I used to ask my Father who grew up in NJ (born in south Amboy) about why he stayed in WA. It was always a short conversation. He said there are things in life you will never share with people and where his neighborhood was located is one touchy subject. Said he would never show me and to drop the conversation in that unique NJ way. Said to me “I’ve been all over the world (Navy) and WA is one of the the most beautiful places on the planet. That’s all you need to know about why I located here.”

At least you have followed your own preaching and have no mortgage to stress you out and are fully mobile to
look for other jobs anywhere and also adapt your costs to your income/situation. Good luck!

“Microsoft has become much more bureaucratic and process oriented over the years”

I’ve thought this and had people tell me this for years now. Two of the people I work with are Microsoft retirees who just didn’t like it there. It’s one of the things that has formed my opinion that Microsoft will move into developing countries.

Egypt, India, Chna, Spain, Argentina, and the list goes on, all want to develop software that will be useful in broader market places. In my opinion for what Microsoft spends here they could dominate any market place with local talent.

You were let go because no matter how “right” you are, if you don’t approach your work environment with some class, it doesn’t go over well

You are absolutely right. Being right isn’t all it’s cracked up to be… You have to “influence” others too. I can certainly work on getting better on the influence part. That said, I know that I am much more succesful at having influence in some environments than others. Like I said earlier, Microsoft has changed quite a bit over the years, and it is much less amenable to listening to ideas (that don’t evolve through official channels, and such) than it once was.

Of course, some jobs are much less prone to this kind of problem. In the last couple years I was doing market research, and the definition of “good” work is highly subjective, and largely due to how well it meshes with the views of the organizations you work with. Doing programming work, by contrast, is at least a little more quantifiable and less political (not entirely, but at least a little less subjective).

Sad to hear all of this. Back in the 90’s MSFT was a really fun place to work at! I was actually proud to have been hired by MSFT right after college. I was flown in from NJ. I did not even know that WA was such a beautiful place. In NJ – the Garden State – you kind of get used to the fact that the world is a very industrial place and not very clean. I am not saying that NJ is a bad place – it has great city life etc but just WA state seemed to me to be an upgrade. So WA state was a blessing to me at that time….. Obviously folks who have always lived in WA state probably percieve this world as a very clean place with ocean, mountains, trails, water falls and Mount Rainier…..

Singlet – I am 100% sure that with MSFT experience though – you will get a job offer. If you cannot get it – then who can?

Can you tell me if they are laying off mostly contractors or FTEs? Back in 2002 I remember they were trying to convert contractors to full time employees because of some lawsuits. So I am not sure if they still use lots of contractors or not.

Are normal people at MSFT starting to get scared about their jobs?

Can you let me know if MSFT is firing people all over the place?

They have definitely been firing a lot more people this year (which is not the same thing as a “lay-off”, when you get severance) than I’ve ever seen in my 8 years at the firm. My own boss has fired 3 of his six employees this year (including me). I also know of quite a few other people who are under-going the same kind of stress as I went through as their managers go through the process of creating documentation to justify termination.

I have a friend who is a manager in a completely different division who told me that he was asked to reduce his staff by a certain number of people, and then had to go through the process of “proving” why certain employees should be fired (i.e. which means they don’t get any severance, etc), even though he felt they were actually doing good jobs. I really can’t say if this is the kind of mandate that had been given to my own boss since it’s difficult to take everything my manager said at 100% face value since he is obligated to try and protect the company from liability.

In actually I agree that I no longer fit well into the Windows organization where I worked. I am a scrapper, always looking for whatever unconventional way I can find to do things. By contrast, Microsoft has become much more bureaucratic and process oriented over the years, and my work-style grated on number of people (particularly senior managers). My unwillingness to play political games also contributed to my departure. I did a lot of research which not only didn’t fit the pre-conceptions that was prevalent in some groups, but I also was pretty blunt in my presentations and recommendations which was threatening in particular places.

