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Saturday, June 12, 2010
Thursday, June 3, 2010
When is Perfection not PERFECT?
Armando Galarraga pitched a perfect game on Wednesday, June 2. SO WHAT you ask? Including Dallas Braden (Oakland A's) on May 9, 2010 and Roy Halladay (Philadelphia Phillies) on May 29, 2010, there have been only twenty (yes 20) perfect games since 1900 (110 years). Baseball has been blessed with two (three) perfect games in the last 30 days compared to an average of 1 perfect game every 5 years.
I feel sorry for Umpire James Joyce for making a bad call. To his credit Umpire Joyce apologized to Armando Galarraga and agreed he missed the call. Unfortunately, MLB may correct this egregious error by pitching Umpire Joyce back to the Minor Leagues.
In my opinion, Bud Selig should strap on his bollocks and overturn Umpire Joyce's call for the good of baseball. Yes, it sets a precedent, but a good one. Right is right and replays from 6 different camera angles never lie.
I feel sorry for Umpire James Joyce for making a bad call. To his credit Umpire Joyce apologized to Armando Galarraga and agreed he missed the call. Unfortunately, MLB may correct this egregious error by pitching Umpire Joyce back to the Minor Leagues.
In my opinion, Bud Selig should strap on his bollocks and overturn Umpire Joyce's call for the good of baseball. Yes, it sets a precedent, but a good one. Right is right and replays from 6 different camera angles never lie.
Sunday, May 2, 2010
Too Good to be True?
Why on earth would an investor offer $5MM when the original business plan only asked for $1MM? Redraft the business plan based on $5MM funding. How would you spend the money differently? Play out the best case and worst case scenarios with $5MM in funding. Present these cases to the potential investors and see if they walk away when assets are legitimately deployed.
BTW, what would happen to your house, stocks, other investments if you were personally held liable for a $5MM default? A personal guarantee isn't just a piece a paper. Think of the consequences. If all you have is a broken down car, are 3 months behind in rent, and are leveraged over your head, who cares? Get in line with the rest. If, on the other hand, you have great credit, lots of assets, cash in the bank, then kiss them all away. You deserve the consequences if you fall for this scam.
The most likely scenario is the investors place $1MM in escrow, ask you to guarantee the entire $5MM loan, pay out the original $1MM through their sham front man, then fold the company leaving you on the hook for the whole $5MM. As an officer of the corporation, the shill will have super-majority voting rights, his vote representing 51% or more will trump minority investors (You, your friends, family, and everyone else that got you this far).
There is no free lunch. If you take this deal, you are pigging out neck deep from inside the trough. Take off the rose colored glasses, come back to earth, stop the meds, take a cold bath, gather your thoughts and ask yourself:
Why on earth would someone offer more money than I asked for?
Read the following blog for more information:
http://www.shariahfinancewatch.org/blog/
specifically the article titled The Shariah-Compliant Finance Myth
BTW, what would happen to your house, stocks, other investments if you were personally held liable for a $5MM default? A personal guarantee isn't just a piece a paper. Think of the consequences. If all you have is a broken down car, are 3 months behind in rent, and are leveraged over your head, who cares? Get in line with the rest. If, on the other hand, you have great credit, lots of assets, cash in the bank, then kiss them all away. You deserve the consequences if you fall for this scam.
The most likely scenario is the investors place $1MM in escrow, ask you to guarantee the entire $5MM loan, pay out the original $1MM through their sham front man, then fold the company leaving you on the hook for the whole $5MM. As an officer of the corporation, the shill will have super-majority voting rights, his vote representing 51% or more will trump minority investors (You, your friends, family, and everyone else that got you this far).
There is no free lunch. If you take this deal, you are pigging out neck deep from inside the trough. Take off the rose colored glasses, come back to earth, stop the meds, take a cold bath, gather your thoughts and ask yourself:
Why on earth would someone offer more money than I asked for?
Read the following blog for more information:
http://www.shariahfinancewatch.org/blog/
specifically the article titled The Shariah-Compliant Finance Myth
Saturday, May 1, 2010
How to Pay Your Mortgage with a Credit Card
The US Federal Trade Commission might sue GM over claims of paying back their loans in full. Despite claims made by Chairman and CEO Ed Whitacre in recent TV ads, General Motors is using taxpayer money, not operating income to repay government loans. Here are the details.
http://www.foxnews.com/politics/2010/04/23/gm-hot-water-ftc-truth-advertising/
* GM received $49.5 billion — $14.5 billion pre-bankruptcy and $30.1 during bankruptcy.
* Of the $30.1 billion, the $16.4 billion was placed in an escrow account.
* $2.8 billion in the escrow account was used to resolve Delphi’s bankruptcy reducing the escrow account to $13.7 billion.
