how has the economy hit you?

[KJ Christopher]

They'll probably be asked to design a GM K-Car.... A nice Reliant automobile....

( but not a real fur coat that's cruel)

Right after I typed that, I went in and cooked a Kraft Dinner..... Macaroni & Cheese. The Cheesiest!

They have pre-wrapped sausages but they don't have pre-wrapped bacon. Can you blame them?



Am I the only person who knows this routine?

[Giovanni Jaramillo]

http://money.cnn.com/2009/02/23/markets ... /index.htm

Getting close to breaking into the 6ks for the Dow!! :barf: :barf:

[John Coffey]

Nice chart:

http://www.ritholtz.com/blog/2009/02/be ... 1929-2009/" onclick="window.open(this.href);return false;

[Reijo Silvennoinen]

The scarey part is that the line is most closely following the 1929-1932 line.....

Reijo

[Mari Clements]

Best ways to afford an education---
Be filthy rich
Be a top 2% athlete
Be pathetically poor
Be top .0000000001% scholar

Yeah, well...even those aren't going to help much if things don't turn around. Caltech laid off how many people? Harvard lost how much?

I'm completely sick about Matt's college fund now. He's got $22K in scholarships from one school, and we *still* can't afford to send him there. He's been nominated as a Presidential Scholar (http://www.presidentialscholars.org/" onclick="window.open(this.href);return false;), and he may end up taking off a year to work...

Excuse me while I go be sick.

Sebastian--here's hoping and praying that things recover in time for your son. I believe that they will.

[Sebastian Rios]

Sebastian--here's hoping and praying that things recover in time for your son. I believe that they will.

Dave starts High School next year, the way our 529 plan works is it gets less aggressive as the expected withdraw date nears. It's going to have to make a huge turnaround just to get back what's been lost already, on top of that, a less aggressive portfolio will slow the turnaround when it does come.

[Reijo Silvennoinen]

Best ways to afford an education---
Be filthy rich
Be a top 2% athlete
Be pathetically poor
Be top .0000000001% scholar

Yeah, well...even those aren't going to help much if things don't turn around. Caltech laid off how many people? Harvard lost how much?

I'm completely sick about Matt's college fund now. He's got $22K in scholarships from one school, and we *still* can't afford to send him there. He's been nominated as a Presidential Scholar (http://www.presidentialscholars.org/" onclick="window.open(this.href);return false;), and he may end up taking off a year to work...

Excuse me while I go be sick.

Sebastian--here's hoping and praying that things recover in time for your son. I believe that they will.

Well, you know Mari, it could be a good thing for him to experience the "real world". Can't see it doing him any harm I think ... I was 30 when I returned (yeah, late returner tho' I dabbled in miscellaneous courses in the meanwhile) to university and got that piece of paper. I don't regret being out there working in construction and whatnot and in fact learned more about myself and what I was looking for in life ... gave me more determination to finish etc ... and learned a ton of useful (construction/carpentry) skills that I am currently putting to use! These skills are useful even if don't work in that field....broadens your horizons etc. etc. Lots of positives there!

So, yeah, basically I suppose many people may have to put some plans on hold in the meanwhile but I"m sure we will all survive. This is just a little bump along the way in the bigger scheme of things - IMHO. We might as well enjoy the ride!

Reijo

[Kurt Rahn]

Dave starts High School next year

Max too. I don't know how we're going to pay for it.

[Mako Koiwai]

I was fortunate to have help from my father otherwise we wouldn't have been able to send our Max to private school. But my father was uncommonly generous. We got large discounts from his school all along and he basically got his Senior year free ($22,000), because the school was determined that he graduate from the school that he had been a part of for so long.

One of the advantages of an expensive school is that they can sometimes be generous. Never be to proud to ask about discounts and gifting!

Don't some of the top colleges, Yale/Standford ? now offer basically free tuition. But since the down turn sucked so much out of their endowments, perhaps they won't be able to be so generous now?

Max's current collage recently sent us a message that stating that compared to some schools that have a per student endowment of up to $440,000 (!), his is only around $88,000/student. We're nervously waiting to see how much they will be able to offer us next year. Max is looking into continuing his part time job with the school through the summer. He's said that a number of students have already dropped out and more are planning on not returning next year.

