Boeing Closes Long Beach Plant (1 Viewer)

[GrauGeist]

$183/month rent in California in 1980 must have been where the illegal aliens lived. Back then a decent apartment in ATL cost $300/month and when we heard that it would cost $1000/month in LA, we couldn't understand how people could afford to live there.

My two bedroom place in Anaheim was $280 a month - this was late 1980's.

 

[MIflyer]

Do you remember how thick the help wanted section of the LA Times was for their Sunday edition?

No, I never looked at that, but around 1982-83 I was getting unsolicited letters from head hunters looking for people and even one from an insurance company seeking a district sales manager. I could see companies I dealt with (General Dynamics, MDAC, Rocketdyne, Airesearch, etc) hiring someone to recruit me indirectly but the the district sales manager for LA of an insurance company has got to be a 6 figure job and I had no contact with them.

I understand that Oracle is moving out of CA as well, and that could be as many as 12,000 direct hire jobs and thousands more from supporting companies.

 

[cvairwerks]

Valero is closing down the last of their refineries in Ca this year, and Chevron is closing or has closed all but one, and it may close as well. The new state requirements for stockpiling gasoline at the refining/distribution facility is probably going to drive even more of the oil industry out of there. Lots of politics involved in that part of life there.

 

[MIflyer]

Lots of politics involved in that part of life there.

They will have no problems, since they can power the entire state and all the vehicles by extracting moonbeams from cucumbers.

Ya gotta wonder if there really is a bunch of people out there who want to return to those thrilling days of yesteryear. A candidate for Santa Barbara Mayor in the 1980's ran on the concept of banning automobiles and returning to horses. This may be a back door way of achieving that goal.

 

[GrauGeist]

The Ca senate just passed a bill that will tax drivers .06 to .09 cents a mile.

For fuel powered vehicle owners, this means we'll be paying yearly registration, tax on fuel, tax on any parts (tires come with a tax AND fee) and now this mileage tax.

Interestingly enough, the mileage tax revenues are stated to be for infrastructure (which they also claimed the increased fuel tax was for) but in the assembly bill, clearly states that the revenue will go to the State's general fund...

Great

 

[BobB]

Yeah, circa 1980 I think I was paying about $300/month for 1 bedroom apartment in Torrance CA.

One of the problems in LA in the 80's was that if a man owned a good chunk of property, such as for a trailer park, and he died, then the inheritance tax his wife or other relatives would have to pay would mandate the place be sold. Then it would be bought by a developer, the tenants evicted and houses or condos built there, leaving the people with trailers no place to go. And in fact a number of innovators who started IT-related businesses had to sell them in order to pay capital gains taxes related to increases in the value of the stock they owned. They went from being the CEO of their own company to at most the VP of another small company.

Another example is that in 1960 billionaire Howard Hughes had to borrow $168.8 million to buy jet airliners for TWA. The banks included a condition that if the management of TWA changed, Hughes would have to relinquish his stock voting rights to them. Before the year was over, the president of TWA quit and the banks took control of TWA. After years of litigation, Hughes sold his TWA stock for $566 million putting him the unusual position of being a billionaire with huge amounts of cash as a significant percentage of his net worth. Hughes' tax advisors told him to leave California before accepting the check for the TWA stock sale proceeds.

 

[MIflyer]

A problem for many years has been the plight of poor people in coastal SC. When the owner of a property dies the status of the estate is often somewhat, shall we say, confused. So who pays the estate taxes on the property, which has increased in value by order of magnitude, since, shall we say "1865?" The result is that the property has to be sold to pay the taxes and then the proceeds has to be spread over an extended family despite claims that are based on births that occurred out of wedlock. The result is the a bunch of people end up with a little money, the family loses their ancestral home, and the real estate developers take over. This is similar to what occurs in CA, except at least someone ends up with substantial money.

 

[MIflyer]

the revenue will go to the State's general fund...

Or rather, the same place the Wildfire Relief money went, to support politically favored "charities." It made perfect sense for the money meant for the people of Malibu, Altadena, and Pacific Palisades should go to funding daycare for illegal immigrants in the Central Valley.