I am the kind of guy who is always pointing out the elephant in the room, which isn’t necessarily always appreciated. The same traits that made me a good journalist in a past life, became liabilities for me at Microsoft in recent years. Which is not to say I don’t have my fans there. Over 200 people joined my recession study group, and there are a lot of individuals who really appreciated my work. I’ve had over 100 people write me very kind notes since I left, which is very gratifying. In fact, I’ve been getting people at Microsoft who I don’t know from a hole in the ground, writing me indicating that they need mavericks like me, and wonder if I would be interested in discussing roles in their groups.

It’s ironic that I had to get fired to find out there are people in the company who would like to have me work for them.

In any event, this is actually an opportunity to find a job in a more entrepreneurial organization where I can thrive.

Sniglet,
I’ve been there too.
I can almost guarantee that a couple of years down the road you will be a lot happier, and that you’ll find an employer that encourages and welcomes scrappiness and non conformity. .

Of if not, he can always become a real estate agent! ;-)

Are they laying off contractors or FTEs?

All the best to you. I am sure that with MSFT experience you will do well in life even in this economy.

Krugman is again saying the original stimulus was too small. Maybe, but given the glacial speed of these things I’m not sure we’ll know that for at least a year.

Also, on the economy, I’ve noticed banks taking heat from the press on not accepting California’s warrants. Like they’re supposed to take illiquid crap because the government bailed them out. That would sort of defeat the purpose of the bailout. Just like the California energy crisis, the solution to the problem is in the legislature and governor’s camps. It’s hard to imagine a more dysfunctional government than that of California.

You can see a more detailed view of my thoughts now that I have left at my blog.

http://surkanstance.blogspot.com/2009/07/big-event.html

At least this unshackles me from commenting on things happening in the tech industry (and with Microsoft)!

ASSUMING SEATTLE BANK IS FEDERAL HOME LOAN BANK SEATTLE

Goodness gracious, we’ve hit approximate zero on savings interest, how can we lower mortgage interest anymore without negative savings interest?

See their savings rates [the good news, they're horrifyingly low; the bank apparently isn't desparate for depositors]:

http://www.fhlbsea.com/Rates/Default.aspx

IN THIS CASE, LACK OF SPENDING…LOL

KIND OF HARD FOR BOEING TO RALLY THIS YEAR WITH 65 A/Ps SOLD AND 64 A/Ps CANCELLED

I just heard this on the KIRO morning news today. Couple this news with the 787 fiasco and the stock nose dive.

Its similar to Detroit taking a 98% drop in sales for 2009, which they didn’t of course.

I hear Google is coming out with a new O/S to compete with M/S…..if the new M/S product is as bad as VISTA, I’m waiting to possibly buy Google’s O/S, especially if it passes the first year tests better than the Windows.

FROM YOUR PERSPECTIVE ITS PROBABLY GOOD NEWS THE $787B STIMULUS IS APPARENTLY ONLY 5% SPENT

And Obama is nixing any follow-on stimulus, to let the first stimulus kick in…..i.e., maybe/perhaps ever get spent, in clear language.

This is wonderful news for mortgage rates as follows:

“…To mortgage markets, printing cash would be a strong kick in the gut. Monetary inflation is as insidious as commodity-fueled inflation and — in any form — inflation is terrible for mortgage rates…”

The rest of the URL:

http://themortgagereports.com/

ACTUALLY JAPAN’S RECENT CAR SALES TO AMERICA HAVE HORRIFYINGLY DROPPED 71%

Ford out sold Toyota recently and Ford is now #1 in America, see the proof:

http://www.autoblog.com/2009/05/01/ford-sells-more-cars-in-april-than-toyota/

I’d add this too….with Japan’s recent automotive manufacturing demise, that Obama guarentee of the GM and Chrysler warranties probably makes American cars far less risky purchases in the future too, than the down-trodden Japanese cars on the brink of bankruptcy…LOL

/sarcasm

http://www.raincityguide.com/2009/07/10/rates-for-friday-morning/

The last interview I heard the CEO do sounded like business as usual and judging from bank performance they also are just going to lumber along while every one else pays the price.

I’m thinking more that Americans should be in business rather than looking for jobs. Once the plan is laid out people can be trained to do it. We have thousands of moth balled plants in the United States that could be something, but it’s cheaper to set things up in other countries.

