the Hyderabad office. They either wait for the US office to open in CA, or they call the field guys directly even though they are constantly warned to log their call through the help desk. At the end of the day, they need their problem fixed and they’re tired of getting the run around from the Hyderabad guys.
In 1999, they outsourced the local desktop techicians in all of the offices to HP. After nearly a decade of decreased quality of service and constant complaints, they finally finished an insourcing campaign where we bought the contracts of the good HP techs and hired them full time and brought in some other full timers.
The pendulum just keeps swinging back and fort, quality versus cost. Outsourcing, insourcing, and offshoring. We seem to be going in circles.
156.Juice Box says:
March 13, 2012 at 11:01 am
#155 – Brian history sometimes rhymes, it never repeats exactly. We are performing our own version of the Japanese Kabuki that occurred over the last three decades. The Japanese Housing Crisis and the Japanese lost decade with our own American flavor, do you really think ZIRP was created out of thin air? It was their policy from 1998 through 2005.
You can do your own research on the subject of temporary employment in Japan and the US. You will find differences for sure, since we import much more labor than they do but the regular workforce in Japan (as in Japanese nationals) of 67 million is now fully 1/3 rd part time workers.
FYI I sat through a meeting where one of our Harvard MBAs recommenced we not hire and staff up for growth but outsource everything. And that is exactly what we are doing, the C-Suite hasn’t approved many full time hires, outsource, outsource, outsource is our motto.
#139 – sounds like a great hobby!
p.s. – can i get an application for the school? would love to get my kids in.
Brian #159: Are you looking for more techies? I got a really good one at home who needs a job. Full disclosure: He’s over 50, but up to date on all except Linux.
1st Bapu- Chal Bau Modu Thai Gayu Chhe Band Kar Have Aa Chess.
2nd Bapu- Ha Yaar Aam Pan Taro Ghodo Ane Maro Hathi J Baki Rahyo CHhe.
what the heck someone sent me an indian joke in error, what the heck does thai gayu mean?
Nom-
Which school is your child at? We’ve been generally happy with Tamaques so far, but we might be completely in the dark about other happenings.
Racf, unix, basic, fortran, cobolt and IBM mainframe experience, with special emphsis on punch card technology. Experienced in Vacum Tube replacement and shaking toner cartirages. Knolwledge of Wang and Bunker Ramo terminals. Software includes, Lotus, wordperfect, wordstar and I can program in basic how to flip a coin. Hobbies include astroids and space invaders.
Jill says:
March 13, 2012 at 11:23 am
Brian #159: Are you looking for more techies? I got a really good one at home who needs a job. Full disclosure: He’s over 50, but up to date on all except Linux.
What the heck did you have for breakfast? You are in full brass ball busting mode today.
164.Brass Balls AKA JJ says:
March 13, 2012 at 11:29 am
Racf, unix, basic, fortran, cobolt and IBM mainframe experience, with special emphsis on punch card technology. Experienced in Vacum Tube replacement and shaking toner cartirages. Knolwledge of Wang and Bunker Ramo terminals. Software includes, Lotus, wordperfect, wordstar and I can program in basic how to flip a coin. Hobbies include astroids and space invaders.
The listing below looks like the Munester’s House (for those who remember). I guess the Realtor/owner are counting on the blue ribbony train town thing.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1205491&dayssince=&countysearch=false
First, I’m not a hiring manager and secondly we’re fully staffed in the NY/NJ area. But, if you’re hubby hates his current job, he should be applying to at least five places a week. Don’t bother with a recruiter, try going directly to company webpages or dice.com or monster.com. And if he hates contract work that much, don’t ever apply to anything that says contract or temp to hire etc. Put negotiable for salary. If he’s that good, just get him in front of a hiring manager.
Also, I always see people in tech studying like they are going to be tested on their knowledge. I don’t think I was ever asked a technical question on an interview. That stuff was ironed out on the resume. One interview I was on, they introduced me to the rest of the geeks and just wanted to make sure I would fit in with the crowd. They asked me questions like are you selfish, do you like to share passwords etc. They were more concerned that as I installed infrastructure I wouldn’t share information so they could fix it and be the hero too.
161.Jill says:
March 13, 2012 at 11:23 am
Brian #159: Are you looking for more techies? I got a really good one at home who needs a job. Full disclosure: He’s over 50, but up to date on all except Linux.
