RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (Full Version)

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LaTigresse -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 12:46:55 PM)

And those are the types of lame excuses that keep poor people poor.

Oh poor poor me......... I can't because......I didn't have the advantages of xxxx...........I don't have time.........If only........

Excuses, excuses.




defiantbadgirl -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:00:26 PM)

There are excuses, and then there are facts.

FACT: Many US college graduates are working minimum wage jobs and having their meager wages garnished because they are in default on their student loans. They have no experience, there are too few jobs, and too much competition. Many US college graduates end up in a worse situation than they were in before they went to college.

FACT: There is a new method of student loan payment for federal student loans where payments are based on income and each month counts even when that amount is zero. After twenty five years, any remaining balance is forgiven. However, throughout those 25 years, student loans continue to count on debt to income ratio when a college graduate needs a loan to buy a car or a home. Also, the new method of payment only applies to fairly recent and future graduates It does nothing for those who are struggling with student loans taken out before this went into effect.


Yes rent to own homes are available and there are a few people out there who will take car payments directly from a buyer eliminating the need for a bank loan. But why should it be that hard for Americans when citizens in other countries don't need student loans to obtain a college degree? Why should college graduates have to work for minimum wage because of outsourcing and H1 Visas? Without protests, I don't see anything changing.

FACT: It takes money to spend days protesting in Washington. Protestors need a place to sleep and food to eat. Both food and shelter cost money. People who work for minimum wage and don't live in Washington can't afford to do this.

Not everyone is only out to help themselves. A few people actually work to make this country great again. As soon as I find a way to get around the FACTS, I will be one of them.




tazzygirl -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:06:09 PM)

While your facts may be credible, most bring it upon themselves. Unless youare in the medical or legal field, why are you dragging so much debt before finishing college? Eventually loans have to be repaid. These are educated people. Banking upon a salary you dont have is insane. Its almost like the housing bubble. People were assured they could afford the house they were buying when they couldnt. Now we are assuring people they can afford the education they are getting. They cant.




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:06:19 PM)

DE,  college is over priced.

Who wants to be a debt slave- college is a mortgage with out the house.

Libraries exist - a person can self educate- team up with like minded people are learn.   In some cases- learn more then the structured schools.




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:09:12 PM)

Tazz, if you are really good and be on your best behavior, maybe one day you too can ride on the boat which is pictured on the OP.


Isnt that a worthwhile goal?




tazzygirl -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:13:08 PM)

I prefer terra firma.




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:19:54 PM)

Terra Firma, the Private Equity firmThe private equity investment firm - Terra Firma. Its approach to investing, details of acquisitions and its employees.




tazzygirl -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:21:25 PM)

Terra firma is a Latin phrase meaning "solid earth" (from terra "earth" and firma "solid"). The phrase refers to the dry land on the earth's surface and is used to differentiate from the sea. In the Republic of Venice, it was used in respect of the mainland territories.

http://en.wikipedia.org/wiki/Terra_firma

Gesh, pahunk... go outside for a while.. clear the conspiracies from your mind.




TreasureKY -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:27:27 PM)

quote:

ORIGINAL: tazzygirl

While your facts may be credible, most bring it upon themselves. Unless youare in the medical or legal field, why are you dragging so much debt before finishing college? Eventually loans have to be repaid. These are educated people. Banking upon a salary you dont have is insane. Its almost like the housing bubble. People were assured they could afford the house they were buying when they couldnt. Now we are assuring people they can afford the education they are getting. They cant.


Tazzy is quite right.  What happened to working your way through college, and only attending one that you can afford?

Not to mention, quite a few of these unemployed and underemployed persons with college degrees made a huge mistake in deciding what degree to pursue.  I'm sorry, but there isn't a huge job market out there for Art Historians.   There aren't many really good jobs for persons with degrees in Psychology, either... unless you have further certifications in a specialty field.  The list goes on.