If Americans could turn out high quality products I think there would be a market for them. The question is the price.

From what I have heard the United states government will own 70% of General Motors. That would put them in the same category as a European plant.

There was a discussion about Mercedes and BMWs here on the Bubble. Geez, Germany has to be one of the most government giving countries on earth next to Japan. Does any one other than me wonder how two countries that were conquered in World War II became top car manufacturers? I think it’s focus from military to automobiles.

I agree that government controlled industry is contrary to the American Way. What I’m thinking is if some of the business minds who have been chasing phantom profits will turn their attention to manufacturing.

What this has to do with Real Estate is that most plants I’ve looked at are for redevelopment. Now that the price of Real Estate is tanking some of those plants are going to start looking at generating dollars again. Low business volume was great with the promise of a Real Estate sale wind fall, but that is now a distant possibility.

The media would have to cooperate.

The govt could start buying things to jack up the demand and then people would start buying because they would fear to be priced out. The govt could do a covert job.

And in order to get unployment down the govt could revise yet again how it counts unemployed people. And for strategic companies like GM or Boeing – the govt would start buying things and this would keep the ball rolling. The key is to do a covert operation and have media cooperate somehow.

RE: Acerun @ 10

Howdy. I am new here so pardon me if I say something ill-informed. I always assumed that after a short sale the borrower would still owe the difference from the mortgage balance/sale price. Is that not the case? Wouldn’t that be straight up debt forgiveness? Unbelievable.

In a lot of cases yes, the borrower waives the white flag, and the the bank weighs its options, and if they see it will be cheaper to short a house and forgive the difference they may.

“Seattle Bank said Friday it has agreed with state and federal regulators to reduce its problem loans and raise its capital ratios.

In an interview, President and CEO Ellen Sas said that “we can actually get our ratios in order” by shrinking the bank’s lending portfolio and resolving problem loans. But Seattle Bank is also exploring ways to raise new capital, looking at amounts from “zero to $30 million … which would allow us to grow,” she said.

The agreement with the Federal Deposit Insurance Corp. (FDIC) and the state Department of Financial Institutions calls for the bank to reach a 10 percent Tier 1 capital ratio and 12 percent risk-based capital ratio, she said.

As of March 31, the bank’s actual ratios were 7.72 percent and 11.85 percent, respectively.

The bank’s parent company, Seattle Financial Group, signed a similar agreement with its regulator, the Office of Thrift Supervision.

Seattle Bank ranked among the most seriously troubled in each of three stress measures examined in a May 31 Seattle Times analysis of first-quarter results from 53 Washington banks.

The bank’s problem loans came mainly from its heavy focus on residential construction and development, which accounted for more than half its business as of spring 2008. Seattle Bank stopped lending to residential and commercial real estate developers last year, Sas said Friday…”

http://seattletimes.nwsource.com/html/businesstechnology/2009450049_seattlebank11.html

From what I’ve read, every short sale contract can be different, my advice is have your attorney explain it to you before you sign, some still stick you with a loan principle and payments, but you sold your house….

I’m curious how the Neiman-Marcus/JimmyChoo/Louis Vuitton mall is going to do when it opens in Bellevue in Sept. Seems really badly timed.

Probably not as bad as a Nordstrom opening. They type of clientele that frequents these stores, still has a ton of money.

Howdy. I am new here so pardon me if I say something ill-informed. I always assumed that after a short sale the borrower would still owe the difference from the mortgage balance/sale price. Is that not the case? Wouldn’t that be straight up debt forgiveness? Unbelievable.

Lenders wanting to collect deficiency judgments is nothing new. This is why I have warned people who read blogs to get an attorney to explain their options. I have very good files on good people who had hardships, or were out and out swindled, where the lender wants to play hard ball.

I have one file from last year where Chase actually sent the short seller a letter thanking them for their responsible approach and a waiver of deficiency. They started the process with an attorney before contacting me.

The past six months I have been talking about banks asking for financial statements as a way, in my opinion, to find where any money or assets may be. I see a rise in garnishments the way things are going.

