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| say goodbye to to 200k https://gladerebooted.net/viewtopic.php?f=8&t=6891 |
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| Author: | Leshani [ Mon Aug 08, 2011 9:08 pm ] |
| Post subject: | say goodbye to to 200k |
Well I learned a lesson this weekend, I took on a remote location project that started Friday morning, and went till this afternoon so I had an environment where I was sleeping in my camper (yes that remote), the closest place for cell phone coverage was 2 miles away up the mountain, internet nonexistent until summer of 2013. I get home today and find that my portfolio has dumped 5 percent between Friday and today. Wtf I have invested in companies with a long term stability history, slow growth yes but great for long term. **** you Washington and wall street this **** is out of hand. how does Ge lose 6% in one day or SWA lose 10% in 2 days (the most profitable airline in the world) the only thing showing gains of any type is a life insurance company that I have chump change invested in. I may dump them soon as I think people will be jumping out of windows in the near future. So much for the rant but the money I was planning to use to open a second field office is gone, plans for expansion are on hold indefinitely. |
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| Author: | Elmarnieh [ Mon Aug 08, 2011 9:59 pm ] |
| Post subject: | |
Don't be so glum - the fools will offer another huge cash injection so at the bottom its a buy position. Its a buy position if you're outlook is really long-term as well. |
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| Author: | Leshani [ Mon Aug 08, 2011 10:22 pm ] |
| Post subject: | |
Yep, I'm prep to pull almost everything and hold as reserves until this **** straightens out. Kinda of sucks really business has been really good for the last 3 years, and I had a plan in place to grow but it's shot to hell right now. |
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| Author: | Elmarnieh [ Tue Aug 09, 2011 5:52 am ] |
| Post subject: | Re: |
Leshani wrote: Yep, I'm prep to pull almost everything and hold as reserves until this **** straightens out. Kinda of sucks really business has been really good for the last 3 years, and I had a plan in place to grow but it's shot to hell right now. Maybe hold more liquid assets in the future if you feel you're nearing a growth phase? Shame to because I am sure with this downturn there will be some deals available as business dries up. Borrowing might be an option - rates are low and inflation makes paying back debt easier. Anyway, good luck. |
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| Author: | RangerDave [ Tue Aug 09, 2011 8:54 am ] |
| Post subject: | |
That blows, Lesh. On the plus side, it's nice that $200k is only 5% of your portfolio! But yeah, losing that kind of money - particularly when you have specific plans for it - really sucks. Sorry to hear about it. |
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| Author: | Aizle [ Tue Aug 09, 2011 10:08 am ] |
| Post subject: | |
You only lose that money if you liquidate those stocks now and/or they don't eventually recover. Still sucks. |
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| Author: | Midgen [ Tue Aug 09, 2011 10:37 am ] |
| Post subject: | |
I seriously doubt yesterdays stock market losses are permanent, or even long term. Hang in there... |
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| Author: | Leshani [ Tue Aug 09, 2011 11:37 am ] |
| Post subject: | |
It's a Tough choice to make, I had narrowed my plans for expansion down to a couple different locations, and was getting property information last week. Thankfully I haven't put out an offer any one yet. The loss pretty much equaled what I was planning to spend for property decorating and equipment to get the new location started. Overall for the next I was looking at 350 to 400 in capital expenses. Then the payroll costs would have been small to start with about 8 to 10 a month but would go up if everything went right and we were getting enough business, ideally 1 office manger and 5-6 full time staff. I was planning to partially fund through the slow gains off of my portfolio. With the turmoil in the market I can't safely rely on that source. I may have to roll into something more stable, but nothing is really attractive at the moment. |
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| Author: | Arathain Kelvar [ Tue Aug 09, 2011 11:38 am ] |
| Post subject: | Re: |
Leshani wrote: Yep, I'm prep to pull almost everything and hold as reserves until this **** straightens out. If you do that, then it really is a loss. Don't panic. Hell, it bounced back 200 points today. |
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| Author: | LadyKate [ Tue Aug 09, 2011 12:14 pm ] |
| Post subject: | |
I've never gotten to say hello to 200k, I can't imagine saying goodbye to it. Hope things turn around for you, Leshani. |
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| Author: | Leshani [ Tue Aug 09, 2011 12:46 pm ] |
| Post subject: | |
I been watching today, still nervous about things. if things come back up I'll be happy, but right now my plans are on hold until I'm comfortable with my position. I plan to Reevaluate my short and long term goals and maybe work towards them with a much tighter budget. I just can't bring myself to skimp on payroll, quality people deserve to be treated right. |
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| Author: | SuiNeko [ Tue Aug 09, 2011 1:42 pm ] |
| Post subject: | |
You sound like a decent sort Lesh. Good luck. |
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| Author: | Khross [ Tue Aug 09, 2011 1:45 pm ] |
| Post subject: | Re: |
Leshani wrote: I been watching today, still nervous about things. if things come back up I'll be happy, but right now my plans are on hold until I'm comfortable with my position. Sometimes a lot of small cuts handed out evenly is a lot better than letting one guy go.
