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Politicians Make Me Laugh - The Cover Story
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Wed, Apr. 20th, 2005 09:00 pm
Politicians Make Me Laugh

Yesterday President Bush responded to General Motors posting a $1.1B loss with "They are going to have to learn to compete".

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mikecap
mikecap
Mike Caprio
Thu, Apr. 21st, 2005 02:12 am (UTC)

Well, y'see son, they ain't in energy. If they was in energy, I'd give em an eight billion dollar subsidy with my latest bill, y'see. But y'see, corporate bankruptcy is right up their alleyway, yup, because they'll jes cut their employees' health bennies and pensions off and I jes signed that there bankruptcy bill so that people who have health issues and retirement problems won't have nowheres to turn to... hyuk hyuk hyuk


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sirroxton
sirroxton
Adam Augusta
Thu, Apr. 21st, 2005 12:14 pm (UTC)

That's hilarious.


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sirroxton
sirroxton
Adam Augusta
Thu, Apr. 21st, 2005 12:15 pm (UTC)

Probably a good thing I sold my stock right before they made that announcement. Still, I was holding out for a seat on the board...


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bronzite
bronzite
Robert Bronzite
Thu, Apr. 21st, 2005 01:11 pm (UTC)

So what was the final value of your stock when you sold it?


ReplyThread Parent
sirroxton
sirroxton
Adam Augusta
Thu, Apr. 21st, 2005 01:25 pm (UTC)

Um, $34/share I think?

I'm kicking myself for ever screwing around with it. I should have looked at my Ameritrade plan more closely. I paid more in Ameritrade fees than I got in dividends. Plus, it disqualified me from filling out the EZ.

When I settle into a stable income, I'm just going to pay some fatcat to handle my finances. It's just don't think it's worth my time.


ReplyThread Parent
bronzite
bronzite
Robert Bronzite
Thu, Apr. 21st, 2005 02:37 pm (UTC)

In all fairness, one doesn't expect bluechip stocks to perform the way GM has been. No need to kick yourself over it. And hiring a money manager is probably a good plan. Just sink your cash into a mutual fund and let it ride for a few decades.


ReplyThread Parent
sirroxton
sirroxton
Adam Augusta
Thu, Apr. 21st, 2005 04:43 pm (UTC)

*grin* Yeh, but I knew how much I would be getting in dividends -- that's static. I thought I wouldn't get fees unless I did trading. In the end, I got no dividends and had a $40 negative balance. :)

But yeah, I'm about that. The real question is -- what if I'm more interested in having some capital for my own business than I am in having a cushy retirement? :)


ReplyThread Parent
bronzite
bronzite
Robert Bronzite
Thu, Apr. 21st, 2005 05:32 pm (UTC)

Typically you get your capital for a new business from one of two places: Personal Savings or by having investors.

Generally speaking, personal savings are only used for ultra-small business startup -- things like "I pack letters at home for companies" or "I run a consulting firm of Me and Associates out of my home", things that don't require real estate or major capital investment (over $10,000 for somebody in your economic demographic). Anything larger than that requires investors, either in the form of Venture Capital, or, more commonly, a small business loan.

No matter what, though, having a retirement fund is important. Remember: in all probability, Social Security will tank by the time we hit retirement age.


ReplyThread Parent
sirroxton
sirroxton
Adam Augusta
Thu, Apr. 21st, 2005 06:07 pm (UTC)

It's important to have some personal money as a downpayment on a business loan though, ihdinit? I'm totally fiscally naive. I knew I should have done a business minor.


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