In return, the government received:
* 60% stake in the new GM.
* $7.1 billion in interest bearing debt ($0.4 billion was paid back in July 2009).
* $2.1 billion of preferred stock.
GM used TARP money that was placed in escrow by the Treasury Department to repay the remaining interest bearing debt of $6.7 Billion. In other words, the Treasury approved the repayment of the loan with the escrow fund, which is similar to using credit cards to pay the monthly mortgage.
The government hopes to recover the remainder of their investment by selling common stock after GM’s initial public offering that is intended to take place later this year.
http://www.foxnews.com/politics/2010/04/23/gm-hot-water-ftc-truth-advertising/
* GM received $49.5 billion — $14.5 billion pre-bankruptcy and $30.1 during bankruptcy.
* Of the $30.1 billion, the $16.4 billion was placed in an escrow account.
* $2.8 billion in the escrow account was used to resolve Delphi’s bankruptcy reducing the escrow account to $13.7 billion.
In return, the government received:
* 60% stake in the new GM.
* $7.1 billion in interest bearing debt ($0.4 billion was paid back in July 2009).
* $2.1 billion of preferred stock.
GM used TARP money that was placed in escrow by the Treasury Department to repay the remaining interest bearing debt of $6.7 Billion. In other words, the Treasury approved the repayment of the loan with the escrow fund, which is similar to using credit cards to pay the monthly mortgage.
The government hopes to recover the remainder of their investment by selling common stock after GM’s initial public offering that is intended to take place later this year.
Monday, April 26, 2010
Cordless Lawn Mower
I have never written a product review in my life, let alone post it on the internet, but after using the Worx WG780 Cordless Lawn Mower, I felt compelled to tell others about it.
I bought a corded lawn mower a few years ago that couldn't cut through short dry grass on a sunny day, so I returned it. BTW, I replaced several extension cords after my first experience. It was quite "shocking", if you know what I mean.
My current gas mower coughs, sputters, and stalls while cutting through spring grass. I can't get through 1/3 of the lawn before it quits altogether. I service it every year, but this year's quote was more than I paid for the mower in the first place. After 7 years, I decided it was time to try something new.
I researched all the electric lawn mowers on Home Depot's website (Lowe's doesn't have a store nearby) and almost convinced myself that today's lawn mowers were just like the old ones - gutless. All the other electrics (corded and cordless) were rated 1 or 2 on a scale of 5. Only the Worx cordless was rated 5 of 5. Enough said.
I brought my printout to Home Depot, asked for the product by name, model, and SKU, but the Customer Service desk said they didn't have any Worx mowers in their store, and none of the other stores had any in stock either. I finally found the buyer for the mower section who remembered one from inventory they just did last week. We found the mower stacked in a mixed pallet a couple of aisles over. It took a half hour to get a forklift, bring it down, and break the pallet.
I am so glad I waited. No, ECSTATIC. If I were Home Depot, I would put this mower front and center in front of the Homelite and Black & Decker mowers. This cordless mower is stronger than any corded mower I have ever used.
Frankly, I was surprised the battery was full when I opened the box. You know how you have to charge cordless and cellular phones overnight before using them? Not this time.
The Worx cordless lawn mower was fully charged right out of the box and carved effortlessly right through spring grass that was just as tall as the mower itself. My wife and kids thought I spent the whole day weed whacking the tall growth. I took pictures and video while mowing because I was dumbstruck by how well this mower worked.
We have several lawn sections on a lot of 2/3 acre. In comparison, my gas mower uses 1/2-2/3 tank to mow the lawn. I just cut down the deepest spring growth my yard has seen in years. I thought this thing would have been dead at the end. The battery indicator showed only 1/3 of the battery pack was used.
BRAVO Worx. I would be happy to sing your praises to anyone that will listen. If you are considering a new lawn mower, don't waste your time. Get this Worx WG780. I guarantee you won't be disappointed.
I bought a corded lawn mower a few years ago that couldn't cut through short dry grass on a sunny day, so I returned it. BTW, I replaced several extension cords after my first experience. It was quite "shocking", if you know what I mean.
My current gas mower coughs, sputters, and stalls while cutting through spring grass. I can't get through 1/3 of the lawn before it quits altogether. I service it every year, but this year's quote was more than I paid for the mower in the first place. After 7 years, I decided it was time to try something new.
I researched all the electric lawn mowers on Home Depot's website (Lowe's doesn't have a store nearby) and almost convinced myself that today's lawn mowers were just like the old ones - gutless. All the other electrics (corded and cordless) were rated 1 or 2 on a scale of 5. Only the Worx cordless was rated 5 of 5. Enough said.
