Not everyone is broke

[blueonblack]

I recently got the numbers for the company I work for for the last fiscal year, and I wanted to let everyone know that not everyone is doing badly. This company is privately owned, so the profit is all going to the owner/CEO, above and beyond all the salaries, upkeep, and any and all other overhead. (That's why they call it profit.)

The owner of this company made 90 million dollars last year. To put that in perspective, that's over $10,000 per hour, 24 hours a day for an entire year. Even if you take half of it for taxes, it's $5,000 an hour.


http://bestsmileys.com/puking/2.gif

I know, I know, I should be glad for him, and I am, especially since he employs me, but good God.

Oh! And he owns a casino, too. That's not even in that figure.

[Oneslowz28]

I so want to get back into the construction industry for this reason.

[blueonblack]

?? :think:

[Oneslowz28]

I meant I want to get back in construction for the $$$$$. I know you are in a different industry but they are both a necessity based industry and not luxury based like photography is.

[slaveofconvention]

Just one of those things - luxury industries make more money, but not all the time, the essentials are the slow burners... Occasionally you find a business that offers both - where I work, an auto bodyshop, we're seeing a big drop off in the number of people who just want the car to look its best, or are doing purely cosmetic improvements (last full respray was about 4 months ago), but at the same time, we're seeing a surge from people with older cars who need to keep them for another year or two because they can't afford something new(er)

[x88x]

Great to hear about your company, BoB! Even if you're not making stupid amounts of money, at least you don't have to worry about them laying people off. :D

I really think the whole economy thing has been blown way out of proportion...or maybe I'm just insulated from it, idk. The company I work for is doing pretty well too...publicly traded, too. :D $11.694 billion revenue with $775.20 million in net revenue in 2008. ...of course, none of that helps my paycheck... :lick:

[Drum Thumper]

And here I thought this thread was going to be about the owner of the LA Dodger's alimony payment of $637k a month to his bitch of an ex wife, roughly $225k of which is to cover her living expenses.

Roughly $7.4 million a year for upkeep on the seven houses she got in the divorce settlement. Personally, I think this **** should have to sell six of the houses.

[knowledgegranted]

CJ don't get into the construction industry now, there is no money. I should take pictures of the towns and bridges around my area. There are half done houses everywhere. There is a bridge in my town that's half done and there are blocks so no one falls off.

This is all because of the construction companies that are going out of business around here. It's not any single market either (Luxury, upscale, low income housing, or industrial) basically half of MA is like this. I'm sure my fellow buddy from MA can say the same.

[x88x]

And here I thought this thread was going to be about the owner of the LA Dodger's alimony payment of $637k a month to his bitch of an ex wife, roughly $225k of which is to cover her living expenses.

Roughly $7.4 million a year for upkeep on the seven houses she got in the divorce settlement. Personally, I think this **** should have to sell six of the houses.

-_^ ...how the **** do you spend $225k/mo in living expenses??? I wouldn't even begin to know what to do with that. Heck, I wouldn't know what to do with that much a year at this point in my life...people never cease to amaze and disgust me.

[artoodeeto]

-_^ ...how the **** do you spend $225k/mo in living expenses??? I wouldn't even begin to know what to do with that. Heck, I wouldn't know what to do with that much a year at this point in my life...people never cease to amaze and disgust me.

so true. my company stands a real good chance of going under, partly due to the bad economy (our clients are developers), but also due to horrificly fiscally incompetent management. we've gone from 100 employees or so at the end of 2008, down to 40 now and realistically...we can probably only support 20-30 with our current workload. I *think* my job is pretty secure, as long as the company stays in business, but I don't really know for sure. So yep, BoB, at least yours it sounds like won't be laying anyone off. I've been constantly worried about that for over a year...not real fun, and i'm definitely starting to look....

[knowledgegranted]

-_^ ...how the **** do you spend $225k/mo in living expenses??? I wouldn't even begin to know what to do with that. Heck, I wouldn't know what to do with that much a year at this point in my life...people never cease to amaze and disgust me.

The only thing I can think of that they could be spending that on is disposable 24kt Gold Forks, Knives and spoons. Maybe a couple gold toilets too.

[nevermind1534]

Like Saddam's palaces?

[x88x]

The only thing I can think of that they could be spending that on is disposable 24kt Gold Forks, Knives and spoons. Maybe a couple gold toilets too.

Wouldn't that be covered under 'maintaining the houses'? :P

[blueonblack]

I didn't mean to sound ungrateful, I know I'm lucky to have the job, believe me, and I've got all the job security a guy could want. Unless I'm able to break loose I could very easily sit at this desk until I die.

To those who's employment isn't so certain, apologies. It was not my intent to complain about my own lot, just that of my obscenely wealthy boss. To his credit, he did start the business himself with pretty much nothing 40 years ago.

[x88x]

I think it's great that your boss has done so well for himself, but I think the true measure of someone with that much money is what they do with it. (Hint, $225,000/mo in 'living expenses' is not a good thing to do with it -_^ )

[Mach]

No, not everyone is broke...

http://lh5.ggpht.com/_UdQdiSb7gT4/S-bVkENS8GI/AAAAAAAAKio/eLuE8hrHN3A/s400/IMG_0161.JPG

[blueonblack]

Nice. That your new ride, Mach? Let me guess, you modded it from a '66 Impala...

[Twigsoffury]

: P

Well i'm not doing to bad these days.

