Lets see. The current secretary of the treasury is a former CEO of Goldman Sachs. Therefore it makes perfect sense that he wait to announce the all time biggest public bailout of an industry until after one of Goldman's rivals declares bankruptcy. Yep, perfect sense. Lets disrupt the lives of 25,000 people so they can have their lives thrown into uncertainty. Next, lets go ahead and bailout every other bad betting financial firm in this current credit crisis but totally ignore the disruption that you caused for those employed in some form or fashion by Lehman Brothers.
What happened to free markets in this country? And if you are going to bailout this industry, why do pick and choose who lives or dies? Lets save Bear Stearns, AIG, Fannie Mae, but leave Lehman to die on the vine. I would really like to know the rational behind this. Somehow I think Secretary Paulson's buddies at Goldman had it out for Lehman. This is his way of hooking them up. Preciate cha Mr. Secretary!
Monday, September 22, 2008
re: Week 4 picks
Alright, went 2 for 3 on the weekend. Tech and Texas did as I expected while the aggies had a little difficulty.
Season 4-6 (.400)w
Season 4-6 (.400)w
Saturday, September 20, 2008
Week 4 Picks
John Baucum has the preview of the UMASS game.
UMASS +56 at Texas Tech
I think with the new clock rules and several starters out of this game that Tech will not cover the spread against UMASS. There are 2 weeks to get ready for the start of Big 12 play, so a lot of players will get some rest this week. Leach may play Harrell and Crabtree a lot as he is not happy with the QBs and WRs so far this season. I will take UMASS to cover 56-10.
Miami -3 at Texas A&M
A&M still doesn't know who will start at QB for them this week. They should be smart and start Jerrod Johnson as he is their future. This should be a boring game as both teams are not good offensively. I do think A&M will win straight up 13-10.
Rice +29.5 at Texas
Texas should have no trouble this week against Rice. So far the only team I seem to pick well this season so far. Texas 50-17.
Season 2-5 (.286)
UMASS +56 at Texas Tech
I think with the new clock rules and several starters out of this game that Tech will not cover the spread against UMASS. There are 2 weeks to get ready for the start of Big 12 play, so a lot of players will get some rest this week. Leach may play Harrell and Crabtree a lot as he is not happy with the QBs and WRs so far this season. I will take UMASS to cover 56-10.
Miami -3 at Texas A&M
A&M still doesn't know who will start at QB for them this week. They should be smart and start Jerrod Johnson as he is their future. This should be a boring game as both teams are not good offensively. I do think A&M will win straight up 13-10.
Rice +29.5 at Texas
Texas should have no trouble this week against Rice. So far the only team I seem to pick well this season so far. Texas 50-17.
Season 2-5 (.286)
Wednesday, September 10, 2008
Week 3 picks
I am going out on a limb and saying that Texas Tech is the only team playing this weekend:
SMU +38 at Tech
June Jones was an excellent hire for the Mustangs and eventually he will do great things for the program. He is biting the bullet and going with a true freshman starting at QB this year over 2 year starter Justin Willis. Long term this will really pay off for him.
Graham Harrell has had 2 sub-par games so far. Michael Crabtree had a great game against Nevada highlighted by an 82 yard catch and run for a touchdown. They will hook up a lot as Tech will cover the spread 65-21.
Season 2-4 (.333)
SMU +38 at Tech
June Jones was an excellent hire for the Mustangs and eventually he will do great things for the program. He is biting the bullet and going with a true freshman starting at QB this year over 2 year starter Justin Willis. Long term this will really pay off for him.
Graham Harrell has had 2 sub-par games so far. Michael Crabtree had a great game against Nevada highlighted by an 82 yard catch and run for a touchdown. They will hook up a lot as Tech will cover the spread 65-21.
Season 2-4 (.333)
re: week 2 picks
Wow, I am on a roll. Texas covering was my only correct pick this week.
1-2 for the week
2-4 for the season.
1-2 for the week
2-4 for the season.
Saturday, September 6, 2008
Thursday, September 4, 2008
Week 2 Picks
Texas Tech -10.5 at Nevada
This game scares me, especially after the way we played last weekend. We have always struggled on the road and also struggled stopping the run. Nevada had a really good offensive game last week although it was against Grambling, but their Pistol offense puts up a lot of yards (ranked #4 in NCAA after week 1)
Offensive and Defensive lines need to play a lot better. Tech wins a close one 38-33, so I will take Nevada to cover.
Texas A&M -3 at New Mexico
New Mexico is always a pesky opponent for a Big 12 team. A&M is not a mentally tough team and what little mental strength they had probably left on the plane with Arkansas State last weekend. Mike Sherman was not a good hire for A&M and I have been saying this since I heard about it last November. Too bad for the Aggies this game is on national TV as well.
This game will really make Aggies regret they hired him. New Mexico 21-19
Texas -26.5 at UTEP
The only reason this spread is not 40 is UTEP will really want to try their hardest to make the boys from Austin remember that El Paso has a school in their system. Texas appeared to be pretty sharp last week while UTEP lost to Buffalo. Yes, Buffalo, probably the worst team in FBS since they moved up to that level.
Texas covers 55-10 against the Miners.
Season ATS: 1-2
This game scares me, especially after the way we played last weekend. We have always struggled on the road and also struggled stopping the run. Nevada had a really good offensive game last week although it was against Grambling, but their Pistol offense puts up a lot of yards (ranked #4 in NCAA after week 1)
Offensive and Defensive lines need to play a lot better. Tech wins a close one 38-33, so I will take Nevada to cover.
Texas A&M -3 at New Mexico
New Mexico is always a pesky opponent for a Big 12 team. A&M is not a mentally tough team and what little mental strength they had probably left on the plane with Arkansas State last weekend. Mike Sherman was not a good hire for A&M and I have been saying this since I heard about it last November. Too bad for the Aggies this game is on national TV as well.