Honestly, I think a part of the blame goes to the parents (and society in general) for an entire generation who has been raised to believe they can be absolutely anything they want.  I'm not saying that you shouldn't be encouraging your child to seek a career in something they might have an aptitude for and enjoy.  But there's should be reasonable research into the job market forecast and a little bit of common sense. 

Personally, I feel the entire degree thing has been greatly devalued.  What once used to be required only for the highest level of positions, is fast becoming as meaningless as a High School diploma for even entry level minimum wage jobs.




FirmhandKY -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:27:36 PM)

quote:

ORIGINAL: defiantbadgirl

If being wealthy or being poor in the US was a matter of choice, there would be a lot more wealthy people. Nobody wants to work for minimum wage.

For many years, a college degree was the perfect solution. Get educated and start a good paying career after graduation. Now many US college graduates are working minimum wage jobs and having their meager wages garnished because they are in default on their student loans. They have no experience, there are too few jobs, and too much competition.

Many US college graduates end up in a worse situation than they were in before they went to college (I keep saying US citizens because for many in other countries, student loans are a non issue).

There are business owners who have gotten rich by paying their workers minimum wage and refusing benefits, hiring illegal immigrants, or having products manufactured oversees where they can pay workers less than minimum wage and don't have to pay health insurance premiums.

There are the lucky few who win the lottery or have made millions on the stock market. There are ways to get rich, but very few ways that don't involve risk or exploiting others.

It's far easier to keep wealth than it is to gain it.

Not liking those who make money by taking advantage of others is good because that dislike can fuel ambition to take action and change things.

It would be wonderful if the working poor could afford to take time off their minimum wage jobs to rally in Washington to fight for stiffer penalties for companies who hire illegal immigrants, secure our borders, stop H1 Visas until there are enough living wage jobs for US citizens, and fight for all US tax payer money to be spent in US, not on wars in other countries. Emails are much easier to ignore than live protests. Unfortunately, it takes more money than poor people have to travel there.

Sadly, many people who do have the money are indifferent to situations that don't directly affect them and do nothing. Indifference does not fuel ambition.


I had to put your post into paragraphs to be able to comprehend it better.

I have to agree with LaT on this.

It is just this type of attitude that does keep "poor people" poor.

Getting wealthy, or even just making more than a survival wage is a matter of attitude, opportunity, and luck.

Of the three, attitude is the most important factor. 

If one has the right attitude, and uses their time and energy to seek ways to improve themselves (and a college education isn't necessary, although it sometimes can be helpful), then they will be prepared, and understand when "opportunity knocks", and they will pretty much make their own luck.

Guaranteed?  Nope.  But it is a guarantee that if someone doesn't have a willing attitude, then they will ignore opportunity, and will almost always have "bad luck".

The attitude that will ensure failure is the one that brings out the hatred for people who do better, and succeed.

The attitude that will ensure failure is the one where someone cries about how unfair everything is, and can't see the opportunities that they can take advantage of, because they are too busy complaining.

I'll just give you some examples that I'm familiar with:

I work in a pretty technical field, that involves engineering, politics, and federal regulations.  I've trained probably 15 people over the years in how to do the same thing.  Or, to be more correct, I've hired at least that many to learn it.

I'm willing to pay them for at least 6 months to learn the skills and information to succeed, without expecting that they will contribute to my bottomline.

Some didn't even have computer skills, which is absolutely required to succeed.  I am willing to teach them that, and even provide the computer equipment for them. 

What is required to succeed is the attitude and desire to pay close attention, and to learn how to look up, read, and understand the rules, and apply them.  It requires the ability to pay attention to details, the ability to think things through, and then apply what they know to a particular situation.

Many of the people I've hired simply decide that its "too hard", or they give up after a week or two, because it's "overwhelming".  Some just don't want to learn all the stuff.  Some are simply unwilling to learn how to think.

One young woman who did not have a high school diploma, and not a day of college, and no computer experience took on the challenge about 10 years ago.  She had a crackhead for a husband, and two children who she ended up raising on her own.

