Mitt loses the election with his attitude

Darla said:
Nope, it's the very rich most likely to stiff you and that includes stiffing banks. The wealthy will never give a second thought about walking away from a bad investment, or an investment that has turned bad.

Credit ratings are for proles top. The elite don't worry about credit ratings.
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That's why you don't give them credit. Then again that was easy for me to say. Most of the revenue in my business was on billable hours. My customers would try and talk me into handling supplies and packaging materials for them. I would decline. Sure it's tempting to manage those and to make extra cash by marking up the cost of materials and supplies but then you have to go into debt and if they don't pay you, you're screwed. Not a gamble I was willing to take. So I kept it on primarily a billable hour basis for my services. I only got screwed once and that was for less then a grand and I never did business with them again.
 
The Dude said:
right and you know no poor people who stiff. LOFL
Poor people are funny
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Who in their right mind gives poor people credit? LOL

As my father said. Never loan more then you can afford to lose. That certainly applies to a small business and it's what gets a lot of small businesses, particularly contractors, in trouble. They extend more credit then they can afford to lose.
 
Mott the Hoople said:
That's why you don't give them credit. Then again that was easy for me to say. Most of the revenue in my business was on billable hours. My customers would try and talk me into handling supplies and packaging materials for them. I would decline. Sure it's tempting to manage those and to make extra cash by marking up the cost of materials and supplies but then you have to go into debt and if they don't pay you, you're screwed. Not a gamble I was willing to take. So I kept it on primarily a billable hour basis for my services. I only got screwed once and that was for less then a grand and I never did business with them again.
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You have to give credit if you want a business. Let me get this straight, you are no longer in business but you are advising me not to give credit to my customers because you didn't give credit to yours?

Yep, it's a penis thing!

I love it.
 
No to be all square and on subject, but this graphic is awesome:

Mitt-Romney-Favorability-TPM-PollTracker.png



Poor Mitt.
 
Darla said:
You have to give credit if you want a business. Let me get this straight, you are no longer in business but you are advising me not to give credit to my customers because you didn't give credit to yours?

Yep, it's a penis thing!

I love it.
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Oh no....Not givng you advice dont even go there. I have no idea what your business is. The business I was in was a professional service. If you get shafted there you're essentially just out of a paycheck. Nor was I saying dont' extend credit. I said don't extend for more then 30 days if you can help it and don't extend for more then you can afford to lose and know your customers credit history and if it is showing that they are not paying other vendors. If the credit history shows that they are not paying other vendors and you continue to give them credit well that's completely up to your tolerance for risk. As a professional service, I couldn't afford to take those kind of risks so I never got burned to badly....didn't get rich either.

But again, that's easy for me to say as I was only selling a professional service. I'd show up, do the job, leave and send the customer a bill and expect it to be paid in 30 days.
 
Dungheap said:
No to be all square and on subject, but this graphic is awesome:

Mitt-Romney-Favorability-TPM-PollTracker.png



Poor Mitt.
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Obama's is 46.9 favorable to 48.5 unfavorable for a -1.6 unfavorable rating and 4.6 undecided.

Mitt's favorable is 46.6 to 28.9 unfavorable for a -17.7 unfavorable rating and a 22.5 undecided.
 
Dungheap said:
He's about a +3 favorable. The better metric as far as re-electability is his job approval rating, not favorability. Obama's job approval rating is about -2. Mitt does't have a job, hence no job approval rating.
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The TPM poll tracking is showing current polling that Obama consistantly leads Mitt by around 6 to 7%.
 
In my case it is not about extending credit, it is about the final payment. The smallest I have been able to arange a final payment is 20%. So... on a 30k job, the last payment, (not payable until AFTER completion) is 6K. Of course, that is all profit, assuming I priced the job correctly. Getting screwed out of 6K hurts a small business.
If I could get the final payment down to 10%, at least I would make some profit when I get screwed. Doesn't happen often, but it does happen and it is always the wealthy who do it.
 
General Burnside said:
The super rich have terrible credit, or even no credit. One of my roommate's friends is a millionaire who owns a shipping company. He has no credit at all because he doesn't need it. When he went to purchase a cabin on the other side of the mountains this winter, he dropped a million in cash.
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Did he ever find it?
 
Rune said:
In my case it is not about extending credit, it is about the final payment. The smallest I have been able to arange a final payment is 20%. So... on a 30k job, the last payment, (not payable until AFTER completion) is 6K. Of course, that is all profit, assuming I priced the job correctly. Getting screwed out of 6K hurts a small business.
If I could get the final payment down to 10%, at least I would make some profit when I get screwed. Doesn't happen often, but it does happen and it is always the wealthy who do it.
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Really I'm shocked, I would have thought plenty poor people get 30,000 fancy iron works jobs.
 
The Dude said:
Really I'm shocked, I would have thought plenty poor people get 30,000 fancy iron works jobs.
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I do simple small rails for elderly people all the time, for their safety. I often don't charge a deposit and have never been burned.
 
Rune said:
I do simple small rails for elderly people all the time, for their safety. I often don't charge a deposit and have never been burned.
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Let me guess, you wouldn't want to bet serious money rich people don't default more than poor people. Maybe they saw a sucker doing fancy welding and laughed all the way to the bank.:awesome:
 
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