IPO, Marriage, and Protecting Assets
Nothing like having your exit strategy ready.
When I read that Mark Zuckerberg got married the day after his company, Facebook, had it’s Initial Public Offering – my red flags went up. The man is not stupid.
Such is Life in California
There is clear and public evidence what “was his” before the marriage. Even if they did not sign a prenuptial agreement, upon divorce “she” will have exactly what she brought into the marriage – no mutually vested asset in Facebook.
During my marriage counseling, when the subject of Prenuptial Agreements came up, I told our Pastor, Charlie Price: “I’m not getting married to get divorced. I will be THE WIDOW Mrs. Romero..not THE FORMER Mrs. Romero.” Our Pastor laughed, and gave me a fist bump. “I like the way this lady thinks. That’s good…that’s good.” Charlie has a good laugh…it stays with you.
It appears that Mrs. Mark Zuckerberg believes in her husband. I hope he believes in her. At least, she has a career to fall back on.
To be continued…
Video: The Graduate (Final Scene)
The Blown Job Interview
Job interviews are like dates.
Neither of you want to appear needy or eager and you don’t quite know what the other really wants.
Blast from the past
I recently had a job interview with one of the “Big Three” (otherwise known as Bank of America, Chase and Wells Fargo). During the interview I learned that the interviewer had been trained, and was good friends with, people I worked for 14 years ago.
No Bueno
Problem was – I don’t trust them. As I thought about it, and chatted it up as I do when I’m hiding something, I was remembering …When I asked for job training for the next position they told me I was not intelligent enough. Funny, all my life, in 2 different countries and in three states, my signature criticism was “very intelligent girl, working under her potential”
Too Naive for Politics
What really was going on was that the people I was working for were using drugs. My personnel file reflects opinions by people that were doing drugs.
When I learned that, things became crystal clear. I now understood why they whispered so much around me, why they left me alone in the office so much, why their lunch hours were 2 and 3 hours while mine was 1 hour. More importantly, I learned who to hold my loyalty to: The Man That Signs My Checks.
“Where Paris goes, Branches close.”
As time went on, as drama’s played out, rumors began to circulate around me. Years later I learned that the “word” was that I was either the mistress of the owner of the company or his personal spy. People were afraid of me. In actuality, I had developed an honest relationship with the owner, we were going through a recession…every time we closed a branch, I got laid off. I’d call the owner and ask him to send me to a new branch.
Anti-Recycling Program
I don’t recycle. By that, I mean I don’t recycle boyfriends, neighborhoods, or employers. If I left them, I left them for good reason.
Did I really want to work with these people again? Did I want those old, drug laced perceptions following me? Did I want to see their names or talk to them again? No. Not a chance. I’ve worked damn hard …which I made clear during the interview.
Not politically correct.
Dad would remind me that not following the crowd is usually a quiet place.
RESPECT
Today I received a rejection, by corporate, via email. The branch manager said he would call me on Wednesday…guess he chickened out. Oddly enough, this is the branch which my husband got our home loan. I called our loan officer and expressed my disappointment in his manager. I lost respect for his manager when he didn’t keep his word.
I gave respect, I presented myself in it’s raw honesty. Guess I won’t be taking our refinance there…can’t trust the word of the branch manager. What a shame.
Don’t Look Back
By the way – comparing where they are to where I’ve been: I’ve created a good reputation, worked my way up the ladder by aligning myself with ethical people (as much as possible), have the respect of many in my industry. Them? They are still holding the exact same positions they had 15 years ago.
I’d rather grow.
One more attempt to explain Economics
SOCIALISM
You give one to your neighbour.COMMUNISM
You have 2 cows.
The State takes both and gives you some milk.FASCISM
You have 2 cows.
The State takes both and sells you some milk.NAZISM
You have 2 cows.
The State takes both and shoots you.
BUREAUCRATISM
You have 2 cows.
The State takes both, shoots one, milks the other, and then throws the milk away.
You have two cows.
You sell one and buy a bull.
Your herd multiplies, and the economy grows.
You sell them and retire on the income.REAL CAPITALISM
You have two cows.
You borrow from a bank to build a milking shed.
The contractor installs the milking machine upside-down and cannot get it to work.
The bank forecloses on the loan and takes your cows.
AN AMERICAN CORPORATION
You have two cows.
You sell one, and force the other to produce the milk of four cows.
Later, you hire a consultant to analyse why the cow has dropped dead.
ROYAL BANK OF SCOTLAND VENTURE CAPITALISM
You have two cows.
You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five cows. The milk rights of the six cows are transferred via an intermediary to a Cayman Island Company secretly owned by the majority shareholder who sells the rights to all seven cows back to your listed company.
No balance sheet provided with the release.
The public then buys your bull.
You have two cows.
You go on strike, organize a riot, and block the roads, because you want three cows.
You have two cows.
You redesign them so they are one-tenth the size of an ordinary cow and produce twenty times the milk.
You then create a clever cow cartoon image called ‘Cowkimon’ and market it worldwide.
You have two cows.
You re-engineer them so they live for 100 years, eat once a month, and milk themselves.
You have two cows, but you don’t know where they are.
You decide to have lunch.A RUSSIAN CORPORATION
You have two cows.
You count them and learn you have five cows.
You count them again and learn you have 42 cows.
You count them again and learn you have 2 cows.
You stop counting cows and open another bottle of vodka.A SWISS CORPORATION
You have 5000 cows. None of them belong to you.
You charge the owners for storing them.A CHINESE CORPORATION
You have two cows.
You have 300 people milking them.
You claim that you have full employment, and high bovine productivity..
You arrest the newsman who reported the real situation.
AN INDIAN CORPORATION
You have two cows.
You worship them.
California issues Unemployment Debit Cards
California Gold
Debit/Credit cards have finally caught up to the California Unemployed. This month, Unemployment recipients will be receiving Visa Debit cards, courtesy of a contract with Bank Of America (BOA).
Not your normal card
The card can be used as a regular credit / debit card in most instances. A quick call to Bank of America confirmed some questions I had.
Bank of America tellers will not have access to your balance information. You have to track that yourself. To obtain your balance, visit a BOA ATM.
Inconvenient ways to obtain your money
Bank of America will not charge you a fee for withdraws made at their location. If you withdraw your money from another bank, BOA will charge a fee if you make more than two withdrawals “per each benefit deposit”. Bank of America will not charge you a fee if you withdraw funds in their branch, I mention this because typically BOA charges $5.00 per check cashed on their bank, if you do not have an account with them.
WARNING! WARNING!
You may set up “Direct Deposit” into your preferred checking or savings account. It will take 48 business hours for this to become effective; you may want to withdraw some funds before you establish this – just in case your funds are not available during a transition. NOTE: It is not a “true” direct deposit. EDD and BOA are using this term loosely. It is actually a wire transfer. No fees are charged or incurred for this wire transfer.
Sidebar: The EDD video states you “might” have to wait 2 business days if your transfer is scheduled over a weekend. Verbal with BOA: there will be a 48 hour delay per transfer.
My Interest, My Money
Now if you think the way I do, you will be counting how much money BOA will be earning in interest by withholding my money for 48 hours. “But the wire transfer costs them money!” Uh-huh – that’s been calculated into the contract. “There is ALWAYS interest.”
Danger Will Robinson! Danger!
KEEP THE CARD FOR THREE YEARS. If, within the next three years, you receive state disability, paid family leave or if you receive unemployment income, it will be paid to the same account.
Here’s a little video to help you get excited about your government mandated money access card:
Today’s music video: California Love by Tupac.