To start, I paid her about $300 a week.  Today, still without a high school diploma, or any college, she is working for a Fortune 500 company, doing exactly the same things as I taught her for $45 an hour.

Another example is Treasure.

Treasure has a GED, and a few hours of college, but worked her way up in the Human Resources field by learning on the job, after hours, getting certifications in the field, and in generally applying herself.  She supported her entire family over the last two decades doing so, without assistance from her ex.

When we got married, she started learning what I do, in a completely unrelated field.  But she had already displayed the right "attitude": failure is simply another lesson on the way to success.  Today, even if I were to die, she could continue our business and make at least a 6 figure income.

What these two women didn't do was cry about all the opportunity and education that they were missing to "be successful".  They didn't waste their energy feeling resentful for the success of others.  What they did do was take stock of their own positions, their own abilities, got their attitude straight, and applied themselves.  And made their own luck.

Final example:  Me.

I have two college degrees, both in the "soft sciences", in areas that do not apply at all in the field that I've been working on for the last 20 years. (and, btw, I completely paid for my undergraduate degree by working: not a penny from my parents, who were "poor" and unable to help) I further spent over 10 years in the military, also outside of my current field.  I became a respected (and well paid) expert in this field, above many people who have dedicated degrees, by learning on my own, by being more committed to understanding it, and in learning how to apply it.  Was it easy?  Never.

How did I get into it?  Simple.  I had problems that needed solved, and there wasn't anyone that I could turn to, anyone I could pay that would provide the answers to the questions.  I saw an opportunity, and became "that person" for others to turn to, and, as a result, am currently in that "top 5%" income category.

But ... I don't work "on the clock".  I work on vacation, I work during the day, I work at night, I work to resolve my clients problems whenever, and where ever they have them.  I've saved some companies millions of dollars, and nowadays they rarely ask "How much?", they simply say "Send us your bill".  Hell, I mistakenly overcharged one company $10,000, and when I told them, they said they didn't care (an indication that maybe I'm not charging enough for my services).

"Being poor" is simply a temporary condition for people who have the right attitude. 

Firm




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:43:41 PM)

In recent years tho employers want people to do the work of 2 or 3.

even if one gets a career- the 60 hour weeks bring down the salary quite a bit.  Throw in a 90 minute commute each way and  -- it becomes onerous.

--  No one denies people success- but when the gains are ill gotten- where there is no possible way the person earned it- that- in the case of wall street they shuffle assets with out - creating anything.


As long as the middle class blames the lower class- and the upper mid class blames the lower middle class- then the global 1% keeps on robbing the masses.

This is not even trickle down- it is theft from humanity which in the end will destroy humanity.




FirmhandKY -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 2:53:12 PM)

quote:

ORIGINAL: pahunkboy

In recent years tho employers want people to do the work of 2 or 3.

So?  Find another employer, or start your own business.

Increased efficiency is sometimes the only way to increase profit, or even to turn a profit.

I've seen plenty of large companies that accept less work from an employee than I ever would.


quote:

ORIGINAL: pahunkboy

even if one gets a career- the 60 hour weeks bring down the salary quite a bit.  Throw in a 90 minute commute each way and  -- it becomes onerous.

Stop thinking of a career as selling your hours.

No one ever gets rich by simply selling a finite number of hours available to them.

"Wage slaves" have that name for a reason.


quote:

ORIGINAL: pahunkboy

--  No one denies people success- but when the gains are ill gotten- where there is no possible way the person earned it- that- in the case of wall street they shuffle assets with out - creating anything.

Who decides what is "ill gotten"?  It appears to me to mean "they make more than me, therefore it is ill-gotten and they don't deserve it".

I disagree.


quote:

ORIGINAL: pahunkboy

As long as the middle class blames the lower class- and the upper mid class blames the lower middle class- then the global 1% keeps on robbing the masses.

This is exactly what you are encouraging by your attitude.

In other words, you are part of the problem, not part of the solution.


quote:

ORIGINAL: pahunkboy

This is not even trickle down- it is theft from humanity which in the end will destroy humanity.