This game will really make Aggies regret they hired him. New Mexico 21-19
Texas -26.5 at UTEP
The only reason this spread is not 40 is UTEP will really want to try their hardest to make the boys from Austin remember that El Paso has a school in their system. Texas appeared to be pretty sharp last week while UTEP lost to Buffalo. Yes, Buffalo, probably the worst team in FBS since they moved up to that level.
Texas covers 55-10 against the Miners.
Season ATS: 1-2
Basketball early in the morning
Friend of mine, Josh invited me to play basketball a two weeks ago on Monday's and Wednesday's at 6am. We play at First Baptist Garland which is not far from where I catch the train on the way to work every morning. They have a really nice gym and activity center in downtown Garland by the way.
I only have to get up about 10 minutes earlier than I used to in order to make it there in time so losing sleep is not an issue. I have also wanted to start going to my gym, 24 Hr Fitness downtown, in the morning instead of at lunch due to my crazy job not always being predictable. Now I am trying to lift weights Tuesdays and Thursdays at 6 and play basketball Mondays and Wednesdays at 6. After about an hour of playing, I catch the train and then walk to 24 Hr and shower and get dressed for work. Luckily, the 24 and my office are both at the St. Paul Station downtown.
I used to play basketball all the time 1st grade through college but its been about 3 years since I have played and since I graduated I haven't played at all on a regular basis. It was definitely an adjustment out there. I did not play well at all the first time I played and I was really struggling with my conditioning. I did not make a shot from the outside, but I had a couple of nice drives to the basket. The next time I played it really started coming back. I was making a few shots from the outside, taking it inside, making steals, and making some pretty good passes if I do say so myself. I am glad Josh invited me to start playing, because I really missed playing on a regular basis. Hopefully, I can keep it up.
I only have to get up about 10 minutes earlier than I used to in order to make it there in time so losing sleep is not an issue. I have also wanted to start going to my gym, 24 Hr Fitness downtown, in the morning instead of at lunch due to my crazy job not always being predictable. Now I am trying to lift weights Tuesdays and Thursdays at 6 and play basketball Mondays and Wednesdays at 6. After about an hour of playing, I catch the train and then walk to 24 Hr and shower and get dressed for work. Luckily, the 24 and my office are both at the St. Paul Station downtown.
I used to play basketball all the time 1st grade through college but its been about 3 years since I have played and since I graduated I haven't played at all on a regular basis. It was definitely an adjustment out there. I did not play well at all the first time I played and I was really struggling with my conditioning. I did not make a shot from the outside, but I had a couple of nice drives to the basket. The next time I played it really started coming back. I was making a few shots from the outside, taking it inside, making steals, and making some pretty good passes if I do say so myself. I am glad Josh invited me to start playing, because I really missed playing on a regular basis. Hopefully, I can keep it up.
Monday, September 1, 2008
Sunday, August 31, 2008
Results of Week 1 Picks
1 for 3 only getting Texas right.
Aggies lose straight up and Tech doesn't get close to covering...
Aggies lose straight up and Tech doesn't get close to covering...
Friday, August 29, 2008
Eastern Washington Preview and game picks
Tip of the cap to Mr. John Baucum.
Each week this season I will pick against the spread for Tech, A&M, and Texas.
Spread: Tech -35 at home against Eastern Washington
My prediction:
Tech 62
EWU 7
Texas A&M -19.5 at home against Arkansas State
My prediction:
A&M 24
Arkansas State 10
Texas -24 at home against Florida Atlantic
My Prediction:
Texas 50
FAU 17
Each week this season I will pick against the spread for Tech, A&M, and Texas.
Spread: Tech -35 at home against Eastern Washington
My prediction:
Tech 62
EWU 7
Texas A&M -19.5 at home against Arkansas State
My prediction:
A&M 24
Arkansas State 10
Texas -24 at home against Florida Atlantic
My Prediction:
Texas 50
FAU 17
Wednesday, August 27, 2008
Westin's first baseball game
I am a little late posting this, but on August 16th I took Westin to his first Major League game. The Texas Rangers against the Tampa Bay Rays. Final score was 3-0, but I think I came out the winner. I remember my dad and Uncle John taking me to my first baseball game and it made me a Houston Astros fan for life. I just remember my dad chanting Jooooosssssseeeeee Cruuuuuuuuuzzzzz every time he came up to bat. Another time I went to an Astros game, Glenn Davis hit a home run 6 seats from me. Needless to say, Astro fan for life.
Anyway, Westin and I lucked out in that practically the only day in August under 90 degrees we got to go to the game. Westin had to have cotton candy and peanuts so that was good. We sat behind home plate on the highest deck. Not too bad of seats. Westin had a ton of questions about the game and everything that was going on. I kept asking him if he wanted to go, but he said is it over? I told him no and then he said he wanted to stay until its over. His favorite part was the bus ride from the car to the stadium and then back. Oh, and he loves Josh Hamilton too.
Anyway, Westin and I lucked out in that practically the only day in August under 90 degrees we got to go to the game. Westin had to have cotton candy and peanuts so that was good. We sat behind home plate on the highest deck. Not too bad of seats. Westin had a ton of questions about the game and everything that was going on. I kept asking him if he wanted to go, but he said is it over? I told him no and then he said he wanted to stay until its over. His favorite part was the bus ride from the car to the stadium and then back. Oh, and he loves Josh Hamilton too.
Tuesday, August 26, 2008
Presidential...Race?
Came across a good article today in the Wall Street Journal. I must confess as a person who always has voted primarily republican in the past, I did vote in the Democratic primary this past spring and I am intrigued by Barack Obama. I am not a big fan of John McCain either, so I am basically still undecided at this point before the November election. Throughout this whole process I could see things like this coming:
I hate racism and I hate the fact that even more that people think racism does not know color. Racism works every which way you can think. Look up the definition in the dictionary. I don't see a color listed.
Part of what makes this country great is the opportunity to disagree with your fellow citizen. I fear the repercussions if people will not be able to disagree with a President Obama.
