Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Gees... What's next?
Old 07-02-2010, 01:12 PM   #1
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,264
Gees... What's next?

Maywood, California, lays off all employees - Jul. 1, 2010

Quote:
Tiny Maywood, Calif., laid off every single one of its city employees on Wednesday.
But that doesn't mean the city is closing up shop
Quote:
Instead of declaring bankruptcy, Maywood officials decided to outsource all city functions
__________________

__________________
tmm99 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-03-2010, 04:13 PM   #2
Thinks s/he gets paid by the post
Bimmerbill's Avatar
 
Join Date: Jan 2006
Posts: 1,631
California cutting all employees pay to minimum wage!
__________________

__________________
Bimmerbill is offline   Reply With Quote
Old 07-03-2010, 04:31 PM   #3
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,151
Looks like California's financial situation is rosy when compared to the looming disaster in Illinois (AKA "Greece by Lake Michigan").

NYT: Illinois facing fiscal 'disaster' - Business - The New York Times - msnbc.com
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 07-03-2010, 04:39 PM   #4
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
The condition of state and local government finances is the main reason I'm only about 50% in stocks, and even that feels too high. But as I've said before, if that 50% tanks, I have another 50% to pick up the pieces when the smoke clears. It's hard to see how this doesn't end very, very badly before getting a handle on it.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 07-05-2010, 01:30 PM   #5
Moderator Emeritus
 
Join Date: Oct 2007
Posts: 4,929
Quote:
Originally Posted by Bimmerbill View Post
California cutting all employees pay to minimum wage!
Good news, everyone!

California government consulting firms now have job openings for legacy systems archaeologists, programmer/archaeologists who understand how to modify and debug COBOL software (with maybe ADABAS) running in a System/360 (late 60s vintage) emulation running in MVS running in a systems complex under ZCF/ICF. (As I understand it... I've done way too much legacy support, but that was more along the likes of getting Mac Classic to play nice with Mac OSX, where the folks who wrote the original were still alive!)

Alas, the people who knew what that meant have retired, and none of the High Priced Consultants have been able to figure it out.

Now, the COBOL payroll software at the heart of the beast doesn't use anything that a database programmer would recognize. There's no real transactional processing here. It predates VSAM. (nervous yet?) Specifically, the beast doesn't have the facility to track what someone should be paid, pay them a different amount, and track the accumulated difference in pay, and difference in charges to department payrolls, and all the other fiddly bits.

They also don't have the staff to quickly write all this new code to implement the needed facilities, figure out how to shoehorn it into a virtual Sys/360 machine, test, and debug it. Certainly not on minimum wage!
__________________
M Paquette is offline   Reply With Quote
Old 07-05-2010, 01:40 PM   #6
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Quote:
Originally Posted by M Paquette View Post
Alas, the people who knew what that meant have retired, and none of the High Priced Consultants have been able to figure it out.
You mean they haven't been able to coax anyone out of retirement to do consulting work for minimum wage?
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 07-05-2010, 02:59 PM   #7
Moderator Emeritus
 
Join Date: Oct 2007
Posts: 4,929
Quote:
Originally Posted by ziggy29 View Post
You mean they haven't been able to coax anyone out of retirement to do consulting work for minimum wage?
Bingo! A succinct summary of da situation.
__________________
M Paquette is offline   Reply With Quote
Old 07-05-2010, 04:18 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2004
Posts: 11,617
Quote:
Originally Posted by ziggy29 View Post
You mean they haven't been able to coax anyone out of retirement to do consulting work for minimum wage?
Maybe the bad economy will produce its own solution. Some of those retirees with needed knowledge are likely to be retired California State employees. If the retirement checks start bouncing, maybe they'll agree to come back to work--but I'll bet they demand cash payment.