I brought my printout to Home Depot, asked for the product by name, model, and SKU, but the Customer Service desk said they didn't have any Worx mowers in their store, and none of the other stores had any in stock either. I finally found the buyer for the mower section who remembered one from inventory they just did last week. We found the mower stacked in a mixed pallet a couple of aisles over. It took a half hour to get a forklift, bring it down, and break the pallet.
I am so glad I waited. No, ECSTATIC. If I were Home Depot, I would put this mower front and center in front of the Homelite and Black & Decker mowers. This cordless mower is stronger than any corded mower I have ever used.
Frankly, I was surprised the battery was full when I opened the box. You know how you have to charge cordless and cellular phones overnight before using them? Not this time.
The Worx cordless lawn mower was fully charged right out of the box and carved effortlessly right through spring grass that was just as tall as the mower itself. My wife and kids thought I spent the whole day weed whacking the tall growth. I took pictures and video while mowing because I was dumbstruck by how well this mower worked.
We have several lawn sections on a lot of 2/3 acre. In comparison, my gas mower uses 1/2-2/3 tank to mow the lawn. I just cut down the deepest spring growth my yard has seen in years. I thought this thing would have been dead at the end. The battery indicator showed only 1/3 of the battery pack was used.
BRAVO Worx. I would be happy to sing your praises to anyone that will listen. If you are considering a new lawn mower, don't waste your time. Get this Worx WG780. I guarantee you won't be disappointed.
Thursday, March 25, 2010
GM and Toyota form NUMMI
The United Auto Workers contracts with the Big 3 Automakers included "Job Bank" provisions. Laid off workers were paid up to 90% of their base salary for NOT WORKING! This provision cost GM over $400 Million in 2006 alone.
2007 brought some much needed changes to the Big 3 labor contracts, saving an estimated $1,000 per car.
Take the NUMMI plant in Fremont, California as an example.
As a General Motors plant, the UAW closed the plant four times with strikes and sick-outs between 1963 and 1982. In the final year, reportedly up to 20% of workers were absent without excuse. The plant employed 4,000 workers and it took an average of 34 hours to build a car.
After NUMMI reopened as a joint venture between GM and Toyota, absenteeism dropped to just 2%, the factory employed just 2,200 workers, and build time dropped to just 20 hours.
2007 brought some much needed changes to the Big 3 labor contracts, saving an estimated $1,000 per car.
Take the NUMMI plant in Fremont, California as an example.
As a General Motors plant, the UAW closed the plant four times with strikes and sick-outs between 1963 and 1982. In the final year, reportedly up to 20% of workers were absent without excuse. The plant employed 4,000 workers and it took an average of 34 hours to build a car.
After NUMMI reopened as a joint venture between GM and Toyota, absenteeism dropped to just 2%, the factory employed just 2,200 workers, and build time dropped to just 20 hours.
American Car Quality
How well do American cars stand up to their international competition?
Well, Consumer Reports included just one American car in 2004 in their list of Top 10 Picks. In 2005, 2006, and 2007 there were NO American cars on the list. All 10 cars on the list were Japanese, including four hybrids - the Honda Civic and Accord, and Toyota Prius and Highlander. For 2008, only the Chevy Silverado 1500 pickup truck made the Top 10 list. The Chevrolet Avalanche pickup was the sole American car, equaling the number of Korean cars on the 2009 list. The trend continued with only the Chevy Traverse making the cut in 2010.
With all the marketing dollars spent on differentiating European cars on their "exceptional quality", "Ultimate Driving Machine" or "Joy", not one European nameplate appeared until Volkswagen returned to the list in 2009 and 2010.
POP QUIZ
1) What car do you drive today?
2) Which brands and models would you consider for your next car purchase?
If you currently have a Japanese car, your answers to #1 and #2 are probably the same. If you drive any other car, your answers were probably different.
Well, Consumer Reports included just one American car in 2004 in their list of Top 10 Picks. In 2005, 2006, and 2007 there were NO American cars on the list. All 10 cars on the list were Japanese, including four hybrids - the Honda Civic and Accord, and Toyota Prius and Highlander. For 2008, only the Chevy Silverado 1500 pickup truck made the Top 10 list. The Chevrolet Avalanche pickup was the sole American car, equaling the number of Korean cars on the 2009 list. The trend continued with only the Chevy Traverse making the cut in 2010.
With all the marketing dollars spent on differentiating European cars on their "exceptional quality", "Ultimate Driving Machine" or "Joy", not one European nameplate appeared until Volkswagen returned to the list in 2009 and 2010.
POP QUIZ
1) What car do you drive today?
2) Which brands and models would you consider for your next car purchase?
If you currently have a Japanese car, your answers to #1 and #2 are probably the same. If you drive any other car, your answers were probably different.
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