rshoch
@o1.com | Live Free or Die
Damn gov regulators. Always interfering with the free markets ability to generate wealth. Set 'em free. |
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IAmTheEvilest
There Is Nothing Like A Restart
join:2001-01-03
Santa Barbara, CA
clubs: | I think you have the wrong state... Live Free or Die is the motto of New Hampshire.
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The two biggest things: the universe & human stupidity --Albert Einstein |
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rshoch
@o1.com | U R Right
I chose the motto not for its geographic but for its meaningful significance. Never any slight to the fine folks of NH. |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
 ·Comcast
| Penna. did this too...
Our highly skilled state treasurer, Barbara Hafer, also invested state pension money in dot-bombs... lost $400 million. Of course now our taxes go up to pay for it... geez... didn't we already pay once for the retirement of state-employed pencil pushers? Why should we pay again? Why not make the state workers pay? Its their retirement after all.
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Jewel got Britney-fied! There is hope for the world yet! |
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p51d007
Naa-P51d Mustang
join:2002-06-07
Springfield, MO
|  lucky me!
When the dot com firestorm started in the 90's, I kept saying to myself......invest in dot coms? What are dot coms?......a computer server, and a few people......they have no business model, no plan, nothing....But people were throwing money at them hand over foot. Executives at these so called companies (20 somethings like me at the time) were buying yachts, fast cars, stupid crap like statues, paintings mansions etc.....Well, then the investment money bags started saying wait a minute......what are we doing?
The money dried up, and the dot com went dot bust! Thousands are holding worthless stock......Not me, I invested in the old guard that didn't see as big of a run up, but steady growth.....
A man once said.......a fool and his money are soon parted.... |
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Theo42
@attbi.com
| Of course, some dot coms have done great. Many have made a killing since the start of the year.
Ebay - Hugely profitable
Yhoo - Up 200% in the past 8 months
AOL - 40 billion in revenue each year (A media company now rather then a dot com, but they bought TW during the dot com bubble years) Up 50% in the past 5 months.
Amzn - Up 100% in the past 8 months. |
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Hellrazor-
@ceinetworks.com
| PSERS- PA state retirement
Actually genius, we do pay into our own retirements via a fixed mandatory deduction of over 7%. It can be lower in some cases if you were hired before a certain date. Place fault where is belongs, on the morons managing the accounts. You see tons of Dot-Coms failing, so you still keep large portions of your porfolio with them? I think not. "Oh they will rebound.." yuppers.. from the trash can right into the dump. Now as far as the Enrons and Worldcoms, draw and quarter the top staff. Just make sure a 5th rope is tied to a certain part of the anatomy and is pulled one 1st. |
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Cheetah9
join:2001-01-07
Bethel Park, PA
| reply to pnh102
Re: Penna. did this too...
said by pnh102  :
Our highly skilled state treasurer, Barbara Hafer, also invested state pension money in dot-bombs... lost $400 million. Of course now our taxes go up to pay for it... geez... didn't we already pay once for the retirement of state-employed pencil pushers? Why should we pay again? Why not make the state workers pay? Its their retirement after all.
Not to mention our local school districts, who are their OWN taxing authority in PA.
Arragh! |
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tim_k
Buttons, Bows, Beamer, Shadow, Kasey
Premium
join:2002-02-02
Stewartstown, PA
 ·Millenicom
 ·WildBlue
| reply to Hellrazor-
Re: PSERS- PA state retirement
said by Hellrazor-:
Actually genius, we do pay into our own retirements via a fixed mandatory deduction of over 7%. It can be lower in some cases if you were hired before a certain date. Place fault where is belongs, on the morons managing the accounts. You see tons of Dot-Coms failing, so you still keep large portions of your porfolio with them? I think not. "Oh they will rebound.." yuppers.. from the trash can right into the dump. Now as far as the Enrons and Worldcoms, draw and quarter the top staff. Just make sure a 5th rope is tied to a certain part of the anatomy and is pulled one 1st.
Well I believe his point was the taxpayers shouldn't have to be the ones who suffer because the retirement fund was mismanaged. Lord knows my retirement account took a big hit, and no one is going to fund that shortfall. |
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Hellrazor
join:2002-02-02
Abyss
| Well since its a state employees blunder and a state can't exactly go bankrupt. It does not leave much room for any other options. PSERS in PA pays for all direct and indirect state employee pensions. If you work for state gov, DOT, etc or a school district.. its all the same. |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| said by Hellrazor :
Well since its a state employees blunder and a state can't exactly go bankrupt. It does not leave much room for any other options.
Sure it does... they can reduce payouts to retirees and increase the costs born by the employees. I don't see why taxes on private sector workers should be increased to pay for someone else's retirement, especially when we're getting kicked in the crotch to pay for ours and even moreso when we've already been taxed once to pay for that retirement. Any other solution will actively discourage good management of that money, since the managers and state employees know they can just soak the taxpayers for more cash.
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Jewel got Britney-fied! There is hope for the world yet! |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| reply to Theo42
Re: lucky me!
said by Theo42:
AOL - 40 billion in revenue each year
Now if they could only work on the "losing $100 billion each year" problem they're having 
You know... technicalities and such hehe.
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Jewel got Britney-fied! There is hope for the world yet! |
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Hellrazor
join:2002-02-02
Abyss
| reply to pnh102
Re: PSERS- PA state retirement
Why? Private sector employees retirements are matched to some degree by their employeer and the costs are passed on the the consumer. So the consumer gets soaked more money to pay for your retirement. Its an endless cycle and its not like a State makes money to offset retirement costs. And the last time i checked state employees pay taxes too. So its not like we are exempt from the same costs. You really want to bitch, go check what prevailing wages are all about in states that require them for large construction projects. That sucks up more money then anything we are arguing about. Joe get might $18/hr on private construction work, but for our state Joe gets $27/hr just because he is there. And our wonderfull state sends L&I inspectors to the job sites to make sure the employees are getting the proper rates. Now that is rape of our wallets. Try working for a state entity and seeing how screwed up things are and wonder htf your taxes are wasted. |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| said by Hellrazor :
So the consumer gets soaked more money to pay for your retirement.
True, but I cannot legally hold a gun to a consumer's head and force them to pay me anything like the state can. If I want a consumer to pay me anything I have to provide them with something that is worth it to them. Logically speaking, I earn my future retirement benefits by providing my customers with something that is worth as much or more to them than what they are paying me.
said by Hellrazor :
Try working for a state entity and seeing how screwed up things are and wonder htf your taxes are wasted.
I don't need to, I already know all too well. PennDot goofed up my vehicle record and accused me of driving without insurance and the West Chester Area School District accused me of not paying them taxes for the years I wasn't living there. In both cases I had to do their work for them and prove that I was legal. I already paid for them to do their job once but I ended up having to do their work for them for free. If I was really a consumer, I could have fired both agencies for being incompetent and costing me time, money and stress that I didn't need.
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Jewel got Britney-fied! There is hope for the world yet! |
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flex5e
Volvo Fever
join:2003-06-24
UK
clubs: | reply to Hellrazor-
As Shaft said...
You're daaaammn right. |
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Theo25
@attbi.com
| reply to pnh102
Re: lucky me!
Actually AOL had nothing but a paper writeoff from buying TW due to the stock market decline. I was glad most got caught up in that statement because I was able to buy the stock at 10 a share, and its now over 16 Paper writeoff is nothing other then newspaper talk.
I'm big on most internet companies, so far I'm making a killing this year! (all thought that just offsets my losses from 2001). |
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