Scooped this house up when i was 20 for 8,900$ from a sheriffs auction.

http://i40.tinypic.com/2vt5onl.jpg

Heres what its like these days (i'm 25,almost 26) : P

http://i44.tinypic.com/15i9ppt.jpg

That pictures still old.
New double pane,slider Vinyl windows (haha thx obama) with LOW-E on the South and West sides of the house (clear on the east and north) on the 1st floor. Aluminum W/ lower mutton bar up top. (already seen in that picture)

Every single little bit of work i've done myself, or had friends help

Helps to have a lot of construction friends, and a electrician that'll work for beer and green.

Hah when i first got it. It had 7' 2" ceilings (thought it was strange)

oops, really had 12' ceilings and had a fake ceiling put in to run the Crap A/C ducting. (hahhaha terrible job whoever did it)

4 Zone Dual "Green" Trane units in it now. (hah aluminum radiators, keeps the copper theifs away, even says "ALUMINUM COMPONENTS" on the sides.

County assessor has it as 172K, haha not bad for about 20,000$ invested.

Trying to build up the cash for vynil siding next. then it ought to really look sweet.


Grandpa had it right when he said "dump your cash into a house, not your car."

Used my house to borrow against all sorts of stuff i've needed. Never you know HUGE amounts which seems to get people into trouble. but a took out a 5,000$ loan with that house for the car (already paid for)

Damn glad i don't need to compensate for whats in my pants, that toyota echo had paid off since gas became spectacular expensive. Used to cost 14$ to fill that tank when i first bought it, now its 27$ to fill it and squeeze 400 miles from it, still not bad.

[x88x]

Wow, congrats man!

[Mach]

Nice. That your new ride, Mach? Let me guess, you modded it from a '66 Impala...

Lol, no its a Bugatti Veyron Fbg Par Hermès. Top speed 253 MPH and about 1.7 million as it sits in that picture. I'll leave it to you to figure out where I took the picture.

@Twigs: Your grandfather sounds like a very wise man. Nice job on the house and your life acumen.

[Airbozo]

OP: I have noticed here in Northern California that most of the companies that are doing OK or good are privately owned. The company that I work for is privately owned and we have grown at least 10% each year for the last 3-4 years. Now if the owner would stop using the company as his personal ATM, we could expand.

Twigs: Good move on the house. Wise investment and the way you acquired the house can be a pain, but looks like you have dealt with it OK. I bet your neighbors love you for cleaning that wreck up. I was tempted to use vinyl siding on my house but ultimately decided on the composite concrete siding. Lasts forever and with a good initial paint job, you won't have to paint for many years, only power wash. It also adds more value to the house. You can get it pre-painted or primered only.

[x88x]

Lol, no its a Bugatti Veyron Fbg Par Hermès. Top speed 253 MPH and about 1.7 million as it sits in that picture. I'll leave it to you to figure out where I took the picture.

Hmmm, let's see...there are only 7 Veyron owners that live in the US. Assuming you weren't overseas when you took it, that narrows it down a bit...

[artoodeeto]

and at least one of those owners is here in southern CA. might even be 2, I'm not sure (I've seen 2 Veyrons here, but it could easily be the same one twice). Looks like an arabic license plate though, not american...? Was the pic taken over in Dubai or a similar area?

[Mach]

Was the pic taken over in Dubai or a similar area?

Good call, it was parked outside the Atlantis a couple weekends ago. Drawing quite the crowd too.

[TheGreatSatan]

I'm not broke.

When anyone asks, how I afford things I always say: "Satan provides"

[Twigsoffury]

Good call, it was parked outside the Atlantis a couple weekends ago. Drawing quite the crowd too.

I'd still race it in my 103Bhp Toyota echo.

I know i'll lose, but that ain't stopping me.

[artoodeeto]

nah, what'd be fun is to take a junky peeling-paint little car, pull out the back seats, stick a V12 in there, pop a spoiler on the back, THEN go race the Veyron. you'd still lose, but at least you'd surprise him a bit.

[Airbozo]

nah, what'd be fun is to take a junky peeling-paint little car, pull out the back seats, stick a V12 in there, pop a spoiler on the back, THEN go race the Veyron. you'd still lose, but at least you'd surprise him a bit.

I had an old Cutlass Supreme that looked like it just barely survived a nuke. I bought it from a guy who had put about $3k into the engine and transmission and he got sent overseas before he could finish the car. It was a real POS looking car, but I could smoke anyone that dared challenge me. Surprised a lot of people how fast that thing was on a straight away, even me. It was great to see people laugh at me when I was at a red light and how fast the laughter changed when I was waiting for them at the next light.

[x88x]

Heheheh, I love sleeper cars. :D For (imo) the ultimate in that, check out White Zombie:
http://www.plasmaboyracing.com/whitezombie.php

1972 Datsun 1200. Looks pretty stock on the outside, but on the inside...it's the second quickest street legal electric car in the world, with a 11.466 second 1/4 mile. :twisted:

[dr.walrus]

hah aluminum radiators, keeps the copper theifs away, even says "ALUMINUM COMPONENTS" on the sides.

It either takes a special type of person or a house in a 'special' area for someone to talk about this when they're introducing their house ;)

[chaksq]

Scooped this house up when i was 20 for 8,900$ from a sheriffs auction.

~

Grandpa had it right when he said "dump your cash into a house, not your car."
Excellent work man! I'm 20 now and I'd definately like to do something like this myself. Would you mind giving my some advice on getting started doing this?