A conclusion based on your own resentment.

Sorry, pahunk.  I like you, but you are wrong about most of this.

Firm




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 3:11:07 PM)

http://investing.businessweek.com/research/stocks/people/person.asp?personId=227556&ticker=PPL:US&previousCapId=185508&previousTitle=PPL%20CORPORATION

So- this guy who raised elect bills here by 50% is worth 11 million a year- and I am part of the problem.  I will be glad when I am dead.  This is crazy.




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 3:13:44 PM)

http://investing.businessweek.com/research/stocks/people/person.asp?personId=338405&ticker=UGI:US&previousCapId=190756&previousTitle=UGI%20CORP

and this guy raised my heating bill by 30%.  he gets paid   9.9 million a year.   and I am "resentful"?

!!




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 3:16:17 PM)

http://www.fiercepharma.com/special-reports/mercks-richard-clark-ceo-pay

and this guy raised my RXs so high- I cant get them covered for 3 pills a day.  he is worth 14.5 million.

and I am part of the problem?




tazzygirl -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 3:20:42 PM)

ANNUAL COMPENSATION*
Salary $1,067,975
Total Annual Compensation $1,067,975

STOCK OPTIONS*
Restricted Stock Awards $3,365,010
All Other Compensation $65,416
Exercised Options 200,000
Exercised Values $2,347,340
Exercisable Options 1,171,666
Unexercisable Options 593,334
Total Value of Options $2,347,340
Total Number of Options 1,965,000

TOTAL COMPENSATION*
Total Annual Cash Compensation $2,659,618
Total Short Term Compensation $1,067,975
Other Long Term Compensation $3,430,426
Total Calculated Compensation $9,948,066

your link, btw.

So he made a good deal with the company. His annual income is less than 2 million. I dont begrudge him what he made as long as he doesnt gouge the public. your bill was not the only one going up last year. Nor was that companies the only one going up. everyone felt the pinch.




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 3:26:47 PM)

He is not worth it.  Why should we take that increase? 

They also spent over 1 mil lobbying Harrisburg.

A utility is a necessity.

A public service.  electric companies should be 501c.  non profits.   and CEOS are not worth $11,790,427




tazzygirl -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 3:28:41 PM)

Then get out there and do something about it, pa. That is the point.




pahunkboy -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 3:32:39 PM)

quote:

ORIGINAL: tazzygirl

Then get out there and do something about it, pa. That is the point.


A few things are on my mind for a newsletter for my block- and general area.

of course - some topics more local in gist.




FirmhandKY -> RE: Escape From America: The Strange & Scary Billionaires Behind The Libertarian-Inspired Sea Castles (6/8/2010 4:55:10 PM)

quote:

ORIGINAL: pahunkboy

He is not worth it.  Why should we take that increase? 

They also spent over 1 mil lobbying Harrisburg.

A utility is a necessity.

A public service.  electric companies should be 501c.  non profits.   and CEOS are not worth $11,790,427

How are you gauging and making the decision that his pay is "not worth it"?  What factors of analysis are you going by?

Have you ever run a large utility?  What is the average CEO pay of a company which has almost $8 billion in revenues last year, and almost $1.4 Billion in gross profits?

Sure, a utility is a "necessity" (although I think thompsonx might legitimately argue the point).  But it does take certain abilities and skills to run one successfully.  If PPL didn't pay their CEO enough to stop him from going to another company (which would pay him "what he is worth"), then who would be running PPL?  The secretary?  A lineman?  A construction supervisor?

All have different skills, and perform admirable work: but they don't have the skills and experience to keep PPL profitable, and more importantly for you, they don't have the systems management experience to ensure that you receive uninterrupted electrical service.

If you think you are paying too much, most utilities are regulated by a state level commission of some type, which must approve rate hikes.

Lobby them, and your state senators and representatives.

But do it based on some real problems, not based on "they pay their CEO too damn much", cause that ain't gonna fly.

In fact, I suspect for the size of company, he isn't one of the higher paid CEOs at all.

Firm




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