By saying if Obama drops in the polls, Americans are racist is dumb. What if Obama wins? Does every white person in America have to agree with every decision he makes lest the be called a racist? I for see some bad times ahead if that turns out to be true.
"Call me crazy, but isn't it possible, just possible, that Obama's lead is being inhibited by the fact that he is, you know, black?" wrote John Heilemann in New York magazine earlier this month. "What makes Obama's task of scoring white votes at Kerry-Gore levels so formidable is, to put it bluntly, racial prejudice."
I hate racism and I hate the fact that even more that people think racism does not know color. Racism works every which way you can think. Look up the definition in the dictionary. I don't see a color listed.
Part of what makes this country great is the opportunity to disagree with your fellow citizen. I fear the repercussions if people will not be able to disagree with a President Obama.
College Football is almost here
Good article I came across today on RedRaiderSports.com by Joe Yeager. Pretty much sums up how I feel about the coming season:
For a great many Americans, this is the best time of the year. True, most of us love Thanksgiving, and some of us persevere through the hurly and the burly of December with our love of Christmas intact. And the young and the superhuman may even revel in the coming of the New Year.
But for raw anticipation and a sense of child-like giddiness, many of us find it is impossible to beat the onset of college football season. It brings about the same sensations we experienced as pre-teens toward Christmas. Christmas for full-grown men (well mostly full-grown, and mostly men), that is the ticket.
Why does the approach of college football quicken the pulse, enliven the senses, and stake a claim to the sinew of our soul like no other phenomenon? I think nostalgia, tradition, and memory are the kernel of it all. And for that reason, the passion for college football probably grows keener, if also more mellow in a sense, the older one gets.
College football, perhaps like no other institution in American society, is steeped in lore, tradition and history. From the first college football game, an immediately post-bellum contest between Princeton and Rutgers, to the present day, college football has cultivated its legends and kept alive its ghosts.
The names are legion and they evoke reverence from the initiates of the college football experience. Rockne, Red Grange, Glen Davis and Doc Blanchard, Parseghian, Bear Bryant, Ernie Davis, Staubach, Herschel Walker, Sammy Baugh, Doak Walker, Hayes and Schembechler. The ledger of the immortals is well nigh endless. Actually, it is endless because new names are added with each passing season.
And embedded within this pantheon are myriad smaller constellations of great ones who cohere around individual colleges and universities. For this reason, college football is not just vast and overawing, it is intimate and personal.
Each of us as, college football parishioners, know well the names of the luminaries who have flashed across our local gridiron. As Red Raiders, we can recite the names without effort. E.J. "Double Tough" Holub. Donny "The Golden Palomino" Anderson. Dave Parks. Gabriel "Senor Sack" Rivera. Zach Thomas. And Wes "The Natural" Welker. What's more, most of us have seen most, if not all of these players perform.
And the cycle does not end. It only grows richer. Names like Graham Harrell, Michael Crabtree and Mike Leach are eligible for enlistment in the shrines of our mind. Perhaps one or more of them will scale such heights that they will vault beyond the local firmament and find a place within the hearts and souls of college football fans in Happy Valley; Athens, Georgia; Knoxville, Tennessee; Madison, Wisconsin and Palo Alto, California.
But, of course, it's not just the individual players and coaches who bind us to college football's past, even as they enmesh us in its present. There are the great teams and the great games. And the great plays... the miraculous, the exuberating, and the heart-rending.
Where but college football is a game decided by a kickoff return on the last play, that features five laterals and the final returner weaving through a marching band and belting a trombone player?
Where, but in a college football game, does a pint-sized quarterback named Flutie slay the Goliath that was Miami with a last second Hail Mary to somebody named Gerard Phelan, and in the process, cement his name in American history?
Where, but in college football does a rag-tag team coached by Jerry Moore jump up and tie Eric Dickerson, Craig James and the No. 2 squad in the land, only to have it snatched away by a cross-field lateral on a kickoff return that goes 91 yards for the decisive score?
Moore, incidentally, would exact his revenge on the Fates by leading an afterthought of an Appalachian State team into the Big House of the Michigan Wolverines and authoring one of the greatest upsets in American sports history.
And it is that time again. The nights are getting cooler. The drumbeats and the brass of marching bands can be heard in college towns from the Pacific through the Heartland and on to the Atlantic. In preparation for the great autumnal rite, Americans of all walks of life are planning their tailgate parties, breaking out their football apparel, and anticipating the walk across the alma mater campus toward the kickoff that will plunge us all back into the frenzy. Back into history.
What memories will be etched, what new legends will we witness on the morrow?
For a great many Americans, this is the best time of the year. True, most of us love Thanksgiving, and some of us persevere through the hurly and the burly of December with our love of Christmas intact. And the young and the superhuman may even revel in the coming of the New Year.
 |  |
| |
| What Graham Harrell and the Red Raiders do this season, good or bad, will always be remembered. |
Why does the approach of college football quicken the pulse, enliven the senses, and stake a claim to the sinew of our soul like no other phenomenon? I think nostalgia, tradition, and memory are the kernel of it all. And for that reason, the passion for college football probably grows keener, if also more mellow in a sense, the older one gets.
College football, perhaps like no other institution in American society, is steeped in lore, tradition and history. From the first college football game, an immediately post-bellum contest between Princeton and Rutgers, to the present day, college football has cultivated its legends and kept alive its ghosts.
The names are legion and they evoke reverence from the initiates of the college football experience. Rockne, Red Grange, Glen Davis and Doc Blanchard, Parseghian, Bear Bryant, Ernie Davis, Staubach, Herschel Walker, Sammy Baugh, Doak Walker, Hayes and Schembechler. The ledger of the immortals is well nigh endless. Actually, it is endless because new names are added with each passing season.
And embedded within this pantheon are myriad smaller constellations of great ones who cohere around individual colleges and universities. For this reason, college football is not just vast and overawing, it is intimate and personal.