You know what I would bring in a resume like that, those would be brass balls.
Brian says:
March 13, 2012 at 11:35 am
What the heck did you have for breakfast? You are in full brass ball busting mode today.
164.Brass Balls AKA JJ says:
March 13, 2012 at 11:29 am
Racf, unix, basic, fortran, cobolt and IBM mainframe experience, with special emphsis on punch card technology. Experienced in Vacum Tube replacement and shaking toner cartirages. Knolwledge of Wang and Bunker Ramo terminals. Software includes, Lotus, wordperfect, wordstar and I can program in basic how to flip a coin. Hobbies include astroids and space invaders.
[163] daddyo
“Wilson Prep” as I have heard it called.
[142] 3b
They can try.
[160] seif
Going after my kid? You’re about a half snark away from me hunting you down.
For those of you preparing for the end of the world and building bunkers hoarding food and whatnot. It’s apparently mainstream enough to make the news on CNN.
My doomsday tab: $130K on bunkers, guns and more
http://money.cnn.com/2012/03/13/pf/doomsday-cost/index.htm?iid=Lead
[171] brian,
It has actually become a cottage industry. But it points out one of the defects in prepping that caused me to envision the Nompound:
“Anyone can become a prepper if they are willing to dedicate the energy and resources to it.”
Well, not everyone can do that, or is willing to do that, and prepping will remain an insurance policy for those with means and a hobby for others. That’s why the Nompound is supposed to be prepping for the rest of us.
There are actually lots of Nompounds, and a surprising number of them were created by liberals, which led me to wonder if liberals’ sense of community (or communality) makes nompounding more likely than among conservatives who prefer the go-it-alone or close family unit models. To me, the latter ignore one of the principal strengths in nompounding, the ability to leverage numbers for any task, from food production to defense.
It’s an interesting observation to make, the psychology of nompounding. Perhaps it also explains why one of my friends who is simpatico with the idea is a hard core leftie.
[163] daddyo
Tamaques is fine, as is Edison. Heard lots of good things. Wilson is apparently famous for having the town’s allocation of self-important, self-absorbed brats sired by WS types. The girls here are candidates for the popular/mean girl contingent at Roosevelt, which has its own issues from what I understand.
I am giving serious consideration to getting the BOE to let me move her to Franklin, and if we are still in town, middle school at Edison.
On the plus side, my 3YO just loves to play soccer and seems to get the concept pretty well. We likely won’t be in Jersey, but if we are, and it comes time for travel, I may have her try out in Scotch Plains as well, and if she makes travel, let her play in SP. Ironically, their fields are closer to me.
haha – Wilson Prep, classic. Can’t believe I had not heard that before.
We’re on the ghetto south side.
By the way, I never ended up going to the North Brunswick brew shop, my Northern Brewer package came 3 days early.
If you drive down Grove this weekend and see someone brewing in the driveway and chasing kids around, that’s me.
[171] brian,
I’d also consider a book or blog called The Frugal Prepper but it’s already taken. So I should team up with Stu and write a book “Captain Cheapo: American Prepper”
[174] daddyo
That is always a possibility but I don’t usually take Grove except as a detour to South Ave from Doowrag.
Long street. You on East or West?
[174] Daddyo
When I was living in a rental, we were slated to go to Washington. Wish we did. But then we found and bid on a house near Wilson and changed registration. I mentioned it to a partner at my old firm, a south sider who used to be on the Town Council. He sneered and said “you’re sending your kids to Wilson Prep?”
At the time, I did not understand what he was getting at. I do now.
I’d like to think that our sense of community would get us through a disaster. I guess it would depend where you live. In New Orleans, people looted the crap out of the city and it decended into chaos, NY in 911 and during the blackout, people came together and helped each other out. Counless cities are hit by Hurricanes from time to time and they come together for the most part and rebuild.
I read once that the biblical story of sodom and gomorah was actually based in some truth and that an ancient asteriod hit austria. The burning fallout rained down on the surrounding areas destroying aincient cities.
http://www.theregister.co.uk/2008/03/31/kofels_asteroid/
There’s always the threat of some crazy thing happening and when it does, you’ll feel vindicated. I guess it’s human nature to worry about this stuff though. That’s why there are so many disaster movies. For me, I’m just going to go about the business of my daily life and I’ll deal with it as it comes. When it does, I hope I have the integrity to help others and that will define my character as a person.
