Tag Archive: Underwater Mortgages


I’m in favor of progress; it’s change I don’t like.” – Mark Twain

“ … Personnel. That’s for assholes.” – Clint Eastwood as “Dirty Harry”.

Your company was just acquired.

Your firm “merged” with another company.

Your new boss is an outsider, who knows next to nothing about you.

Consider each-and-every one of these changes to be a flashing-red-light warning or a shot across-the-bow of your career. .

There are always winners and losers when it comes to mergers and acquisitions. Ditto for new bosses, particularly those from outside the organization.

In all of these cases, It’s not only time, but most likely it is past time, to update your resume and enhance your LinkedIn profile.

Why?

Think of it this way: Whenever a new male lion enters the picture, the first thing he does is … eat the cubs of the previous King of Beasts. Translating to the work place, this parable means the “old” employees from the acquired, merged or new management companies are immediately vulnerable.

Can’t tell you how many times Almost DailyBrett heard laments from employees, who have been with an organization for 10 years, 15 years, 20 years, (gasp) 25 years. They expect their loyalty and experience to be recognized and rewarded.

Alas more times than naught, their self-perceived loyalty is regarded as stagnation or “dead wood” by new management. Worst of all, these folks are shocked when they are sooner-than-later laid off or simply terminated/let go.

“I wish I could trust you … “

During the course of my three-decade-plus career, the author of Almost DailyBrett quickly came to appreciate that virtually all of these changes serve as a warning, despite the tender contrary for the timing being words uttered by highly trained and incredibly skilled Human Resource professionals.

Keep in mind HR works for the organization not for the worker, especially the long-time employee. When it comes time to terminate/lay-off/let go of employees, the clinical execution will be swiftly carried out by HR.

Maybe Clint Eastwood was right about “Personnel” (What HR was referred to back in the 1970s). Let’s face it HR is not highly respected in any organization, a necessary evil … and in many cases, an evil indeed.

Once your author went eyeball-to-eyeball with a vice president of HR and said, “I wish I could trust you.” There is another less tender way of expressing the same sentiment. The message is still the same.

HR is not your friend. HR never was your friend. HR never will be your friend.

Self-Defense Strategies

Trust in Allah, but tie your camel.” – Arab Proverb

What strategies should you adopt to preclude being one of the cubs voraciously consumed by a new boss lion, mainly because you have been at the old firm for way too long?

  • Most new managers, particularly emanating from the outside, have their own views of how tasks must be done and they have their own ideas about who should be their lieutenants. Don’t even expect to be given the chance to compete for your own job, let alone a higher job in the hierarchy.
  • Don’t confuse loyalty and stagnation. What is one employee’s loyalty is a new manager’s stagnation. If you can count your years with an organization with two hands or more, it’s time or past time to move along on your own terms.
  • Never remind new superior(s) about how long you have been at an organization and the value of your experience. Instead demonstrate what you can do to assist their new future direction. The tried-and-true: “We tried that once and it didn’t work” will result in you being consumed by the new lion.
  • The world has changed. The notion of starting in the mail room, working for decades to become CEO and retiring with a gold watch is dead and buried. You will not be rewarded for your “tenure.”
  • Suing for age discrimination is a sure-fire loser. Who will want to hire you, if you “win” your suit? Most likely, you will be laid-off, requiring you to sign away the company’s liability in exchange for a golden kiss-off check.
  • In Silicon Valley, three years at a given organization signals in many cases a lack of ambition and stagnation. You should always be looking to the horizon. When the recruiter calls stop, consider that as a negative barometer.
  • Keeping “your powder dry” or “tie your camel” in the modern era translates into ensuring your resume, digital portfolio and LinkedIn profile are always up-to-date. It means scanning the horizon for other employment opportunities and applying for them from time-to-time if the fit is right.
  • Be ready to pull-up-stakes, if necessary. The green grass maybe even greener in another venue. Renting maybe a better option than a mortgage. If your mortgage goes underwater that can turn a job loss into an absolute nightmare.
  • In the week between your holiday of choice and New Year’s Day, you should always conduct a personal audit of your career. Recognize the subtle warning signs including not being included to important meetings and not being sought out for input from management. If it is time to move on, then do so on your own terms.

http://www.quotes.net/quote/58937

http://idioms.thefreedictionary.com/keep+powder+dry

http://www.joyfuldays.com/trust-in-god-but-tie-up-your-camel/

https://almostdailybrett.wordpress.com/2014/01/02/farewell-lsi-logic/

“When the war was over, the men and women who had been involved … joined in joyous and short-lived celebrations, then immediately began the task of rebuilding their lives and the world they wanted … They married in record numbers and gave birth to another distinctive generation, the Baby Boomers. They stayed true to their values of personal responsibility, duty, honor and faith.” – Former NBC anchor Tom Brokaw, The Greatest Generation 

“Tom Brokaw once wrote a book about the greatest generation, those brave people who survived the depression and fought in World War II. Unfortunately that great generation spawned a generation of narcissists: the baby boomers.” – Huffington Post blogger Gene Marks

The Baby Boomers are inevitably moving day-by-day toward the ash heap of recorded history … and not a moment too soon.woodstock

USA Today last week reported for the first time ever, the number of Millennials exceeds the population of Baby Boomers by an 83.1 million to 75.4 million count, according to the 2014 U.S. Census.

Poor Millennials and X-Gens. They will be the first generations in American history to have a worse standard of living than the preceding generation … that would be the Baby Boomers.

Many Millennials are going to college, graduating with oppressive student loan debt or for the lucky few, no debt, and settling for a job that once did not require a degree, and pays $10,000 less now than it did in the 1980s.

“Will that be a latte, cappuccino or mocha, sir (or madam)?”