Each of us as, college football parishioners, know well the names of the luminaries who have flashed across our local gridiron. As Red Raiders, we can recite the names without effort. E.J. "Double Tough" Holub. Donny "The Golden Palomino" Anderson. Dave Parks. Gabriel "Senor Sack" Rivera. Zach Thomas. And Wes "The Natural" Welker. What's more, most of us have seen most, if not all of these players perform.
And the cycle does not end. It only grows richer. Names like Graham Harrell, Michael Crabtree and Mike Leach are eligible for enlistment in the shrines of our mind. Perhaps one or more of them will scale such heights that they will vault beyond the local firmament and find a place within the hearts and souls of college football fans in Happy Valley; Athens, Georgia; Knoxville, Tennessee; Madison, Wisconsin and Palo Alto, California.
But, of course, it's not just the individual players and coaches who bind us to college football's past, even as they enmesh us in its present. There are the great teams and the great games. And the great plays... the miraculous, the exuberating, and the heart-rending.
Where but college football is a game decided by a kickoff return on the last play, that features five laterals and the final returner weaving through a marching band and belting a trombone player?
Where, but in a college football game, does a pint-sized quarterback named Flutie slay the Goliath that was Miami with a last second Hail Mary to somebody named Gerard Phelan, and in the process, cement his name in American history?
Where, but in college football does a rag-tag team coached by Jerry Moore jump up and tie Eric Dickerson, Craig James and the No. 2 squad in the land, only to have it snatched away by a cross-field lateral on a kickoff return that goes 91 yards for the decisive score?
Moore, incidentally, would exact his revenge on the Fates by leading an afterthought of an Appalachian State team into the Big House of the Michigan Wolverines and authoring one of the greatest upsets in American sports history.
And it is that time again. The nights are getting cooler. The drumbeats and the brass of marching bands can be heard in college towns from the Pacific through the Heartland and on to the Atlantic. In preparation for the great autumnal rite, Americans of all walks of life are planning their tailgate parties, breaking out their football apparel, and anticipating the walk across the alma mater campus toward the kickoff that will plunge us all back into the frenzy. Back into history.
What memories will be etched, what new legends will we witness on the morrow?
Sunday, August 24, 2008
you must protect this house
So I am in Dick's sporting goods last night and I just loved their selection of Under Armour gear. I am a huge fan of everything that they put out. Clothing, shoes, backpacks, hoodies, you name it. It doesn't hurt that they are the official outfitter of Texas Tech either.
Everything I have from Under Armour right now is probably my favorite article of clothing that I have. Work out shorts, Golf polo's, its all good stuff. Anyway, if I had some spare change I would invest in them as well. In a short amount of time, they have made a great penetration into the athletic clothing market especially to young athletes at the high school and college level.
Everything I have from Under Armour right now is probably my favorite article of clothing that I have. Work out shorts, Golf polo's, its all good stuff. Anyway, if I had some spare change I would invest in them as well. In a short amount of time, they have made a great penetration into the athletic clothing market especially to young athletes at the high school and college level.
less than a week away
I have been looking forward to the 2008 Texas Tech football season since the day Graham Harrell committed to Tech in the fall of 2003. All signs pointed then that this was to be the season that everything came together. A highly recruited quarterback who would be a senior sets the stage for high hopes when Mike Leach is your QB coach. Anyway, I went and saw Graham play in the Texas HS football playoffs for Ennis the day after Thanksgiving 2003. Ennis played Highland Park at Texas Stadium that day. HP was QB'ed by someone you may have heard of, Matthew Stafford who was a sophomore that season. Anyway, I left that game impressed with Graham but thinking with should be recruiting that guy.
While QB is an important position, I have come to believe that it is the second most important position on the field behind the Offensive Line. That is why I have such high hopes for this season in that we return all 5 starters from last year and 2 of them should be NFL draft picks in Rylan Reed and Louis Vasquez. Good story on Reed if you haven't read it.
Finally, offensively you need to have good receivers to catch if you throw the ball a lot. Which brings us to Michael Crabtree. I am an eternal Tech skeptic and often don't believe the hype until I see it on the scoreboard or the field. I had heard the reports about this kid who we redshirted in 2006 just dominating practice. I thought sure, our defense is not that great anyway, so whats the big deal. Also, Jarrett Hicks, Joel Filiani (6th round NFL pick), and Robert Johnson were all returning receivers for the 2006 season so he wouldn't get to play anyway. Labor Day 2007 made me a believer. 3 TDs in your college debut is pretty good, but the fact he made it look so easy. Then he did it the next week, and the next. Pretty amazing stuff. I am really bummed this will be his last year in a Tech uniform as thanks to that redshirt, he will be playing in the NFL in 2009.
Enough of my rambling on Tech football today. I am ready for the season can't you tell? I will try to write some of my opinions on the defense later this week. I think that will be the true test of can we break through or are we just going to have a good season?
While QB is an important position, I have come to believe that it is the second most important position on the field behind the Offensive Line. That is why I have such high hopes for this season in that we return all 5 starters from last year and 2 of them should be NFL draft picks in Rylan Reed and Louis Vasquez. Good story on Reed if you haven't read it.
Finally, offensively you need to have good receivers to catch if you throw the ball a lot. Which brings us to Michael Crabtree. I am an eternal Tech skeptic and often don't believe the hype until I see it on the scoreboard or the field. I had heard the reports about this kid who we redshirted in 2006 just dominating practice. I thought sure, our defense is not that great anyway, so whats the big deal. Also, Jarrett Hicks, Joel Filiani (6th round NFL pick), and Robert Johnson were all returning receivers for the 2006 season so he wouldn't get to play anyway. Labor Day 2007 made me a believer. 3 TDs in your college debut is pretty good, but the fact he made it look so easy. Then he did it the next week, and the next. Pretty amazing stuff. I am really bummed this will be his last year in a Tech uniform as thanks to that redshirt, he will be playing in the NFL in 2009.