172.Comrade Nom Deplume says:
March 13, 2012 at 12:25 pm
[171] brian,
It has actually become a cottage industry. But it points out one of the defects in prepping that caused me to envision the Nompound
“Captain Cheapo: American Prepper”
That’s a great idea…I’ll give you 10% of the proceeds and an author’s bio on the back inside flap.
Another question – how good/bad are zillow zestimates ? In my area zestimates for recent sales are mostly + or -5k, and in a few cases -50K (assuming foreclosure) and sometimes +25-35K (assuming special appeal house). btw, I just offerred +34k over zestimate on a special house (which was still 10% less than what was paid for the houses to its right and left in 2009 and 2010) , I was 4k over the accepted offer, but mine was a day late, the other offer had been accepted and in attorney review the previous day. The house had an accepted offer within 10 days of listing.
Brian [167],
I just finished up on an interview. It went well and the guys I met were great. But, I had a 10 page technical test I had to take. Ugh! I think I got most of it but it seemed like they just wanted to gage where I was at. It’s an IT services firm with tons of exposure to different technologies.
Gator and I had to take separate cars to the train station today since she has to go to an appointment after work. This left me at the daily meters in Bloomfield. Lo and behold, they raised their meters by 50%. Got to pay those meter maids their raises I suppose. So I went online to see the reasoning behind the increase and apparently they raised their meter rates to be in line with their neighboring community of Montclair. I then decided to look into what other towns are charging. Low and behold Verona and Caldwell too recently raised their meter rates. Why? To be in line with that of Montclair. What a criminal enterprise our local governments have become.
Gary…I hope you get the job. If you don’t, might I suggest you join the public sector.
SRK: Zillow is worse than useless. Really. Download all the data from here and run some queries if you want to know what the house should sell for.
http://tax1.co.monmouth.nj.us/cgi-bin/prc6.cgi?&ms_user=monm&passwd=data&srch_type=0&adv=0&out_type=0&district=0708
Hey…what ever happened to that Drudge report retread? Qwerty? Was that his name? It’s amazingly less partisan around here now that he’s gone.
Libtard [183],
Thank you! I worked in the public sector for 5 years back in the early 90s. I had to get out because besides starting to turn into a vegetable, I was actually starting to feel guilty getting paid to do very little.
We’re on the corner of Grove and Boulevard. You’ll either see me brewing beer or playing soccer, that’s all we do on the weekends right now.
Nice location for schools, can walk to everything. It would be perfect if the house were a bit bigger, but it’s a rental and LL’s are great, so we can’t complain.
Glad it went well. I hope yie get an offer. The more interviews I went on the more confident I felt. You get to understand the experience and you know what to expect. I think it helped me because I had more confidence in my interviewing abilities and was more able to concentrate on selling them on how I could improve their infrastructure.
181.gary says:
March 13, 2012 at 12:50 pm
Brian [167],
I just finished up on an interview. It went well and the guys I met were great. But, I had a 10 page technical test I had to take. Ugh! I think I got most of it but it seemed like they just wanted to gage where I was at. It’s an IT services firm with tons of exposure to different technologies.
Brian (cont…),
There were questions like asking to fill in the protocols (names) for a slew of port numbers on the TCP stack. I’m supposed to remember that? lol!
BTW, I’m still interested to know if anyone has a 2006 price for the house I linked in post 118.
170 – going after your kid? not at all. i WANT my kids in a school where the teachers wear Obama pins on their lapels. it saves me a lot of the indoctrination work at home.
the ‘sounds like a fun hobby’ was reference to this: “I’ve been working for over a year to build a record and get admissions. I put them in a box…”
no offense meant, just humor.
Thanks Libtard@183. This is the site I used to find out the sale prices of the 2 adjoining houses.
Libtard and the City says:
March 13, 2012 at
SRK: Zillow is worse than useless. Really. Download all the data from here and run some queries if you want to know what the house should sell for.
http://tax1.co.monmouth.nj.us/cgi-bin/prc6.cgi?&ms_user=monm&passwd=data&srch_type=0&adv=0&out_type=0&district=0708
Fed Funds rate remains unchanged
“Fed Funds rate remains unchanged”
Just like your underwear?
