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GoGoGadgetChris posted:Eh, they're all mass produced and have no sentimental value. They could be replaced with money if needed. The same is true with my schnauzers.
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Feb 1, 2019 05:34
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Lowness 72 posted:What about METS degrees? GWM for Bobby Bonilla.
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Apr 17, 2019 12:51
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honkwins posted:NHL only allows bonus structure in contracts for entry-level deals and deals signed when the player was 35+, so it's unlikely much got paid out there. Professional baseball players get paid twice a month only during the regular season. This goes all the way down through the minor league where the monthly salary is less than $2000. Going to the playoffs in minor league baseball costs players money because their off-season jobs usually pay more. They also have clubhouse dues that take most of their per diem. Unless you got a good signing bonus or are guaranteed to hit the 40 man roster, MiLB is really bad with money.
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May 19, 2019 21:26
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BloodBag posted:My thoughts exactly. The job market is sick here. It's like he's never applied for a computer toucher job at an oilfield service company. They make you pee in a cup though, so you can't do  for the few weeks it takes to clear your system.
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Jun 24, 2019 20:43
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Alan Smithee posted:BWM near success story: I really want to know what his "lifestyle creep" was. Horses? Funkos? Boats?
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Jun 29, 2019 15:50
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I heard some pretty  level BWM at work today. Practically all oil tanks on a well site have a small amount of heavy natural gas that breaks out and needs to dealt with. In the not too distant past (probably 10 years or so ago), operators just left the thief hatch on the top of the tank open so the gas would just vent out, which is a huge environmental, health, and safety issue. Nowadays, companies will send the gas to a flare or combustor to burn it off because it isn't economic or reliable to use a vapor recovery unit (VRU) to compress it into a sales line.A company has come up with the idea that if you can't put the gas through a sales line, you can use it to run a generator. Since most of the wells in this area run on electric power and generators can be very iffy to run on produced gas, their solution is to use the generators to mine Bitcoin. There is no reliable internet connection for 95% of West Texas and even if there was, running a generator on such heavy gas winds up with incomplete combustion and would violate several other environmental limits. Their business model is also very bad with business because right now they go to companies to try and sell their equipment, get an idea how much gas is being flared, and then go to the state regulators and protest every flaring permit to try to force companies to use their product. There's an even bigger Permian Basin BWM in that $12 billion of venture capitalist money is locked up in leases with absolutely no exit plan outside of spending another $10-20 billion actually drilling wells because the acreage flipping market completely collapsed.
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Aug 8, 2019 01:26
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I would love to be FIRE, but I don't want to blog, which I assume is a requirement. I guess I'll just continue slurping up this earth blood until the guillotine finds me. In BWM news, my brother's house had black mold that needed to be removed so obviously he and his wife decided it was the perfect time to redo that bathroom, another bathroom, their kitchen, and convert their garage to an extra bedroom. Their contractor was "recommended" by someone in their church with the caveat that he is always late and always over budget. But they saved a few grand on the estimate while they are on month 3 of living with my mom in her BWM campaign of buying a house she will only live in for half a decade and needed work.
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Aug 24, 2019 21:15
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howdoesishotweb posted:It’s maybe even more frustrating when you’re a doc in the system and they still jerk you around. I was reading this Atlantic article today and, while there isn't any good BWM content, there is this choice line from a doctor about how the hospital charges. quote:Ghaly told me he was a fellow at Columbia at the time. “We are on salary, and they bill for us,” he said. “I have no idea what they bill, or why it was out of network. We’re not involved in it at all. This is an unfortunate part of our health system.” Imagine being a part of this lovely system and mostly being powerless to do anything about it (unless you want to staff up a billing department and reduce patient seeing hours to deal with insurance stuff).
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Aug 30, 2019 18:40
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Kaiser Schnitzel posted:It takes a whole, whole lot of engineers. Finding oil, drilling for oil, dealing with production, building rigs, moving the stuff, refining the stuff. There are lots of smart people who are well compensated for their valuable expertise. A lot of it is also that labor cost is not the major component of cost. Time is one of the biggest variable costs when doing most oil field work (drilling has daily rig rates, completions runs on pump time, working wells over is days of no production) so paying for the best workers is an incredible return on investment. The only time you can kind of squeeze money out of workers is a downturn when jobs are scarce.
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Sep 25, 2019 23:05
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Elephanthead posted:Disney lightsabers are the new horseboat. They don't even use high quality kyber crystals.
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Oct 26, 2019 22:38
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Guinness posted:Re: softbank silliness, how about this slide deck about their 30 year vision. It's really something. I had to start playing the Terminator 2 theme while reading this. The conclusions marketing and business management consultants make by drawing exponential curves on things that have physical limits is amazing. https://www.youtube.com/watch?v=XcNXq5DUZnk
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Nov 7, 2019 05:00
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I work for an oil company with foreign ownership that is mostly divorced from operations. We found out today that they hired a dowser that was flown in to "find" drilling locations in a highly developed field. They moved one location 50 feet. At the depths we drill, the well will likely drift up to 100 feet or so and is surrounded by other producing wells.