Enough of my rambling on Tech football today. I am ready for the season can't you tell? I will try to write some of my opinions on the defense later this week. I think that will be the true test of can we break through or are we just going to have a good season?
Saturday, August 2, 2008
Please organize these steps in the correct order:
Step 1: Get college scholarship by being pretty darn good wide receiver.
Step 2: Sign with college of choice, in this case the University of Oklahoma.
Step 3: Carry gun to high school.
Step 4: Get kicked out of high school but still graduate by obtaining GED.
Step 5: Rap about guns and post on youtube.
Step 6: Lose College Scholarship.
If you answered they are already in the correct order, you win!
Then tell me this. Why did Dusty Dvoracek get back on the team after putting a guy in a coma? Why is DeMarcus Granger still on the team after his arrest? Why did Phil Loadholt stay on the team? Something ain't right in sooner land...
Step 2: Sign with college of choice, in this case the University of Oklahoma.
Step 3: Carry gun to high school.
Step 4: Get kicked out of high school but still graduate by obtaining GED.
Step 5: Rap about guns and post on youtube.
Step 6: Lose College Scholarship.
If you answered they are already in the correct order, you win!
Then tell me this. Why did Dusty Dvoracek get back on the team after putting a guy in a coma? Why is DeMarcus Granger still on the team after his arrest? Why did Phil Loadholt stay on the team? Something ain't right in sooner land...
Thursday, July 31, 2008
Less than a month away...
OK, the upcoming football season is less than a month away. 2008 is set up to be the most anticipated season for me in a very long time. Will the Raiders do it this year? I don't want to get my hopes up, but its now or never.
10 starters on offense return, 8 on defense. To me that is one of the biggest stats in evaluating prospects for the coming season when I look at teams in college football. Experience is key and Tech has it. More on my thoughts in the coming days...
10 starters on offense return, 8 on defense. To me that is one of the biggest stats in evaluating prospects for the coming season when I look at teams in college football. Experience is key and Tech has it. More on my thoughts in the coming days...
Saturday, July 26, 2008
Not typically part of being a CPA: Documenting inefficiencies again...
Sorry it has been a while since I have had a chance to write. Had another example last week of the inefficiency from the Wall Street Investment Bank that I work for. The past couple of weeks myself and others on the team have been working on a management fee calculation and the related notices that are sent to the partners in the fund. We calculate this fee by taking a percentage of the unreturned capital in the fund and charge it to the partners semi-annually. We have schedules that we maintain for other purposes that we leverage to make the calculation.
Long story short, the guy we sent it to in New York rejected it because the files were not linked in excel. So in the middle of preparing financial statements, he wants to create a dynamic file that is linked and formatted all pretty. Good idea, but inefficient use of resources. He had a file that did this for him, he was just too lazy to dig into it. Mind you, it is the same file that he had been sent for every previous management fee call that we have prepared for him. So guess what I did for 11 hours on Wednesday? Thats right, prepare this dynamic file that game him the same answer as before. Brilliant!
Long story short, the guy we sent it to in New York rejected it because the files were not linked in excel. So in the middle of preparing financial statements, he wants to create a dynamic file that is linked and formatted all pretty. Good idea, but inefficient use of resources. He had a file that did this for him, he was just too lazy to dig into it. Mind you, it is the same file that he had been sent for every previous management fee call that we have prepared for him. So guess what I did for 11 hours on Wednesday? Thats right, prepare this dynamic file that game him the same answer as before. Brilliant!
Monday, June 23, 2008
My review of Chicago-part 1
Ok, so I am somewhat delayed in posting this, but we had a great time on our trip to Chicago. I have been 2 times before, but never had spent any extended time there. Each time before it had been for training at a Chicago suburb. St. Charles, IL for Arthur Andersen and Rosemont, IL for KPMG. This time I really got to explore the city and see what it had to offer.
After taking the DART here in Dallas for over 4 years to work everyday, I am a big "fan" of light rail public transit. Chicago's "L" is probably the best system in the country. Everywhere we wanted to go you could go by train and if you didn't get right there, a bus could take you the rest of the way. Also, having the train service both of the city's airports is something I wish Dallas could get on board with.
I was also impressed by how clean the system and the city in general was. You really felt welcome there no matter where you went. The people were extremely friendly and really seemed to genuinely care about their city.
The food was great too. Chicago style hot dogs and deep dish pizza were excellent and Kristy had me try some Garrett's popcorn that was on Oprah that was pretty good as well. Visiting Gibson's again was good, although I remember it being better when I went to the one in Rosemont back in 2003 when I was at KPMG. Geja's Cafe was good too, although I thought it was a little over the top on the fondue stuff. At least I can say I have done fondue now. Anyway, when I have more time, I will go into more detail about other things we did.
After taking the DART here in Dallas for over 4 years to work everyday, I am a big "fan" of light rail public transit. Chicago's "L" is probably the best system in the country. Everywhere we wanted to go you could go by train and if you didn't get right there, a bus could take you the rest of the way. Also, having the train service both of the city's airports is something I wish Dallas could get on board with.
I was also impressed by how clean the system and the city in general was. You really felt welcome there no matter where you went. The people were extremely friendly and really seemed to genuinely care about their city.
The food was great too. Chicago style hot dogs and deep dish pizza were excellent and Kristy had me try some Garrett's popcorn that was on Oprah that was pretty good as well. Visiting Gibson's again was good, although I remember it being better when I went to the one in Rosemont back in 2003 when I was at KPMG. Geja's Cafe was good too, although I thought it was a little over the top on the fondue stuff. At least I can say I have done fondue now. Anyway, when I have more time, I will go into more detail about other things we did.
Tuesday, June 10, 2008
Not typically part of being a CPA. Documenting inefficiencies...