And as a result of this economic dilemma, many Millennials particularly those saddled with an average of $40,000 in college loan debt, are being forced to … yes, move back into a parent’s or parents’ home.

Where will the “Hello Kitty” poster go?millennials

Can Millennials buy a house, even with near-record, low-interest rates averaging 4.19 percent this week? The author of Almost DailyBrett remembers buying his first house for $120,000 in Sacramento in 1984 at a 30-year fixed rate of 14.25 percent, paying two points for the privilege. Two years later, your blogger refinanced the loan down to 10.25 percent, once again paying two points.

Do you think Millennials can find any house in California for $120,000 that will not come with meth- lab neighbors, who will soon be auditioning for The Jerry Springer Show?

Brokaw wrote about “personal responsibility, duty, honor and faith” in describing the virtues of the Silent Generation, born between 1925-1945, which stared down the Global Depression and won World War II on two theatres of combat.

Do you think anyone would ascribe any of these Silent Generation virtues – personal responsibility, duty, honor and faith — to the hedonistic Baby Boomers? Seems like a silly question.

The Entitlement Generation 

“The selfishness that has been a hallmark of the Boomers will continue right up to the very end, as they force millions of younger Americans to devote an inordinate amount of time and resources to their care, bankrupting the Social Security system in the process. In their old age, the Boomers will actually take as much from the next generation as they did from the previous one, which fought WW II.” – The Onion, January 20, 1999

“But you know nowadays
It’s the old man,
He’s got all the money
And a young man ain’t got nothin’ in the world these days
I said nothing” — The Who, Young Man Blues

If it feels good; do it.

Sex, drugs and rock n’ roll.

Almost DailyBrett refrains for the most part in making absolute predictions, but will do so in this case:

Someone, someday will write an epic tome glorying the “Me, Me, Me” generation, and will attempt to be the Tom Brokaw of the Baby Boomers. It will be a pathetic effort that will nonetheless be coffee-table book lucrative because there will be some in the born-between-1946-1964 crowd, who will want to desperately justify their sorry existence on the planet.

They will point to the end of the Vietnam War. They will direct attention to the campaign for the equal rights for women. They will wax nostalgic about the civil rights marches. There are already plenty of revisionist Oliver Stone movies that make these very same points.

But weren’t all of these crusades … sorry bad word with religious overtones for some Baby Boomers … weren’t all of these movements mounted back in the 1960s? What have you done for us since then? Legalized marijuana?

The same-sex marriage victory? That achievement must be shared with Millennials and X-Gens.

Baby Boomers burned the flag, staged Woodstock and Altamont, the latter came with Hells Angels and bloody pool cues. Many against-the-war-in-Vietnam types still don’t like America very much,  bitching and moaning, while not even considering moving anywhere else.

Way too many Baby Boomers made lifestyle choices, which contributed to a nearly four-times increase of former workers on disability from 2.8 million in 1981 to 8.5 million in 2011. Guess who is and who will be paying the bill for these Americans, most of whom will never work again?

The federal deficit was $2.8 trillion in 1989. Thanks mainly to the explosion of growing entitlements for Baby Boomers and some others; the red ink now stands at $18.1 trillion last month … another bi-product of the Baby Boomer generation.

Many Baby Boomers, including those who decried the “Military-Industrial Complex,” became very wealthy during the Internet boom (e.g. Yuppies), buying every McMansion in sight and driving up prices, until (you knew it had to happen) the Bubble burst, and their expensive cars were repossessed.

While markets were recovering, far too many Baby Boomers drove up their plastic debt, and then turned to real estate and refinanced to the max to keep up their spending habits until (once again: you knew it had to happen) … the real estate Bubble burst. Many were left with underwater mortgages … and simply walked away from their houses.

What was left for the Millennials, holding the bag? A rotten economy. Overpriced real estate, transforming the American Dream of home ownership into a pipe dream. Soaring tuition at colleges and universities and with it, $1.2 trillion in cumulative student loan debt.

And when they graduate? Part-time McJobs with no benefits for far too many. And you wonder why the Millennials are mad at the Baby Boomers?

Before going any further, the author of Almost DailyBrett has a confession to make: Yes, I was born in 1955, and am a card-carrying member of the Baby Boomer generation.dinosaur

Does it seem that I am rooting for my own personal demise as more Baby Boomers pass into the abyss every day? Well, no.

Am I embarrassed to be part of this selfish generation and wished it was different, far different? You bet ya.

Will Steven Spielberg, born 1946, serve as the executive director for “Baby Boomer World,” featuring out-of-control, carnivorous, vegetarian, vegan and gluten-free dinosaurs?

Be afraid, be very afraid.

http://www.usatoday.com/story/news/nation/2015/06/25/millennials-now-outnumber-boomers-census-says/29294241/

http://thoughtcatalog.com/matthew-primeau/2015/01/baby-boomers-ruined-the-world-for-millennials/

http://www.huffingtonpost.com/gene-marks/this-is-why-the-baby-boom_b_4441735.html

http://www.esquire.com/news-politics/a1451/worst-generation-0400/

http://www.forbes.com/sites/jmaureenhenderson/2013/11/30/millennials-earn-less-than-their-parents-and-the-recession-isnt-to-blame/

http://www.cnbc.com/id/102410254

http://www.economist.com/blogs/democracyinamerica/2012/06/generational-decline

http://money.usnews.com/money/blogs/on-retirement/2014/05/20/8-differences-between-boomers-and-millennials

http://apps.npr.org/unfit-for-work/

http://www.theonion.com/article/long-awaited-baby-boomer-die-off-to-begin-soon-exp-647

http://www.theatlantic.com/national/archive/2013/05/why-the-boomers-are-the-most-hated-generation/276368/

http://home.adelphi.edu/sbloch/deficits.html

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