Productivity is up with less workers.Technology doing the work of humans.Won’t a declining population be good for employment?
really nice article, thanks for them good post.http://www.calculadoradocidadao.com
Brian #167 said:
First, I’m not a hiring manager and secondly we’re fully staffed in the NY/NJ area. But, if you’re hubby hates his current job, he should be applying to at least five places a week. Don’t bother with a recruiter, try going directly to company webpages or dice.com or monster.com. And if he hates contract work that much, don’t ever apply to anything that says contract or temp to hire etc. Put negotiable for salary. If he’s that good, just get him in front of a hiring manager.
Also, I always see people in tech studying like they are going to be tested on their knowledge. I don’t think I was ever asked a technical question on an interview. That stuff was ironed out on the resume. One interview I was on, they introduced me to the rest of the geeks and just wanted to make sure I would fit in with the crowd. They asked me questions like are you selfish, do you like to share passwords etc. They were more concerned that as I installed infrastructure I wouldn’t share information so they could fix it and be the hero too.
************
Contract is up soon. He’s had a bunch of tech interviews that he passes with flying colors, as long as they are on the phone. Then he goes in for the in-person interview and the kids decide they don’t want to work with “Dad.”
Won’t a declining population be good for employment?
That’s the whole purpose of Oblamacare.
That’s unusual. I guess they grilled you because they were a tech firm. Is it a place business go to when they want to outsource or something? Maybe they use your test as a way to figure out where to place you.
I never applied to a place like that. My brother works for ACS and I thought about applying there but, it didn’t seem like a good fit for me. I always worked for firms in the Financial Services biz and I’m comfortable with that. I feel like I understand their business plans and how they interact with regulators. I also scored interviews with a few insurance outfits.
188.gary says:
March 13, 2012 at 1:00 pm
Brian (cont…),
There were questions like asking to fill in the protocols (names) for a slew of port numbers on the TCP stack. I’m supposed to remember that? lol!
Jill [196],
You continue to hit the nail on the head.
Brian [198],
I’ve worked for financials/insurance for what seems like forever. This was a pure tech firm, which I would welcome. The ultra geeks will keep me on my toes. :)
Issue is work is a pyramid scheme. Average department is like this 10 staff, 5 AVP level, three VP level and one Head of.
Staff is in their 20,s AVP late twenties, early thirties, VP late thirties to early 40s and Head of mi 40s to mid 50s before squezzed out.
Looking at this imaginary department of maybe 30 people and if is clear these is only one job for a 50 year old the Head of Spot, maybe at best a VP spot. The majority of jobs are at the staff or AVP levels. The sweet spot in hiring is 24-29 year old. You have experience, energetic, dont need training and usually single or a DINK. Plus you are not a threat to the boss being two or three levels down.
You husband would be either going for the head of job, very few, second in command job equally rare. If he comes in at the third level he is working with the kids who may feel he is too old and even if hired coming in at low pay, great experience and hungry the person in charge knows he just put his job in jepordy. The 50 year odl boss making 400K a year cant have a 50 year old staff person just as qualified or more qualified making 150K, first cost cutting they are out the door.
It gets worse as you age, by 65 all that is left is board of directors jobs or mcdonalds.
Plus the boss wants to keep his people happy. The 27 year old low man on toten pole who is youngest in dept who is a great worker cant make manager unless he has someone to manage. The boss has to hire somone younger than 27 with less experience to give him the opportunity.
I have a buddy who is 55 and he says straight up I only hire under 30 and over 55. He lost two jobs by bringing in the best candidates at the level one or two below him who were ten years younger and making 100K less. Plus he says people over 55 have great work ethic as they are happy to have a job and people under 30 have a great work ethic. It is win win for company.
Jill says:
March 13, 2012 at 1:34 pm
The techie companies are a little goofy with their bring your dog to work day stuff. I do however wish I worked there when I was younger instead of stuff banks. I have been in banking/brokerage the longest of anyone I know. I got my first full time in Banking at 18. Lots of my original bosses from 18-25 are long since dead. Back then the boss was like 55. It was a lot better being boss back them. They would go to a liquid lunch on Friday and come back stinkin drunk and yell get the work done take a nap and then go home at five pm. Us staff all prayed for day we would be boss. Now I am boss and now staff has the life with employer of choice. And boss is screwed.
gary says:
March 13, 2012 at 1:49 pm
Brian [198],
I’ve worked for financials/insurance for what seems like forever. This was a pure tech firm, which I would welcome. The ultra geeks will keep me on my toes. :)
Jill, there’s not a person in my department that i work with on a regular basis that’s under 35. Maybe it’s a coincidence but I’m just sayin. Don’t let your husband talk himself out of a job.