It’s also my opinion that the short sale process is dead and that foreclosure may give the home borrower more distance from the lender.

LOL TIM

I saw a news article about a month ago on the fact that the homeless tent cities in Florida now have unemployed technicals from Michigan living there. The food banks are getting more and more displaced middle class too, all over the country…

If I was desparate in Michigan, I’d move to Florida too, to be homeless…..can you imagine winters without heat in Michigan?

I hear Walmart and Dollar Store stocks are the only ones still flat tabling lately [not plummetting down in value]….the ritzy stores are moving out of closed down malls too, all over America lately.

Is there more Cash Advance outlets than McDonalds and Starbucks lately? LOL

NOW THAT IS FUNNY!

Who wears short shorts?

This is sort of awesome.

This second picture is priceless.

Who would want to eat lunch with me?

Maybe Ardell?

http://www.youtube.com/watch?v=Pt2vLKKn_eQ&feature=channel

The last time I had lunch with my Buyers or Sellers was………………………………………………..NEVER!!

Who would want to eat lunch with me? Except Ira. Looks like I will owe him a lunch at Claim Jumper. Hurry up Tim. Buy something already! I have 6 months left on my bet!

That Grocery Outlet (I call it the “Used Food Store” in a joke that no one laughs at) is pretty close to some tony neighborhoods. You don’t have to head too far east to hit Denny-Blaine, Madrona and Madison Park, and it’s located between those neighborhoods and downtown Seattle, where I’d imagine a lot of those people work. That store also has a semi-ritzy farmers’ market in its parking lot on Fridays, so it may be more upscale than your average outlet.

I stopped at the Grocery Outlet @ Martin Luther King and East Union in the Central District a few weeks back. and I too was kind of startled. A couple of nicely dressed gentlemen were hotly debating the merits of one Cabernet Sauvignon over another. It wouldn’t have been more than a couple of years ago that the debate would have been which fortified wine got you snockered faster, the Thunderbird or the Mad Dog 20-20.

So is it that young professionals are pinching their pennies when grocery shopping, or young professionals are pinching pennies when deciding where to live, and now reside in areas that have Grocery Outlets?

On another subject, on my daily lunch hour run I passed through bridle trails in Kirkland yesterday when I was stopped by a well dressed man that looked like he was in his late 20s asking for directions to a food shelter. First time that happens and kind of surrealistic around the multi million dollar homes. A sign of the times?

On a related note, my wife and I have regularly shopped at the Grocery Outlet in Kenmore since it opened a few years ago. Ordinarily there’s a certain, shall we say, “class” of people we tend to see shopping there. Apparently saving money on food is below certain people.

However, we were in there yesterday and I noticed a distinct shift in the vibe, with respect to the other shoppers. There were a lot more people I would categorize as “young professionals,” including a well-dressed guy yapping away on his bluetooth headset. Rarely saw those type of people shopping at Grocery Outlet in the past.

I saw this article on MSN this morning: link

Quite interesting and a change of tone from what we see in the media every day. I like the piece below in particular, which has been discussed here a lot before:

“What’s worse is that according to new research, the likelihood of a borrower making a “strategic” decision to default — in effect, mailing the keys back to the bank and walking away — increase greatly depending on how deeply underwater they are and whether people they know have done the same. This means there is a very real possibility that home prices declines reaccelerate as hope is lost and it becomes socially acceptable to give up on your mortgage.”

“As the curiosity about Real Estate fades what will be the next dot com, or house flipping ventures?”

Commodities has been bubbling on and off since the stock market and housing market dived. I’m not sure if the man on the street actively participated yet so perhaps it could be an area that will attract the crowds? Nothing will be as lethal as the housing bubble though since it was leveraged with borrowed money. It’s hard to if not impossible for a person to get that kind of financing for other “investments”.

On another subject, on my daily lunch hour run I passed through bridle trails in Kirkland yesterday when I was stopped by a well dressed man that looked like he was in his late 20s asking for directions to a food shelter. First time that happens and kind of surrealistic around the multi million dollar homes. A sign of the times?