Quote:
Originally Posted by ziggy29 View Post
The condition of state and local government finances is the main reason I'm only about 50% in stocks, and even that feels too high. But as I've said before, if that 50% tanks, I have another 50% to pick up the pieces when the smoke clears. It's hard to see how this doesn't end very, very badly before getting a handle on it.
Do you see a specific mechanism by which the state budget woes result in big equity declines, are are you just worried that the state problems will result in a pall that affects the markets? It's at least possible that if state and municipal budget woes get bad enough that some Muni money will go to equities--for safety.
__________________
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein
samclem is online now   Reply With Quote
Old 07-05-2010, 04:52 PM   #9
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Quote:
Originally Posted by samclem View Post
Do you see a specific mechanism by which the state budget woes result in big equity declines, are are you just worried that the state problems will result in a pall that affects the markets? It's at least possible that if state and municipal budget woes get bad enough that some Muni money will go to equities--for safety.
I think it will lead to a new wave of "buy nothing and hoard cash" among public employees who may have felt immune to or bulletproof from economic deep doodoo until now. Which in turn can result in reduced demand for all but the essentials, lead to more layoffs, cause more people to hoard cash, and down we go again just like in '08 into the first half of '09.

Hope it doesn't happen, but that's what I expect to see. I believe this next leg of the economic "retooling" is going to finally be the one where many government employees have to start facing many of the same economic and employment concerns as their private sector counterparts.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 07-05-2010, 06:29 PM   #10
Thinks s/he gets paid by the post
Bimmerbill's Avatar
 
Join Date: Jan 2006
Posts: 1,631
I bet you will see a bunch of retirements too. At least for those on the fence about pulling the plug. Take the money (while its still there) and run!
__________________
Bimmerbill is offline   Reply With Quote
Old 07-05-2010, 06:54 PM   #11
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,620
Quote:
Originally Posted by samclem View Post
Maybe the bad economy will produce its own solution. Some of those retirees with needed knowledge are likely to be retired California State employees. If the retirement checks start bouncing, maybe they'll agree to come back to work--but I'll bet they demand cash payment.
I'd think that programmers of arcane, complex, obscure, poorly-understood languages would be deliriously happy to code back doors updates to payroll systems... who needs cash after that?
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 07-05-2010, 07:01 PM   #12
Full time employment: Posting here.
antmary's Avatar
 
Join Date: Mar 2008
Location: Northern California
Posts: 542
I have several relatives retired from the State of California; I am wondering how the recent downturn will effect their pensions, if at all. They are all retired professors.

I hope I'm not asked to get the spare bedroom ready
__________________
antmary is offline   Reply With Quote
Old 07-05-2010, 07:18 PM   #13
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Quote:
Originally Posted by antmary View Post
I have several relatives retired from the State of California; I am wondering how the recent downturn will effect their pensions, if at all. They are all retired professors.

I hope I'm not asked to get the spare bedroom ready
Given that states can not declare bankruptcy, federal laws concerning protections for pension benefits already earned and CA state laws using the power to tax as a guarantee to state pension funds, I wouldn't worry too much. Those on local government pension plans are at greater risk. They can't print money and they CAN declare bankruptcy.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 07-06-2010, 09:01 AM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2004
Posts: 11,617
Quote:
Originally Posted by Nords View Post
I'd think that programmers of arcane, complex, obscure, poorly-understood languages would be deliriously happy to code back doors updates to payroll systems... who needs cash after that?
If they set up a subroutine that rounded off the excess portions of a penny from each transaction into a special account . . . .
__________________
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein
samclem is online now   Reply With Quote
Old 07-06-2010, 09:22 AM   #15
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Quote:
Originally Posted by samclem View Post
If they set up a subroutine that rounded off the excess portions of a penny from each transaction into a special account . . . .
That would be terrific.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 07-06-2010, 09:25 AM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2004
Posts: 11,617
Quote:
Originally Posted by ziggy29 View Post
That would be terrific.
"Yeah . . .I'll need you to go ahead and come in on Saturday to work on it . . ."
__________________

__________________
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein
samclem is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 11:12 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.