There are several things about my job that I think are incredibly inefficient. One example happened today and I think its extremely comical when you think about it and also an example of the mentality and inefficiency of some New York/Wall Street/Corporate counterparts I work with. First some background: I work for a firm that was acquired by a Wall Street Investment Bank about 4 or so years ago. We do the accounting for most of their private equity funds. I happen to work on a $2.5 billion Real Estate fund. We have counterparts in New York who interact directly with the deal professionals. We are not permitted to contact them even though their information is what we use to produce the financial statements for the fund. Our counterparts are also not accountants but rather finance people. They review all of our work which doesn't make sense. Why hire a group made up of CPA's to do your accounting if you then shoot holes in all of their opinions and double check all of their work? Don't understand that one and its probably the inefficiency that would need to be corrected in order to fix all the other broken processes we have.
Anyway, today's example is that an analyst in New York wanted me to rename a package of partner commitment schedules that we prepare in excel with a specific name. Mind you that was the sole reason for us to resend these files; change the name on them. In the time it took her to draft the email she could have done exactly what she was wanting to do. Inefficiency at its finest! Not only that, she was extremely vague in exactly how to name each of these files. Mind you there were 8 of them that all had different partnership names and I was supposed to read her mind and know how to name each one! I also have no idea how they store these on their file server and cannot access them. The have to save them off of the email I send in order to have them on there server anyway!
I think I am going to start documenting how stupid and inefficient this business model is that I work in. I am a CPA that answers, but not reports, to an analyst in New York. I tend to think of myself as not an egotistical person, (not everyone would agree with that statement ha!) but come on. This is beneath me and wastes my time. It also wastes the time of people who work for me and wastes the precious time and money of a company that needs both in the worst way right now. The stock dropped another 7% today. Coincidence? I think so...
Anyway, today's example is that an analyst in New York wanted me to rename a package of partner commitment schedules that we prepare in excel with a specific name. Mind you that was the sole reason for us to resend these files; change the name on them. In the time it took her to draft the email she could have done exactly what she was wanting to do. Inefficiency at its finest! Not only that, she was extremely vague in exactly how to name each of these files. Mind you there were 8 of them that all had different partnership names and I was supposed to read her mind and know how to name each one! I also have no idea how they store these on their file server and cannot access them. The have to save them off of the email I send in order to have them on there server anyway!
I think I am going to start documenting how stupid and inefficient this business model is that I work in. I am a CPA that answers, but not reports, to an analyst in New York. I tend to think of myself as not an egotistical person, (not everyone would agree with that statement ha!) but come on. This is beneath me and wastes my time. It also wastes the time of people who work for me and wastes the precious time and money of a company that needs both in the worst way right now. The stock dropped another 7% today. Coincidence? I think so...
Monday, June 9, 2008
Tracking my Restricted Shares
Lets take a moment to review the activity since November 30, 2007. This was the day I was granted restricted shares in the firm for my year end bonus. Mind you that was only 5% of my 20% bonus so good for 1% of my annual compensation for 2007. Pretty immaterial in the grand scheme of things, but none the less...
I was granted these shares with a strike price $15 less than the closing price on Nov. 30th. So roughly $47/share. Today the firm projected a $2.8 Billion loss for fiscal 2nd quarter 2008 and the stock closed today at $29.48. This puts my shares roughly $17 underwater. Nice piece of annual compensation huh? They also plan on raising $6 Billion of new capital, further diluting the value of my shares. Very nice!
Anyway, the shares vest at 75% in 3 years and 100% in 5 years so no big deal if you are looking long term. Buying opportunity right?
I was granted these shares with a strike price $15 less than the closing price on Nov. 30th. So roughly $47/share. Today the firm projected a $2.8 Billion loss for fiscal 2nd quarter 2008 and the stock closed today at $29.48. This puts my shares roughly $17 underwater. Nice piece of annual compensation huh? They also plan on raising $6 Billion of new capital, further diluting the value of my shares. Very nice!
Anyway, the shares vest at 75% in 3 years and 100% in 5 years so no big deal if you are looking long term. Buying opportunity right?
Sunday, June 8, 2008
Anticipation
Almost time for the highlight of the summer, Kristy and my trip to Chicago. We are flying out on Saturday morning on American (right before the baggage fee is implemented) and returning Tuesday night (right after the baggage fee is implemented). Should be a lot of fun. We are staying at Swissotel for 2 nights and the Hotel Sofitel for one night.
Planned dinners include Kristy's choice of Geja's Cafe, and mine of Gibson's Steakhouse. I have eaten at Gibson's before on my last trip to Chicago, but out in Rosemont near O'Hare. I really enjoyed it then, so I am looking forward to the downtown Chicago location.
We plan on seeing the Navy Pier, taking an architecture tour, and seeing the musical "Wicked" among other things. I also want to have my picture made in front of the Michael Jordan statue at the United Center. Should be a lot of fun to celebrate our 5th Anniversary.
Planned dinners include Kristy's choice of Geja's Cafe, and mine of Gibson's Steakhouse. I have eaten at Gibson's before on my last trip to Chicago, but out in Rosemont near O'Hare. I really enjoyed it then, so I am looking forward to the downtown Chicago location.
We plan on seeing the Navy Pier, taking an architecture tour, and seeing the musical "Wicked" among other things. I also want to have my picture made in front of the Michael Jordan statue at the United Center. Should be a lot of fun to celebrate our 5th Anniversary.
Monday, May 26, 2008
Korea Exchange Bank
I can't help but feel sorry for my old employer, Lone Star Funds/Hudson Advisors. They have been trying to sell their interest in KEB for some time now. If you read the article, know that this is at least the 2nd major buyer they have found for the bank, but regulators in Korea either never want foreign investment in their country again or are incredibly stupid. They have been grasping at straws to find a way to keep the investment fund from making a huge profit after Lone Star took a substantial risk by buying the bank in the first place.
If you go back in time to when Lone Star bought the bank, you would see nothing but positive press in Korea of this heroic fund from America coming to save the day and their insolvent national bank. Now through excellent management, Lone Star is going to make a very hansom profit for their investors and the Koreans simply don't like that.