Someday, I will be JJ’s boss and I will fire him because he is too old. Those old guys just don’t understand anything. What do they know.
That is why I never tell my age at work. I have little kids, heck I have a kid in pre-school. I go cool places, drive a cool car, go to gym and dress young. I also hang out with young people. For instance I am hiring in the last year and I like to hire young people. Got a few class of 2009 people this week. Perfect age. Two years of out school. I like them young and motivated. The person I am replacing was a class of 2003 person, you know they get to that age where they hit 30 and start to sag. Kinda like Courtney on the Bachelor last night, Ben picked her even though she is a bi%ch cause she is smoking hot, but come 30 it aint cute anymore. Brian I have to hire you before you age one me. Lucky for me I have an image in a mirror that ages but I dont.
Brian says:
March 13, 2012 at 2:10 pm
Someday, I will be JJ’s boss and I will fire him because he is too old. Those old guys just don’t understand anything. What do they know.
big rip your face off rally in banks today!!! Chase just tore this rally wide open. Chase is only one of three stocks I actually own directly. Jaime Dimon is a rock god. only downside was I want to sell some for awhile and now with a bull market and all time to take some profits. Chase I love you.
None of us are going to grow old.
Extinction event, dead ahead.
Yes a lady never reveals her age right? I went to school at night and it took me like twice as long. Hiring managers must look at my graduation date and work history and think WTF?
jj (206)-
Enjoy owning shares of Satan.
“Dear Mr. Dimon,
Why do you impugn your character and reputation by allowing your firm to engage in these immoral activities? Sure, the regulators have failed to assess you any meaningful punishments that would deter you from this conduct on a strict, short-term dollars and cents analysis. Every penny of earnings counts, I get it. But, sir, you do not strike me as someone who is trying to pump your company’s stock price for a quarter or two. You are the face of JPMorgan Chase and, I would assume, you plan on being there for a while. Why intentionally destroy any and all goodwill your firm has to make additional revenue that is mostly insignificant in the short-term and, quite possibly, deleterious in the long-term? The only reason I can think of is: because you can. And, that, sir is where hubris starts.”
http://www.zerohedge.com/news/guest-post-open-letter-jamie-dimon
There is an asteroid named Snookie speeding towards Jersey City right now. Get out while you can. Head to Sussex county for safety.
207.There Went Meat says:
March 13, 2012 at 2:24 pm
None of us are going to grow old.
Extinction event, dead ahead.
My assistant manager just passed by Snooki up the block. I told him he should take a hazmat shower.
Brian (210)-
Sussex Co. is only safe for people who have three chromosomes.
I worked with Jaime at Shearson. Him and Peter Cohen were the devil. Recall him requiring us to return pencils less than three inches, ball point pens that were empty to get new ones, one at a time. Loved the idea to cancel exterminators and take away lunch and dinner break. The rats would run across your legs at Shearson while working. Also love no air conditioners in back office.Peter Cohen famously said the monkeys in the bronx zoo dont have air conditioning why should the back office. From a sharefholder perspective he is great. I could care less how he treats his employees or in fact his clients. Raise you dividend, buy back stock and keep making bond payments. I am a share holder and a bond holder of Chase. and through entire financial crisis I never worried for one second he would default on my Chase bonds.
There Went Meat says:
March 13, 2012 at 2:31 pm
jj (206)-
Enjoy owning shares of Satan.
“Dear Mr. Dimon,
Why do you impugn your character and reputation by allowing your firm to engage in these immoral activities? Sure, the regulators have failed to assess you any meaningful punishments that would deter you from this conduct on a strict, short-term dollars and cents analysis. Every penny of earnings
Its getting worse as more people from hudson co move here
There Went Meat says:
March 13, 2012 at 2:35 pm
Brian (210)-
Sussex Co. is only safe for people who have three chromosomes.
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Warren Co. is also home to NJ’s best restaurant, Hot Dog Johnny’s.
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