[Mari Clements]

Let's just say my undergraduate alma mater (a little underfunded college in New Haven, CT) sent out emails to alums today from the president indicating what steps they were taking to be able to continue to offer financial aid. Yale is cutting salary expenses by 7.5% (hopefully through attrition, but there almost certainly will be layoffs), no raises if salaries are at $75K or more, maximum 2% merit increases for those whose salaries are below $75, halting all new building design and construction, 7.5% reductions in all non-salary expenditures across the university, etc. They are cutting $37 million from their budget...and their endowment is incredibly well managed (which today means that they only lost 25% of the value).

[George Schilling]

Hey there nothing wrong with blue collar if one is so inclined. I've made a boatload of money and have been very happy doing it. Other than being uber rich, I wouldn't have changed a thing.

[Jeff Shyu]

just got some wind of likely announcement at the office, that everyone's going to be asked to take a 5% pay cut.

i'm not sure i'm going to stay around for that, even though it's a fairly minor amount. Considering i'm one of the highest profit-makers for the company (billable at 90/h and paid at 30/h), and in fact, one of the few people left in the office that's 100% billable for my entire 40 hour week.

it hasn't happened yet, but it looks like it will in a few minutes.

feels like a slap in the face, that i'm asked to take a pay cut, so that many others can sit at their desk not doing anything.

[Kurt Rahn]

just got some wind of likely announcement at the office, that everyone's going to be asked to take a 5% pay cut.

i'm not sure i'm going to stay around for that, even though it's a fairly minor amount. Considering i'm one of the highest profit-makers for the company (billable at 90/h and paid at 30/h), and in fact, one of the few people left in the office that's 100% billable for my entire 40 hour week.

it hasn't happened yet, but it looks like it will in a few minutes.

feels like a slap in the face, that i'm asked to take a pay cut, so that many others can sit at their desk not doing anything.

That blows.

[Aaron Goldsmith]

just got some wind of likely announcement at the office, that everyone's going to be asked to take a 5% pay cut.

i'm not sure i'm going to stay around for that, even though it's a fairly minor amount. Considering i'm one of the highest profit-makers for the company (billable at 90/h and paid at 30/h), and in fact, one of the few people left in the office that's 100% billable for my entire 40 hour week.

it hasn't happened yet, but it looks like it will in a few minutes.

feels like a slap in the face, that i'm asked to take a pay cut, so that many others can sit at their desk not doing anything.

Just make sure you've got something else lines up before you jump ship dude. You know I've made that mistake before.

In an actual on topic comment, I just did my taxes. Turns out I made $1100 less in 08 than 07. Goin into the 3rd year of a pay freeze, but I like my bosses and the people I work with and I've been doing this long enough to know that that's worth a lot of money.

[Steve Ekstrand]

Jeff-

Do you have any gauge of your negotiating strength right now?

[Steve Ekstrand]

I'm avoiding taxes.... Because it will point out to me that I made about a quarter in '08 of what we made in '07....
And that doesn't take into account the unused loss carry forwards from tanked investments.
I don't really want to see the final number.

[Steve Ekstrand]

The shocking news of the past week was that Robert did not get into any of the 6 private schools we applied to for kindergarten.
I'm thoroughly confused by it.

But given the economy, I really wonder if atleast a couple of them might be calling back in a month or two with offers. As Kurt knows, there is probably always money for Polytechnic, but what about the rest? Household incomes are down, educational trusts are down, scholarship offers are down. I can't imagine private elementary schools aren't going to be hurt terribly. Maybe middle school, or high school, or college is a high priority, but I don't think k-3 is something most families wouldn't consider something of a luxury. In our case, we won the lottery to get into Pasadena's best charter school. The odds are like 1 in 5 or 6. So, maybe its for the best. Its a good school and its paid for regardless. Robert's educational trust is in great shape because of the probate snafu's its all in cash right now. Not drawing from it now will make up for a low return this year and if the markets take time to recover.

Just ironic, the kid can afford it, but no kindergarten would take him... A failure at kindergarten? I can't blame the kid his reviews were golden. I guess I pissed on somebody locally. I really don't get it.

[Jeff Shyu]

Jeff-

Do you have any gauge of your negotiating strength right now?

it's as strong as anyone who's not a partner at the office.

like i said, i'm high on value in terms of salary vs. profit, even though i'm high on the salary scale (in fact, the highest one for my job title in the company).