If you go back in time to when Lone Star bought the bank, you would see nothing but positive press in Korea of this heroic fund from America coming to save the day and their insolvent national bank. Now through excellent management, Lone Star is going to make a very hansom profit for their investors and the Koreans simply don't like that.
Monday, April 21, 2008
crock pot thief
Hope you enjoy your new crock pot. It was only $3 to begin with. I am sure it will be used well in your home. Surely, you could have at least offered half price before stealing it. I hope your pot roasts come out like boots, your queso burns, and your chicken is extra dry. Don't come back to Sachse anymore!
Sunday, April 20, 2008
live blogging from the garage sale
So far we have made we have made $236 selling baby stuff, a TV, clothes, a stroller, car seat, shoes and other odds and ends. Not bad I must say.
Our neighborhood allows 2 garage sales a year and they do all the promoting of it. Yesterday we had a ton of traffic out here in Sachse, and a good time hanging out in the sun. We combined our sale with our friends the Wehrli's and they made about $170. Good results and we are getting rid of a lot of stuff! Come on out today!
Our neighborhood allows 2 garage sales a year and they do all the promoting of it. Yesterday we had a ton of traffic out here in Sachse, and a good time hanging out in the sun. We combined our sale with our friends the Wehrli's and they made about $170. Good results and we are getting rid of a lot of stuff! Come on out today!
Saturday, April 19, 2008
Sunday, April 6, 2008
Where amazing happens
Don't know if you caught the game today, but just let it be known that Dirk is one of the toughest athletes in the NBA. He is recovering nicely from that horrible fall a couple weeks ago and I am hoping for more in the playoffs,
Saturday, March 15, 2008
Those who do not learn from history...
are doomed to repeat it. The Bear Stearns story reminds me a lot of Enron's final days in a way. Both have executives saying everything was OK but seemed oblivious to market conditions and other issues surrounding their firms. Both faced liquidity issues and had lenders seem to lose confidence causing their stock price to have huge drops in short time frames. The government became a big player in the Enron case and seems to be stepping in that direction with the announcement that emergency funding from the Federal Reserve.
If you have never read Conspiracy of Fools I highly recommend it. Kurt Eichenwald's book is the fastest 660 page book I have ever read. The story of the collapse of Enron is similar in several ways to the Bear Stearns story from what I have read in my spare time about the situation.
I can only hope that Bear will be the only investment bank to go down. I happen to be employed indirectly by a similar firm to Bearand there are several rumors of the firm's liquidity issues out in the market. Although not as severe as Bear's situation, I think all investment banks with high exposure to the mortgage crisis will have someone question their liquidity in the next several weeks.
If you have never read Conspiracy of Fools I highly recommend it. Kurt Eichenwald's book is the fastest 660 page book I have ever read. The story of the collapse of Enron is similar in several ways to the Bear Stearns story from what I have read in my spare time about the situation.
I can only hope that Bear will be the only investment bank to go down. I happen to be employed indirectly by a similar firm to Bearand there are several rumors of the firm's liquidity issues out in the market. Although not as severe as Bear's situation, I think all investment banks with high exposure to the mortgage crisis will have someone question their liquidity in the next several weeks.
Thursday, March 6, 2008
Sachse snow
Sike! Guess everyone else in the metroplex gets snow except for us. Sure have lots of rain, but it is funny to watch the news and see everyone freak out and leave work early. Funny stuff.
Interesting story about Sabanes Oxley
One of the reasons I got out of public accounting was the horrible law passed by Congress after the Enron debacle and other financial collapses in the late 90's/early 00's. This post on Dealbook I thought was pretty interesting regarding the decision of one company to delist its shares in order to attempt to avoid compliance with the law. It was by the company's estimate an attempt to save $750K in costs a year to comply with the law. However, some investors protested and the price of the stock dropped sharply.
To me, this shows two sides of this legislation. One, that the high cost to comply with these laws can be a big motivation to go private. Second, investors do like the transparency of financial reporting that comes with the law as evidenced by the drop in the stock price right away following the decision to delist. Somehow there has to be a happy medium to benefit both the needs of shareholders to know about their investment and the desire of management to reduce cost for the ultimate benefit of those shareholdings. I think this is an interesting paradox that as financial regulations become more complicated, at what cost is it worth to continue to comply?
I think the original authors of the legislation probably did not envision the results of the law for the long term, rather as politicians typically do, they just looked at the immediate benefits in the witch hunt following Enron. I definitely think this law should be reworked as to be more efficient in its application.
To me, this shows two sides of this legislation. One, that the high cost to comply with these laws can be a big motivation to go private. Second, investors do like the transparency of financial reporting that comes with the law as evidenced by the drop in the stock price right away following the decision to delist. Somehow there has to be a happy medium to benefit both the needs of shareholders to know about their investment and the desire of management to reduce cost for the ultimate benefit of those shareholdings. I think this is an interesting paradox that as financial regulations become more complicated, at what cost is it worth to continue to comply?
I think the original authors of the legislation probably did not envision the results of the law for the long term, rather as politicians typically do, they just looked at the immediate benefits in the witch hunt following Enron. I definitely think this law should be reworked as to be more efficient in its application.
Sunday, March 2, 2008
re: Texas Tech basketball
...oh yeah, we just beat the number 5 team in the country. 83-80. Don't you love being a fan of the most consistent team in the country?
A&M scored 10 points in the first half against OU on Saturday after blowing Tech out by 50. Weird.
A&M scored 10 points in the first half against OU on Saturday after blowing Tech out by 50. Weird.
Thursday, February 28, 2008
Texas Tech Basketball
Congrats to the Aggies on finally beating Tech in basketball or football. Man was that embarrassing. I expected to lose by 50 this weekend to Kansas, but not to A&M.
I must say I have been pleasantly surprised by Pat Knight so far. I think the players have really responded to him and played very hard. It is obvious that this team has been devoid of talent this season, but I see potential for the future if Pat will get out there and recruit.
