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Old 16-03-2009, 15:30   #211
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This thread has provided me with some of the best reading lately.. I'm still ROFL by that last post from "Sam Plan B" I wonder if this is actually his plan B or has it evolved into plan C ? ;-))

About where the US rich go... same like all the rich: Monaco, Campione, Switzerland, Jersey (not New Jersey) etc. etc. In fact, most are there already.

Where the not-so-rich go: they buy a house in Panama before they even start building it. If you call a broker, they put you on hold while generating a new project!

Where the smart go: to a nice, cheap place that is much less affected by this global collapse, like most of Central and South America.

Cruiser-friends of us just returned (to Colon, Panama) from a couple of weeks visiting family in the US. We went to Panama City for a relaxed 2-day outing, staying over in the Marriott Courtyard. There were NO deals to be had in the hotel, no discount on Mariott card nor a senior rate... the hotel was fully booked so we were lucky to have reservations. While walking through a mall as big as any US mall, they noticed that not a single shop had a sale going on, while just days before in the US, they found deals with up to 70% off in every shop.

We had dinner in a very nice restaurant (The Paladar) with live jazz music and every table taken and nowhere any talk about the economy let alone collapse. What collapse? Ah yes, the revenue from ships passing the canal is down, is that what you mean?

ciao!
Nick.
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Old 16-03-2009, 16:03   #212
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Originally Posted by s/v Jedi View Post
About where the US rich go... same like all the rich: Monaco, Campione, Switzerland, Jersey (not New Jersey) etc. etc. In fact, most are there already.
An Irony of life is that my Plan B involves leaving one of these places.......to no doubt voyage to somewhere someone else dreams of sailing away from......
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Old 16-03-2009, 17:08   #213
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An Irony of life is that my Plan B involves leaving one of these places.......to no doubt voyage to somewhere someone else dreams of sailing away from......
Uh huh...and somewhere there is a guy bored with Heather Locklear too! The grass is always greener...We'll always welcome you here is New Jersey David! We might not be at the top, but we have some pretty damn rich people here too...
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Old 17-03-2009, 13:16   #214
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We could all do a berth swap, couldn't we. A CF berth in every port. Can't imagine anyone would want to use my berth (unless they were Zimbabwian or something).
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Old 18-03-2009, 05:43   #215
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Uh huh...and somewhere there is a guy bored with Heather Locklear too! The grass is always greener...
Including ex-husbands Richie Sambora, Tommy Lee, and ex-boyfriend Tom Cruise, et al.
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Old 18-03-2009, 05:57   #216
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Uh huh...and somewhere there is a guy bored with Heather Locklear too!
That reminds me of a lesson I learned very early in life and I'm trying to teach my sons. "No matter how beautiful a woman is, there is some guy somwhere tired of putting up with her s%&t. The true secret to happiness is finding a woman who's s%&t you don't mind putting up with."

Of course ladies could plug in man instead of woman.
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Old 18-03-2009, 11:48   #217
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Hi Nick,

yes and no. There are some place where you do not realize what is going on in the
world but on others you do.
Just been in Istanbul(Turkey), Berlin (Germany) and Oslo ( Norway) all in the past
4 weeks.
Istanbul = no sales, business as usual
Berlin= sales all over
Oslo= a bit of sale, i think normal for end of winter

It seems to be very different f.e. in Germany was the biggest Mega-Yacht-Order
ever of 6 yachts, 4 of them are lost in the order book.
The biggest boatyard "BAVARIA" and "HANSE" do have serious problems in selling
a boat. Production was standing still in February completly. I do not know how it
is in March.
In Norway the biggest boat builder had problems which are solved now, but how long
if nobody is going to spent money ?

By the way, there's one question i have for a longer time: What means 10 k when
talking about money ? what means this written out ?

Lampe
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Old 18-03-2009, 12:05   #218
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Hi Nick,

yes and no. There are some place where you do not realize what is going on in the
world but on others you do.
Just been in Istanbul(Turkey), Berlin (Germany) and Oslo ( Norway) all in the past
4 weeks.
Istanbul = no sales, business as usual
Berlin= sales all over
Oslo= a bit of sale, i think normal for end of winter

It seems to be very different f.e. in Germany was the biggest Mega-Yacht-Order
ever of 6 yachts, 4 of them are lost in the order book.
The biggest boatyard "BAVARIA" and "HANSE" do have serious problems in selling
a boat. Production was standing still in February completly. I do not know how it
is in March.
In Norway the biggest boat builder had problems which are solved now, but how long
if nobody is going to spent money ?

