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Sunday, March 14, 2010


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Yelnick, that picture has been posted around quite a bit, and yes it is apt for many companies and organizations in business today.

Yet I would dare say it does not truly jive with what you communicated. Why might that be?

Well I would suspect Jose is union, the rest would be white collar. If Jose is making $175 K per annum, I would say that compared to the rest he deserves it.



ns, have you any experience with California unions? It isn't about blue collar vs white collar anymore. The dudes standing around with glorious titles are all public sector, and they are supervising / auditing / investigating / counting / administering / teaching / PRing / marketing / unionizing / politicizing an illegal alien who is actually doing trying to do the work.


Yelnick, well I do not know about CA I have to admit.

We use contract union labor in my company, but they are not the source of the problem. No union labor person, regardless of position, that we use would have the title of manager. All of our managers, and your picture fits, are company employees and non union.

Internally many within the company I work for are imo parasites, no more no less, and 80 % or so of the work they do is totally non value added.

The only impetus imo to route this out (in my company anyway) is related to economics ... i.e. if the economy goes into the real shitter, massive layoffs in the white collar ranks will occur.



NS, the problem in CA is the public sector union worker is nothing like the traditional blue collar assembly line worker. They include first responders, but go well beyond. And they are largely white collar and very well paid, and very protected.

Recently we hit a milestone the majority of union jobs in the US were in government, not the private sector.


W/r to this coming week in the markets I think we are about down to two choices, we bust through and the bulls celebrate; or we start down. I am looking for an interesting week.

My fav timing model for a 'B' top is/was from last Friday to about this Wednesday.

The dollar is already up this evening. I don't personally believe it is because of a strong US economy or a smell of a rise in rates anytime soon. Rather if it continues up it will likely be the result of a global flight to safety.

Maybe the speculators are going to give the Euro a hard time. Curriency issues as I see it are all relative, and the dollar is still the safest of the lot. The Euro may stink up the joint good, more than all the rest.

My models ultimately can allow the dollar to push 100 again. Following that the dollar could get wiped out in its a final leg down.




What a sickening post. I lived in Long Beach for 12 years, and while we loved it, we have no desire to return. Close friends are leaving in droves.

I guess the radicals with their white pony tails, matching sneakers and 400$ ties at UC Berkeley were full of chit afer all.

I doubt Arnie knows his times tables beyond 4 or 5. The only solution imo is to let state governments implode. Then change will come. Voters in CA seem to understand this.

I understand that Obama's budget deficit for February was 220+ billion dollars. What would a guy like that do with increased tax revenues? Increase deficit spending is surely the only answer. Candidates that will cut government and reduce taxes get my vote from here on out. I don't want to know their positions on any thing else.

The precursor was Bush(how could the republican party have put that guy forward) and deficits don't matter Cheney. They opened the door for an Obama to borrow us into oblivion. That is exactly what he is going to do.

I've been pushing for an international assignment for over a year now. I work for a large multinational and if all goes well, should be ex-pat by Q4 of this year on a 2 year assignment. We have no intention of returning, at least until I retire (10 years). And at that time, we plan to take a long hard look at things.



Housing was oversubscribed at one point as well.


Yelnick, as a 4th generation Californian . . . you hit the nail on the head in regards to the public sector and their labor unions. I believe that Meg Whitman wants to start by cutting 40,000 state government jobs, which would take us back to the level that the State operated "comfortably" back in 2004. I'd say that's a pretty good start!

Steve P

Very interesting post Yelnick. I believe the next economic downturn may deliver a good dose of economic justice to those who have benefitted from the debt fueled spending binge here in Kalifornia. Public pension funds are big buyers of municipal bonds. When things really implode I think many of those generous union jobs and retirement benefits will evaporate. Sure they'll be ranting and raving, but the money simply won't exist anymore. Politicians won't be able to raise taxes to make up the shortfalls because the private sector will already have been in depression for a while and the money won't exist there either. I've got plenty of popcorn and a front oow seat. It should be quite a show here.

Mr. P

California is done. California exemplifies the reckless spending that has been occurring for the past 30 years and the delusional thinking that it can continue endlessly. Every election brings out the myriad of bond proposals that get apporoved by the electorate with Arnie supporting every one while desperately pleading with the federal government to cover California's budget shortfall. It's amusing how many budget reconciliations there have been the past two years yet a few months down the road the state is $20billion in the hole again.
California is due for a karmic reckoning and its going to get it. States defaulted on their bonds in 1840/1841 and I have no doubt California will be leading the way during the next few years because the politicians and the electorate don't have the will to alter anything.
There is an individual who has written on the constitutional crises in California's history which has led to California overhauling its constitution in 1879,1907(?) and another time I believe. He teaches at USC now and he has some title like California's Historical Laureate.

Dave B.

California has the THIRD oldest Constitution in the world, next to India and Alabama.

The "super-majority" vote that is necessary to get legislation passed is one big reason why nothing ever gets done in the Legislature, and why they (and Schwarzenegger) wind-up flooding the ballot with Propositions.

Arnie has shown absolutely ZERO leadership, and ironically many of the things that (he complained about) which got Gray Davis removed from office, are the exact same things that Arnie has done.

Incredibly irony.

Just as in the case of GM and Chrysler, the pension liability and healthcare retirement benefits are killing the State.

We actually have a retired Fire District Captain from a town of 58,000 (San Ramon) that is making more money in retirement (due to his ability to "spike" his pension with overtime)from a salary of $221,000 per year to the tune of $284,000.

Some of these police and fire (first responders) are the BIGGEST culprits of this pension game. It's gotta come to a stop if the State is gonna get "healthy" again!

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