I have been off my bikes for most of the winter season. I just did a quick ride to the bank on my BMX about 30 minutes ago and it felt good. I am usually well dressed when I go for a ride but I just put on a sweatshirt, skullcap and went thru the door. Didn't have on my sunglasses, helmet (not a good idea so make sure you wear yours), gloves or cycling shoes. I wasn't lugging my water bottle or a Camelbak. Didn't have my tools, a spare inner tube or patch kit. No computer, GPS or heart monitor. Just me, my bike and the outdoors.
I rode on the boardwalk at Rockaway Beach. As I rode toward it, I hopped a couple of curbs. Pedaling on the boardwalk, I could hear loose boards creaking under my tires and sand crunching as I accelerated. The wind was in my chest so it was giving me some resistance but I pedaled on. The sun was shinning brightly and the seagulls were flying around squawking loudly. I kept my eyes on them as I rode because I know they like pulling sneak attack bomb raids. As I rode faster, my eyes began tearing from the wind (or was it because of the emotional overtaking from being aways so long?). A few of the boardwalkers waved and I waved back. I guess spring is in the air because this isn't typical New York behavior. But I understand. I mean, after being out in the cold and wind for a few hours in single digit temperatures, I probably wouldn't feel like waving much myself.
I went to the bank, made my deposit and jumped back on the bike. Headed back and took an alternate route. Rode along the street in the bike lane. Everything was good and I coasted along just taking everything in. It's amazing how many things you miss in life just from doing your day to day routine. I was observing the construction projects in the area and cruised by the big whale sculpture. I hope the rest of this year's riding days are as exhilarating as this. Looking forward to mountain biking and road biking this year in NY as I am a transplant from Atlanta, GA. Moving up here late in the year did not allow me the time to enjoy what New York has to offer from a cycling perspective. I have signed up for the NY 5 Borough Tour and hope to meet some cool and exciting people there plus have a good experience. Hope to see you there!
Tuesday, March 24, 2009
Saturday, March 21, 2009
The AIG travesty
I know, I know...by now you've heard about the AIG bonuses thing, stimulus packages and bailouts but here is a few things that really piss me off about the whole thing.
1. You have the audacity to want a bonus after doing such a horrible job managing the company and its assets. The last time I checked, a person usually gets fired or demoted to a position with less responsibility and pay.
2. I don't think that those who were receiving or going to receive those bonuses are going to do anything to stimulate the economy. Most would have reinvested it or put it into some kind of tax shelter. If you gave $165,000,000.00 to 100,000 struggling tax payers ($1,650 each) you would actually see something start happening with the economy. I'm not suggesting that $1,650 is a lot of money (especially in NY) to spend but it would offer some relief to taxpayers. It could help someone pay another month of rent or a mortgage. It could feed a family for a month or two. It would definitely be spent on gas (and don't get me started on those guys). It might keep them afloat for a few more weeks until a job offer came through.
3. If AIG didn't receive the stimulus and TARP money, how were they going to pay out the bonuses? According to CEO Ed Liddy, he said if the company didn't receive the funds, the company would have to declare bankruptcy and would not have been able to pay the bonuses so they would have legal trouble from law suits. In my opinion, I feel that the company should have claimed bankruptcy. The obligation for them to pay the bonuses to the execs. was written in the fall of 2007 so I believe they saw this coming and wanted to make sure that no matter what happened that they would still get paid, even for underperforming. They should stick to what they make money on, selling insurance products.
4. The biggest thing about this whole mess is that these banks and financial institutions have received all this money. They have not been lending out money or extending credit (which is how they make money, by charging interest). If and when they do start lending, the terms are probably going to be very stringent for the average taxpaper who because of the current economy, would not have the best credit score or the best payment record on past or present financial obligations. So the bank that performed poorly and got taxpayers money to stay afloat gets to choose IF it wants to lend the same taxpayer money and gets to charge that taxpayer whatever INTEREST RATE it deems fit (which would probably be a rate they could make a hefty profit on). The money they make will be used to pay back the obligations to the government and to make more money, yet the taxpayer doesn't get a stake in the bank, stock or a return on the interest profit. What's wrong with this picture?
1. You have the audacity to want a bonus after doing such a horrible job managing the company and its assets. The last time I checked, a person usually gets fired or demoted to a position with less responsibility and pay.
2. I don't think that those who were receiving or going to receive those bonuses are going to do anything to stimulate the economy. Most would have reinvested it or put it into some kind of tax shelter. If you gave $165,000,000.00 to 100,000 struggling tax payers ($1,650 each) you would actually see something start happening with the economy. I'm not suggesting that $1,650 is a lot of money (especially in NY) to spend but it would offer some relief to taxpayers. It could help someone pay another month of rent or a mortgage. It could feed a family for a month or two. It would definitely be spent on gas (and don't get me started on those guys). It might keep them afloat for a few more weeks until a job offer came through.
3. If AIG didn't receive the stimulus and TARP money, how were they going to pay out the bonuses? According to CEO Ed Liddy, he said if the company didn't receive the funds, the company would have to declare bankruptcy and would not have been able to pay the bonuses so they would have legal trouble from law suits. In my opinion, I feel that the company should have claimed bankruptcy. The obligation for them to pay the bonuses to the execs. was written in the fall of 2007 so I believe they saw this coming and wanted to make sure that no matter what happened that they would still get paid, even for underperforming. They should stick to what they make money on, selling insurance products.
4. The biggest thing about this whole mess is that these banks and financial institutions have received all this money. They have not been lending out money or extending credit (which is how they make money, by charging interest). If and when they do start lending, the terms are probably going to be very stringent for the average taxpaper who because of the current economy, would not have the best credit score or the best payment record on past or present financial obligations. So the bank that performed poorly and got taxpayers money to stay afloat gets to choose IF it wants to lend the same taxpayer money and gets to charge that taxpayer whatever INTEREST RATE it deems fit (which would probably be a rate they could make a hefty profit on). The money they make will be used to pay back the obligations to the government and to make more money, yet the taxpayer doesn't get a stake in the bank, stock or a return on the interest profit. What's wrong with this picture?
Friday, March 20, 2009
My first post.
Just sitting here thinking about ideas and topics for my newly created blog. I am usually one with lots to talk about but I can't seem to come up with anything right now. Maybe I should start with inquiring about what new bloggers talk about...
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