I'm neck deep in every billable project that's ongoing right now, some as "indispensable" and some in "we'll need 2 people to fill his spot" capacity.

the -problem-, however, is that the company is too big, and my program director is not on the board of directors (despite the fact that our program is now bringing in 55% of the company revenue). He'll fight for me, but there's no guarantees, and in fact, it's probably very likely that the board of directors will think they can replace me (which they'd be mistaken about, but they wouldn't know that til after they've already made their decision).

i'm going to start kicking tires, and honestly, i'm going to pick up the study books for LSAT. I have a much stronger interest in law, than i do in architecture.

edit: construction litigation.
edit 2: confirmed, AND, they're stopping 401k matching funds.

[Will Kalman]

If they let you go, offer to work as a contractor at $60/hr pointing out that they won't have to pay you for your down time. But, of course, as busy as you've been, there might not be any down time. And the extra $/hr allows you to be less than full-time busy at the same total income and able to prepare/seek out new opportunities.

[George Schilling]

Just ironic, the kid can afford it, but no kindergarten would take him... A failure at kindergarten? I can't blame the kid his reviews were golden. I guess I pissed on somebody locally. I really don't get it.

Maybe they read our forums!

[George Schilling]

Jeff-

Do you have any gauge of your negotiating strength right now?

it's as strong as anyone who's not a partner at the office.

like i said, i'm high on value in terms of salary vs. profit, even though i'm high on the salary scale (in fact, the highest one for my job title in the company).

I'm neck deep in every billable project that's ongoing right now, some as "indispensable" and some in "we'll need 2 people to fill his spot" capacity.

the -problem-, however, is that the company is too big, and my program director is not on the board of directors (despite the fact that our program is now bringing in 55% of the company revenue). He'll fight for me, but there's no guarantees, and in fact, it's probably very likely that the board of directors will think they can replace me (which they'd be mistaken about, but they wouldn't know that til after they've already made their decision).

i'm going to start kicking tires, and honestly, i'm going to pick up the study books for LSAT. I have a much stronger interest in law, than i do in architecture.

edit: construction litigation.
edit 2: confirmed, AND, they're stopping 401k matching funds.

Jeff,

If you need income, think twice before quitting. Reijo's old engineering firm just closed it doors. The engineering firm where Amalia is the controller is laying off. There's not much out there right now.

[Reijo Silvennoinen]

Yeah....a sure thing (job) is probably good to hang onto now.....I think there are cut-backs on wages going on in a number of places (even outside of the automotive sector).....deflation of everything - well almost.

If you go to a new job you never know what the conditions may be ... end up with a jerk for a boss ... end up leaving that too...etc. It is risky.

What's the old saying? "A bird in hand is worth two in the forest".

Reijo

[Mako Koiwai]

Among Karen's work associates, two senior (around 15 years with their companies) architects, one a VP were recently let go.

In the movie industry we've got great movie box office returns, CA Movie/TV tax incentives ... to match what other states have been offering to lure away our business ... but work is still very slow. Darn Screen Actors Guild's holding out for a better contract is killing things. But, the other actors union, AFTRA, is doing great because they DID sign a new contract. The new Pilots that are being shot are using something like 95% AFTRA actors. (Many actors are members of both unions)

[George Vye]

See thread where my car is for sale.

Can't find the quote, Bobby, but very distressing to learn that you are giving up your Miata. I am worried about the security of my pension.

Those were the days, my friend
We thought they'd never end
We'd sing and dance forever and a day
We'd live the life we'd choose
We'd fight and never lose
For we were young and sure to have our way

Its been clear to me, for several years, ever since I listened to Richard Heinberg speak at UCSB in 2003, that the end of civilization as we know it is at hand. http://tinyurl.com/89d4f" onclick="window.open(this.href);return false;

Capitalism, socialism, communism, libertarianism, it doesn't matter what your ideology of choice is, our species has overrun the Earth and have precipitated the sixth great extinction, from which none of us or our offspring will escape. Anyone who has not read Overshoot http://tinyurl.com/dtveq" onclick="window.open(this.href);return false; does not have a clue.

There is no way that the former economy can be salvaged, based as it was on suburban sprawl and insane energy consumption, including people like me driving around in their 700 h.p. trucks.

Some of you older folks, like me, may be able to escape the worst effects of the coming die-off, but our kids won't. I beg you, don't have kids, and don't let your kids have kids, things are only going to go downhill from here. See

John Michael Greer
The Long Descent: A User's Guide to the End of the Industrial Age
New Society Publishers, 2008
http://tinyurl.com/3kndll" onclick="window.open(this.href);return false;

[Jeff Shyu]

Some of you older folks, like me, may be able to escape the worst effects of the coming die-off, but our kids won't. I beg you, don't have kids, and don't let your kids have kids, things are only going to go downhill from here.