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by Henrik

Twitter Updates for 2009-03-31

March 31, 2009 in Daily life

  • The Red Barn Toastmasters in l:Tukwila, WA; is having an open house tomorrow. For general info, see http://ping.fm/zWB3F #

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by Henrik

Twitter Updates for 2009-03-28

March 28, 2009 in Daily life

  • I passed my written exam in an attempt to become a registered court interpreter. #
  • No mor zigs for the Zags :-( #

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by Henrik

Twitter Updates for 2009-03-26

March 26, 2009 in Daily life

  • @chrispirillo re:sushi. I thought you had an iPhone? 😉 #
  • Organizing and renaming image files on my computer. It takes a lot of time. Hopefully it will all be right when I’m finished. #

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by Henrik

American International Greed

March 21, 2009 in Politics

In the old movie Wall Street we were told that greed is good, although it is one of the seven deadly sins. Actually the foremost in my mind, since all the other ones are really just greed for something specific (food, sex, leisure, etc.). And now this whole AIG debacle has made the letters stand for Arrogance Incompetence Greed. Just the kind of image you would want your company to have. Anyway, I think all the outrage is an outrage. It is not as if this comes as any surprise. I mean that the corporate high fliers help themselves to amazing riches, on the dime of the general public. If it’s not tax payers’ money it’s the pension funds for you and me that buy the stocks that keep theses fat cats fat. In the case of the AIG financial people that just got their money, I can understand the underlying reason for wanting to pay them the award. You know that you’re in for a tough time and you need to decouple certain things as fast as possible, and to make sure that it’s timely you tell the people that knows the mess from the inside that if you stay with the company and help us wind this down we’ll pay you a little bit extra at the end. So far I fully agree. And I think that maybe two or three months salary would be a reasonable amount. After all, they are getting paid in the mean time anyway. But the amounts that they got paid.

Sheesh! If $6.2 million is equivalent to a year’s salary, that person should have been fired on the spot for getting AIG into the situation they were. And what does congress do? They do what they should have done long ago. They make sure that there is a law that caps the payments for companies getting bailed out by public funds. After all, the alternative is bankruptcy, which would pay most people very little, if anything. But the irony of the House of Congress bill is that that most of the AIG Finance people are located in London, UK, and as far as I know they are not affected by US tax law. So they still get their money untouched. All this while AIG is suing the IRS to get some tax money back. They are suing their majority owner. That’s some cojones. Read the rest of this entry →

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by Henrik

Six and a half million dollars bonus

March 16, 2009 in Politics

Yes, you guessed it. Some of the bonus for AIG top executives for last year’s stellar performance. And note, that this is just the bonus.

I made a quick calculation on this. What about if this was the full year’s salary, and not just the cream on top? What if you were to hire this person out as a consultant, since the person i question has to be absolutely brilliant to deserve such a salary?

Long time ago I learned a very rough rule-of-thumb for how much you had to charge a client for a consultant. The rule was that you would have to charge about 3 times the salary you paid to cover for all the other costs involved (including the risk of having them sitting on the bench).

So how much is $6,500,000 really if you start to break it down? Well it’s $125,000 per week, or $25,000 per day if you assume a 5 hour work week. If you then assume 8 hour work days we get to $3,125 per hour.  So to hire a person earning that amount of money as a consultant would require you to pay roughly $10,000 per hour.

If you need somebody I’m available…

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