Zombie The Coronavirus Financial Thread (Personal, Local, National)

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lawai'a said:
Millions of Americans Skip Credit-Card and Car Payments
About 15 million credit-card accounts and 3 million auto loans didn’t get paid in April as the coronavirus ravaged the economy, data show

https://thehill.com/policy/finance/...credit-card-bills-werent-paid-in-april-report
link is to a summary of the WSJ article. WSJ is a pay site so posted the other link
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We have our mortgage deferred until August and one of our car loans until July. Hope my unemployment starts showing up by then.
 
i hope you are working before the benefits arrive. between your paydays and when the bennies start to roll in combined perhaps you can get back on top of the world again.
 
Capitol Report
Senate passes bill that could delist Chinese companies from U.S. stock exchanges
Published: May 20, 2020 at 12:58 p.m. ET
By
Chris Matthews

209
The Holding Foreign Companies Accountable Act would force Chinese companies to adhere to U.S. securities law

https://www.marketwatch.com/story/s...m-us-stock-exchanges-2020-05-19?mod=home-page
i went back 15 pages in thread titles looking for a place to post this. 7 pages in there was one about china coverup and that didn't seem appropriate, so here this is.
i understand a little about the consequences of this action and the ability of delisted companies to raise capital from USA markets. the part about making them adhere to the same oversite, and accounting practices seems like a no brainer and am curious why they were ever exempted? seems like common sense and a level playing field in access and valuations are necessary. which past administrations thought this was a good idea and why wasn't it addressed in our trade negotiations before, especially since they just signed a new agreement in november/december?
am not looking for confrontation but would like perspective and explanation from someone more knowledgeable. thanks in advance.
 
Office culture is over.



Going to be a lot of outsourcing and paycuts for the tech world
 
EL PRESIDENTE said:
Office culture is over.



Going to be a lot of outsourcing and paycuts for the tech world
Click to expand...

My son has his office completely set up at home now and will only need to go into the workplace for staff meetings for the foreseeable future...
 
riverman said:
My son has his office completely set up at home now and will only need to go into the workplace for staff meetings for the foreseeable future...
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Yeah, my bro works in tech in seattle and they are saying October at the earliest.
 
EL PRESIDENTE said:
Going to be a lot of outsourcing and paycuts for the tech world
Click to expand...

Spoke to a developer to today that was laid off due to Philippine outsourcing. It's been going on increasingly for a while but it's certainly getting worse.
 
HailBlazers said:
Spoke to a developer to today that was laid off due to Philippine outsourcing. It's been going on increasingly for a while but it's certainly getting worse.
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120k for bay area vs. 20k for Indian Developer. No offices, doesn't matter about geolocation anymore.
 
HailBlazers said:
120K for Portland 150K for the Bay. Luckily communication still matters.
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Philippines is better than India when it comes to English proficiency. But they are still like fucking robots when you ask them to do anything for the most part. If you've ever been there, most of the workers even at starbucks are just not all there. I've been to the areas where they outsource call centers, its fucking insane. Several tall buildings in pretty nice areas with different tech company names on the top of them. I have a cousin that does some higher level tech support for business software companies and he works US hours, but makes Philippine money (but more than most).

I was doing medical transcription outsourcing for a long time until the technology caught up, and I was hiring MDs in the Philippines for not that much money to transcribe operative reports. It was pretty insane and they worked out pretty well, but I think outsourcing will come back very strong in the near future.

I remember I used to pay Virtual Assistants $2 an hour in India for them to do research for me, and it was fucking shit for the most part. Some would ghost you, but they are very technical and well trained in the tech world, that's for sure. The work ethic and competition in Asia kicks the shit out of the US, they just don't have the opportunity or awareness/comprehension and now they will have to train them to do so.

The Indians was like talking to a fucking wall. But I think it'll be a mix of them improving their skills to fit the suddenly open opportunities.
 
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EL PRESIDENTE said:
Philippines is better than India when it comes to English proficiency. But they are still like fucking robots when you ask them to do anything for the most part. If you've ever been there, most of the workers even at starbucks are just not all there. I've been to the areas where they outsource call centers, its fucking insane. Several tall buildings in pretty nice areas with different tech company names on the top of them. I have a cousin that does some higher level tech support for business software companies and he works US hours, but makes Philippine money (but more than most).

I was doing medical transcription outsourcing for a long time until the technology caught up, and I was hiring MDs in the Philippines for not that much money to transcribe operative reports. It was pretty insane and they worked out pretty well, but I think outsourcing will come back very strong in the near future.

I remember I used to pay Virtual Assistants $2 an hour in India for them to do research for me, and it was fucking shit for the most part. Some would ghost you, but they are very technical and well trained in the tech world, that's for sure. The work ethic and competition in Asia kicks the shit out of the US, they just don't have the opportunity or awareness/comprehension and now they will have to train them to do so.

The Indians was like talking to a fucking wall. But I think it'll be a mix of them improving their skills to fit the suddenly open opportunities.
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Guy I spoke with today said Duarte had a stay at home order that would have you shot for walking the streets and the Philly team was delayed starting by a month.
 
HailBlazers said:
Guy I spoke with today said Duarte had a stay at home order that would have you shot for walking the streets and the Philly team was delayed starting by a month.
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They have neighborhood passes on their phones with checkpoints where they are allowed to go in the city.
 
Neighbor is a designer out at Nike. Said his department isn't going back to the campus until September 1 at the earliest.
 
the more businesses close the cheaper commercial real estate overheads will become here...I see empty malls and buildings for rent by the zillions stateside over the next couple of years..wages will have to match cost of living somehow..I think it will end in less outsourcing not more
 
riverman said:
the more businesses close the cheaper commercial real estate overheads will become here...I see empty malls and buildings for rent by the zillions stateside over the next couple of years..wages will have to match cost of living somehow..I think it will end in less outsourcing not more
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If people are working remotely:

What is the necessity to live in a major, metropolitan area.

Furthermore, what is the necessity to live in the United States?
 
EL PRESIDENTE said:
If people are working remotely:

What is the necessity to live in a major, metropolitan area.

Furthermore, what is the necessity to live in the United States?
Click to expand...
I left the US for 20 years.....there has never been a necessity to live here...it's just a choice. The real estate game is going to burst in my view from a flooded market of commercial properties
 
Curbside pickup is going going to be the new normal. There are going to be apps coming where you will be able to try clothes on virtually.
 
BigGameDamian said:
Curbside pickup is going going to be the new normal. There are going to be apps coming where you will be able to try clothes on virtually.
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I actually went into a regular retail store in Hermosa Beach and shopped around today. Probably 20% of the people out had masks on.
 
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