Its hard to watch this season, but hopefully things will turn around with the new regime.
I must say I have been pleasantly surprised by Pat Knight so far. I think the players have really responded to him and played very hard. It is obvious that this team has been devoid of talent this season, but I see potential for the future if Pat will get out there and recruit.
Its hard to watch this season, but hopefully things will turn around with the new regime.
Tuesday, February 19, 2008
Jason Kidd - thumbs up
You play. To win. The game.
Win now. With this trade the Mavs have made a decision to worry about the future later and start worrying about the present. I loved Devin Harris' game, but him being the next Kevin Johnson someday will never be the same as having a 35 year old Jason Kidd today. I think this is a good move for the Mavs, but I wish they could somehow keep Diop. I think he was very underrated as far as what he brings to the table defensively and with rebounding.
The Mavs may not win it this year, but they have put their cards down on the table that it must be in the next 2-3 years with this current core of Dirk, Josh, JET, and now Kidd.
Win now. With this trade the Mavs have made a decision to worry about the future later and start worrying about the present. I loved Devin Harris' game, but him being the next Kevin Johnson someday will never be the same as having a 35 year old Jason Kidd today. I think this is a good move for the Mavs, but I wish they could somehow keep Diop. I think he was very underrated as far as what he brings to the table defensively and with rebounding.
The Mavs may not win it this year, but they have put their cards down on the table that it must be in the next 2-3 years with this current core of Dirk, Josh, JET, and now Kidd.
Monday, February 18, 2008
4 months old = newborn
Reid is now 4 months old, but taking care of him recently is more like he is 4 days old. He is still getting up a couple times a night and the second time he basically gets up for the day. I try to help the most on the weekends but that doesn't mean I am not up during the week too. I don't know how Kristy does it but you have to respect her ability to balance everything. She really does a great job with Reid and Westin on barely any sleep!
I used to have a roommate that would only sleep 3 hours a night. I never understood how he did it, because it is really hard. Now it feels like we are doing that and then working 16 hour days after that.
I used to have a roommate that would only sleep 3 hours a night. I never understood how he did it, because it is really hard. Now it feels like we are doing that and then working 16 hour days after that.
Golf
I got to play golf today for the first time in about nine months. Prior to that I maybe only played 2 other times in the year before that. It is extremely humbling to go out there and try to look like you have actually played before. I have to admit I stink. I really wish I could play more, but my life just won't allow for at this time.
When I am able to play again regularly, I need to invest in some swing lessons. I really struggle off the tee. In fact I hate to tee off. I love the middle and short iron shots as well as chipping and putting, but teeing off really exposes my game.
When I am able to play again regularly, I need to invest in some swing lessons. I really struggle off the tee. In fact I hate to tee off. I love the middle and short iron shots as well as chipping and putting, but teeing off really exposes my game.
Monday, January 28, 2008
Is being a CPA all that its cracked up to be?
Sometimes I really love my job. I love the people that work for and with me. I love working in private equity and especially in real estate. I find it extremely interesting and challenging.
At other times I wonder if I made the wrong choice 10 years ago when I thought accounting would be a good career option. When deciding what to major in, I thought about picking finance because my Dad worked in banking and I thought that would be a good idea for me. Then I took an accounting class in high school and found it extremely easy. I ended up helping all the other kids in the class and really liked it. So when it came time to pick a major, I picked accounting.
Fast forward 10 years and I really question my decision. I work for someone that is a micro-manager and wants to be out of the detail until its time to turn something in. Then I have to explain all the transactions for the entire quarter to someone who is supposed to be looking at it from a high level. That reached a breaking point for me this weekend when my boss decided to look all weekend at every transaction. Try cramming that into 2 days and it doesn't equal fun. I am not a big fan of working weekends, being called at home on Saturday night at 9:30, working Sunday, and then being called again on Sunday night while I am trying to cook a rib eye on the grill.
I won't lie, I get paid extremely well for someone under 30. I have worked hard to get where I am at, but I keep going back to my sophomore year at Texas Tech. I had a history TA, Richard, who loved Dave Matthews Band and had worked for years in the real world in business. He decided it wasn't worth it and wanted to go back and teach his real love, history. Anyone who knows me, knows that history is something that has always fascinated me and how much I enjoyed that spring semester teacher and his history class. It didn't hurt that he also worked at Tom's Daiquiri and gave me free drinks at a time when I didn't have much cash to spare.
Why can't we do what we love for a career?
At other times I wonder if I made the wrong choice 10 years ago when I thought accounting would be a good career option. When deciding what to major in, I thought about picking finance because my Dad worked in banking and I thought that would be a good idea for me. Then I took an accounting class in high school and found it extremely easy. I ended up helping all the other kids in the class and really liked it. So when it came time to pick a major, I picked accounting.
Fast forward 10 years and I really question my decision. I work for someone that is a micro-manager and wants to be out of the detail until its time to turn something in. Then I have to explain all the transactions for the entire quarter to someone who is supposed to be looking at it from a high level. That reached a breaking point for me this weekend when my boss decided to look all weekend at every transaction. Try cramming that into 2 days and it doesn't equal fun. I am not a big fan of working weekends, being called at home on Saturday night at 9:30, working Sunday, and then being called again on Sunday night while I am trying to cook a rib eye on the grill.
I won't lie, I get paid extremely well for someone under 30. I have worked hard to get where I am at, but I keep going back to my sophomore year at Texas Tech. I had a history TA, Richard, who loved Dave Matthews Band and had worked for years in the real world in business. He decided it wasn't worth it and wanted to go back and teach his real love, history. Anyone who knows me, knows that history is something that has always fascinated me and how much I enjoyed that spring semester teacher and his history class. It didn't hurt that he also worked at Tom's Daiquiri and gave me free drinks at a time when I didn't have much cash to spare.
Why can't we do what we love for a career?
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