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Nov 8, 2019 02:26
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crazypeltast52 posted:Do you want to let them point the drill bit for the horizontal leg? Luckily they are vertical wells because if someone tried that on a horizontal, all we would have is a missing persons report and in 60 years some farmer would find bones in a former mud pit.
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Nov 8, 2019 06:03
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Raldikuk posted:And tbf, it did drain faster....assuming we categorize the combustion as a form of "draining" This is why I will always consider in situ combustion 100% oil recovery. There's no oil left if you burn it all in the ground.
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Dec 13, 2019 03:37
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Sirotan posted:I wonder how common mortgage surveys are. I was preparing to make a sarcastic post about how the survey cost was a mere X% of my recent home purchase, but looking through my closing documents, it appears I didn't pay for one at all. I had to get one because the previous owners didn't have one. I don't think it was that expensive, but I loved that a corner of my house can be razed because it's in the city right of way. As long as they never decided to put sidewalks at the dead end of a 50 year old street, I'll be fine.
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Jan 4, 2020 22:07
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It's definitely bad with money. You can get a plastic skull after Halloween for like $2 and buy a couple fake sapphires with that peel off tape on the back for less. Just fill it with ash if you want to haunt future generations.
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Jan 19, 2020 03:20
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https://twitter.com/elle_hunt/status/1221044225493651456?s=19
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Jan 25, 2020 20:51
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Waiting for the 30%+ drop in oil price to hit my coworkers.
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Mar 9, 2020 03:16
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Oil! posted:Waiting for the 30%+ drop in oil price to hit my coworkers. So many oil companies are hosed. Most loans and bonds are tied to a debt to EBITA ratio, which means if companies don't cut super drastically, the debt can come due and force a bankruptcy or sell off. Monday morning was a day of reckoning for "cut 30-70%" of our budget for many companies because if it costs $20/bbl to produce (operating expenses, office expense, debt servicing, etc), the margin was cut in half overnight. I'm going to keep my ear to the ground because stories coming out of Midland should be prime Truck Equity territory.
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Mar 13, 2020 02:44
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crazypeltast52 posted:Thanks thread for reminding me about local butchers, I assumed my local shop closed but they are doing reduced hours and 1 customer inside at a time, so I may snag something there as the distancing winds on. Enjoy your pig/lamb heads. I recommend asking black metal bands on how best to use them.
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Mar 23, 2020 01:27
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Mr.Radar posted:X-posting from the Doomsday Economics thread: I am cackling behind my 2 foot tall deck of graded Alpha cards.
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Mar 29, 2020 16:49
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Residency Evil posted:"Oh man, 40 plus new posts! This is gonna be good!" And yet, we still fall for it. Every time.
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Apr 11, 2020 01:40
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Guest2553 posted:spoiler alert: it's lower now I know. Oil hit $3 a barrel in parts of west Texas last week. A lot of people are getting forced shut ins from pipeline companies and refineries since they have no where to put the oil or use for it. The positive thing is that it is absolutely killing the small operators and letting the biggest ones with firm contracts buy them out once they go bankrupt.
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Apr 17, 2020 21:46
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Sundae posted:They type that went negative last week is a horrendously awful grade that basically only gets used in asphalt, as I understand it. It's the oil equivalent of buying the leftover salmon spines at the market for $0.39 a pound. Good for one or two verrrry specific uses and absolutely nothing else without killing you. Why no I never accidentally bought salmon spines thinking I was getting a crazy good deal, no no, not even twice! The negative price was for Canadian heavy oil that needs to be steamflooded or mined and usually has a pretty significant deduct from the WTI marker price because of quality and location. Operators are willing to produce these wells at a loss because shutting down would cool off the reservoir and require another round of heating at a high cost. Because global demand has declined 30% in under 6 weeks, these differences are being magnified by local conditions. WTI is priced at Cushing, Oklahoma where there are tons of tanks for storage and pipelines to various refineries. A lot of oil doesn't ever make it there, but goes to a more local refinery that has probably reduced capacity since they can't sell as much gasoline, diesel, jet fuel, etc. If there is no where for it to go, the refiner can pretty much ask for whatever price to try to store it if they have room. The current price of WTI is $18.27 for may delivery with a $3.51 differential from Midland to Cushing. If the transportation and processing costs (cost to get from location to the Midland marker) is $3.00 and you have an inferior grade of crude (Delaware Basin in West Texas is generally light) with a further $3.00 discount, that $18.27 is now $8.76. At this point, any reasonable operating cost ($4-$8/bbl) has wiped out the entire value of the oil. On the reverse side, those costs don't change too much if the price were to hit $50 and then cash flow gets the operator $30/bbl.