By the way, there's one question i have for a longer time: What means 10 k when
talking about money ? what means this written out ?

Lampe

$10,000.
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Old 18-03-2009, 13:07   #219
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<snip>

By the way, there's one question i have for a longer time: What means 10 k when talking about money? what means this written out?
As TexSail indicated, the "k" is a shorthand substitute for "thousand," as in "kilo."

However, if you see a reference to 401(k), that does not mean $401,000. Rather, it is a reference to an American pension/savings plan and is "named" for an amendment passed by the 1978 Congress to the Internal Revenue Code - specifically section 401, paragraph (k), which grants employees the option to have a portion of their salaries deferred, tax-free, and placed in their 401(k) account. The theory is that by electing to defer taxation on this income until it is withdrawn, the then-retired employee will be taxed at a lower rate because his/her income will be less than it was in his/her prime earning years.

I recently posted Hallberg-Rassy Downsizing (to wide-spread yawns ), lampe, and I'm wondering how it fits in with what you've experienced in the EU. Do you see the downsizing of Hallberg-Rassy as significant?

TaoJones
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Old 18-03-2009, 20:04   #220
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FWIW, Princess Boats (manufacturers of motor yachts) here in UK, have laid off 450 workers 20% of their work force.

www.thisisplymouth.co.uk/business/JOBS-AXE-FALLS-PRINCESS-YACHTS/article-750088-detail/article.html


I just did a search on boat builder layoffs, and there are pages of them.
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Old 20-03-2009, 02:27   #221
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I believe most industries are hurting all over. Can't think of one sector of the enconomy here in the states that is not affected. I work in heath care, and while the jobs are still there, real salaries have stagnated for the last 10 years or so adjusting for inflation.
As Bill Mahar says, we treat them like hero's and pay them like chumps ! And its true.
I got 12 more years in this rat race then I can retire. But if there is no Social Security then, it will not be sweet. Like many americans, I have put off saving for retirement, and have dipped into my funds when needed. But the upside to that is I did not get hosed in the market colapse. In fact I made a few dollars. But I have used that to fund the getting out of debt thing. And if housing stays flat for the next 10 years I will have trouble as well, as my home was my main source of retirement funds. But why worry about that when anything can happen.


1K= 1 boat buck= 1000 usd= half of what I could buy a short time ago......
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Old 20-03-2009, 03:05   #222
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Quote:
Originally Posted by TaoJones View Post
I recently posted Hallberg-Rassy Downsizing (to wide-spread yawns ), lampe, and I'm wondering how it fits in with what you've experienced in the EU. Do you see the downsizing of Hallberg-Rassy as significant?

TaoJones
AFAIK They have not yet fired anyone, they have notified 98 employees out of 300, that they probably will loose their jobs during 2010. The turnover for Hallberg Rassy in 2009 is calculated to be the largest in the history of the company. Not many orders for 2010 though. I've heard that the larger boats still sell though.
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Old 22-03-2009, 22:13   #223
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The energy sector is still going strong, and while it is not at the $150 per bbl rate, it is still high enough to keep the companies drilling and the vessels that supply them working. There have been some fits and starts, and the occasional hiring freeze, but overall the industry is still very busy
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Old 23-03-2009, 03:10   #224
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As long as 80% of the globe's resources are being consumed by only 20% (richest nations) the global collapse will not stop.
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Old 23-03-2009, 03:56   #225
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Consumption rates

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As long as 80% of the globe's resources are being consumed by only 20% (richest nations) the global collapse will not stop.
I have often heard that ratio quoted and it may well be true, but what isn't added on to that, is those are the same nations that produce 90% of all the products for the rest of the world to use. When the consumer nations change their profile to producers, then you will see this ratio change, and there will be a huge redistribution of wealth, and this little hiccup in our current economy will look like nothing. It is in the multinational corporation's best interest to keep the most of the world's population poor and ignorant, so there is a cheap labor force and no competition for the manufacturing sector.
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