I plan to Reevaluate my short and long term goals and maybe work towards them with a much tighter budget. I just can't bring myself to skimp on payroll, quality people deserve to be treated right. |
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| Author: | Leshani [ Tue Aug 09, 2011 2:17 pm ] |
| Post subject: | |
no plans to let anyone go, business is good for me in Phoenix. Just trying to plan how to move ahead with expanding into southern Az more. The past year call from that region have been steadily increasing, I've taking some jobs but not as many as I could have due to the costs of providing the equipment and personal needed. mostly transportation, accommodations, and having resources readily on hand. Every job I took on in southern AZ barely broke even due to the extra expenses. Having a regional office and staff would go a long way in changing the cost dynamics involved. I'm fairly confident that with the right staff in place and the ability to respond faster with good local vendors it's workable and would be profitable inside 3 years. Right now it's the capital outlay that's my concern. I started off with everything I had tied up in this an was lucky to make month to month for my first 2 years, as it sits now I can cover all operating expenses and payroll for phoenix for a little over 1 year, after that I have to make cuts. Tuscon is also very tempting for me to get going as it would give me more reasons to hang out at my property in Rio Rico. |
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| Author: | Leshani [ Tue Aug 09, 2011 2:33 pm ] |
| Post subject: | Re: |
SuiNeko wrote: You sound like a decent sort Lesh. Good luck. I learned very early that good people and their loyalty can be bought, the return from treating them right is well worth it. Everyone I have working for me is in for the long haul, I lost 1 person 3 yrs ago to a car accident, it hurt me and everybody here, he had a wife and a 4yo son. Thankfully he did have the life insurance offered by our plan. I had my wife take care of all the arrangements and expenses. I try to be decent, fair, and honest. I'm also very demanding, things must be done right and safely. |
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| Author: | Elmarnieh [ Tue Aug 09, 2011 2:48 pm ] |
| Post subject: | Re: say goodbye to to 200k |
You're a good man charlie brown. |
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| Author: | Arathain Kelvar [ Tue Aug 09, 2011 3:42 pm ] |
| Post subject: | |
Holy Crap, Leshani is Charlie Brown??? Dude, don't kick the football, it's a trap. Seriously, though, things will settle down. Tough times for all, but if business is good, then you'll be alright in the end. |
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| Author: | Leshani [ Tue Aug 09, 2011 6:23 pm ] |
| Post subject: | Re: |
Arathain Kelvar wrote: Dude, don't kick the football, it's a trap. Seriously, though, things will settle down. Tough times for all, but if business is good, then you'll be alright in the end. Well I'm not Charlie Brown, But when I started my business I was afraid I was going get myself in a trap, Thankfully that didn't happen. but with plans to expand and the market the way it is I fear that I could trap myself and my company, and that really hits on my comfort level. I was probably within a week of pulling the trigger on a Tuscon property and getting things going. Strangely enough when the economy went south my business shot up, The last 3 years have been great to me. I just can't bet on that again. |
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