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Apr 18, 2020 00:10
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crazypeltast52 posted:In oil chat I would like to thank the poor frackers and commercial real estate owners of the Bakken for showing me what a bear market in commercial real estate looks like earlier in my career and preparing me for this, because weve had a decade where people couldnt gently caress up otherwise and some people have done dumb things as a result. Frac companies are some of the most BWM companies imaginable. Imagine an area where there are enough wells being drilled for 100 frac fleets. 15 companies all built up thinking they could have 20 fleets running. The margins were good and oilfield venture capitalists were drooling over getting that profit. This was an amazing market to work with as a producer because they competed themselves to near zero margin. Now that the bottom fell out, I hope the workers didn't get on the truck equity treadmill.
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Apr 18, 2020 04:50
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Not a Children posted:You're fooling yourself if you think there's not ~$55k in truck equity per capita floating out there When I was an intern in Odessa/Midland in 2007 there was a boat shop in Midland, claiming to be one of the top 5 in sales in the US (I don't doubt it). Here is Google Maps centered around Midland. 
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Apr 18, 2020 05:39
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 Markets aren't even open yet. Edit: I go to sleep and wake up to $11.38. Edit2: $10.01, lowest price since 1973 when Texas last restricted production. Oil! fucked around with this message at 16:26 on Apr 20, 2020 |
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Apr 20, 2020 02:26
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BWM: Holding oil contracts with no ability to take delivery and waiting until the last 2 days to unload them.
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Apr 20, 2020 18:18
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withak posted:Does Rolex really do something about retailers who sell to someone who immediately resells? This is actually a thing with high end cars, but I think they only go after the buyer because to get invited to buy you have to have spent millions in the high depreciation vehicles.
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Apr 25, 2020 00:14
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Krispy Wafer posted:I have no love for Madoff, but he's an interesting edge case in that there are a lot of misconceptions regarding what happened. Everyone heard about the billions lost and the lives destroyed, but not a lot about what happened later. There is one person that financially profited off of Bernie Madoff and has clean hands. Bobby Bonilla
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Apr 30, 2020 13:27
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Krispy Wafer posted:Can someone explain why he suddenly lost 9 million. He was buying contracts at what he thought were a penny a piece, but were actually $-30. Wouldn't that make his costs less? If the price going down encouraged him to buy more then why is the cost going negative costing him more? The funny part is that there was storage capacity at the delivery point, but the people that own and operate it are in the business of moving oil. There should be limits on who can trade commodity futures to prevent this level of stupidity, but  .
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May 10, 2020 18:36
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Inner Light posted:It seems like everyone is missing the point that a futures contract, in essence, trades like stocks. The price can move up or down. Some of them have leverage built-in, where a $1 movement in the underlying commodity price moves the futures contract some multiple of $1. The biggest difference is there is no physical thing when they trade futures on stocks. With oil or any other commodity, you must accept delivery at a certain place at a certain time. Cushing (the market for oil) was filling at about 1 million barrels a day and 3-4 weeks from 'full' at the time, meaning you couldn't take delivery. Oil got so negative because the paper traders wanted to get out (there was another day left to trade) and overwhelmed the physical buyers able to take it store it. Oil prices are entirely dependent on location and where your pipelines tie into. My company got lucky to being locked in a smaller market that needs enough oil to keep running.
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May 10, 2020 23:01
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spaztaz posted:Isn't LegalShield a pyramid scheme, or am I confusing it with something else with a similar name? They offer that one at my work and the only justification the person selling it is "I get a ton of speeding tickets every year." Ok, maybe don't be that reckless while driving?
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Jun 5, 2020 03:43
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I am more amazed that a dead cat can bounce all the way back to the height it fell from.
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Jun 12, 2020 15:46
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Cyrano4747 posted:If youre talking about this mornings bounce its been sinking since and is almost back to yesterdays close. More of referring to what happened since mid-March. Nothing is better, but number goes up.
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Jun 12, 2020 17:17
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lgcty5 posted:Does buying Something Awful count as BWM? Yes
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Jun 26, 2020 02:07
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Here is the video of how they were able to profit from the spam. I think they eventually lost money because the spam schemes changed. https://www.youtube.com/watch?v=ytDamqTjPwg&hd=1
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Jun 28, 2020 20:10
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These derails keep getting exponentially worse. Please log off. Sined, Oil!
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Jul 7, 2020 12:56
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Dik Hz posted:One thing that is counter-intuitive to most folks is that, with very few exceptions, if you walk a mile north, a mile west, a mile south, and a mile east, you aren't in the same spot you started in. That's really fun as you get progressively further from the equator. That's why you look for the monuments. If you started in the southeast corner and went north and west, you might want up legal because that was the direction surveys went. Do not try this in Texas because the surveys where done really poorly and many are at an angle.
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Aug 5, 2020 13:11
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Enos Cabell posted:For fresh BWM content head over to the GPU thread in SH/SC. Lots of goons buying $1500 video cards only because they couldn't handle waiting for stock of the 10% slower $700 card. I need that 200 fps on my 60Hz monitor!
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Sep 25, 2020 15:34
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