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Markets still falling like whoa

Llano Estacado

By Llano Estacado
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52-80

52-80 19376

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1 hour ago, CooterBrown said:


If he held true to form for a software company, he responded with a 15-20% price hike.

but we will lower your TCO, so how about we give you a big break on the annual bill, but you have to pay us more in monthly fee with this SAAS contract

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Eastwood
Eastwood

That's why I'm out. There is no end game, IMO. This has to be fixed outside of the market and I got too nervous about what that entails for retail investors. They will always be last on the list, if o

Rusty Shackelford
Rusty Shackelford
Eastwood
Eastwood

I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

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tokamak

tokamak 6687

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Posted (edited)

My wife is a salesperson. She's got one big customer and then a bunch of small fries. At this point, the big boys have called every single one of their vendors asking for cost out.

FWIW, my wife's company mostly told them to get bent. She tried to explain to the bean counters that the customer is going to remember that. Bean counters gonna count beans, though.

Edited by tokamak
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BevoSwag

BevoSwag 272

Posted
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6 minutes ago, tokamak said:

My wife is a salesperson. Her primary customer is a large hospital system. At this point, they have called every single one of their vendors asking for cost out.

FWIW, my wife's company mostly told them to get bent. She tried to explain to the bean counters that the customer is going to remember that. Bean counters gonna count beans, though.

Unless they work for Tesla :)

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bernorange

bernorange 8385

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26 minutes ago, tokamak said:

...  She tried to explain to the bean counters that the customer is going to remember that. ...

Yeah, in our case, this company has been a good customer and advocate for our solutions, so we are trying to work something out with them that doesn't involve anyone getting broomhandles jammed into dark places.  Hopefully when the economics turn around post C19, they will remember our good faith when we do raise prices.

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UTexasFight

UTexasFight 9790

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10 hours ago, bernorange said:

We had some peeps from the purchasing dept of a fortune 500 company conference call us to beg for a discount on their annual bill for a software license.  They were emotionally distraught.  The company is deep in the red this year and they are having to slash budgets, jobs, etc.  2020 is ass.

“Something something ....fool at the table...something something.”

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52-80

52-80 19376

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1 hour ago, tokamak said:

My wife is a salesperson. She's got one big customer and then a bunch of small fries. At this point, the big boys have called every single one of their vendors asking for cost out.

FWIW, my wife's company mostly told them to get bent. She tried to explain to the bean counters that the customer is going to remember that. Bean counters gonna count beans, though.

i do like the notion how in the corporate world, binding contracts are only binding until somebody changes their mind.

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Nice Guy Eddie

Nice Guy Eddie 13713

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Sucks to be a vendor. If your customer is knocking it out of the park, it's not like you can call them to ask for increased pricing in the middle of a contract. They will hold you to the contract. But when they're going through a bad time, they want concessions.

If you're a critical vendor for them, I think you need to use that as leverage.  Exchange a short term price break for a longer agreement with escalating pricing, and a penalty to break the contract. They will whine and call you a bad partner but why should the vendor take a hit when the customer failed to manage their risks. I guarantee they're not reacting well if their customers are asking for a price break.

Win-win. the customer gets immediate relief to keep the lights on, and the vendor has future assurances. but its doubtful the customer will see it like that.

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Blotto

Blotto 23978

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1 hour ago, 52-80 said:

lmao.  part of the black-comedy that is Nikola Motors and the fuckhead founder (whos about 2x and dumb and 10x more brazen than Adam Neuman).... is hes being accused of sexually molesting....HIS FIRST COUSIN!

 

 

I'm guessing Trevor is about ready for September 2020 to be over. What a fuckstick. 

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Blotto

Blotto 23978

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Just now, Wally Fairway said:

I think GM reaffirmed they are still working with NKLA - I don't think GM put money in, they are supposed to provide engineering and mfg

If I recall correctly the deal was all upside for GM. Plus Trevor promised to throw in a free back rub if Mary Berra would throw them some credibility. 

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BevoSwag

BevoSwag 272

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Can someone tell me how all these batteries used by EV's are saving the planet?  What happens in 2035?  I'd imagine if 50% of America is plugged in charging by 2040 the electric supply will be just as damaging as fossil fuel.  Preparing myself for incoming missile's but I ask in all honesty. 

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B00M

B00M 6728

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5 minutes ago, BevoSwag said:

Can someone tell me how all these batteries used by EV's are saving the planet?  What happens in 2035?  I'd imagine if 50% of America is plugged in charging by 2040 the electric supply will be just as damaging as fossil fuel.  Preparing myself for incoming missile's but I ask in all honesty. 

We just need to learn how to recycle batteries. Easy peasy. 

Edited by B00M
Learn how to give China our batteries to (not) recycle
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BLKNSTY

BLKNSTY 289

Posted
Posted
Sucks to be a vendor. If your customer is knocking it out of the park, it's not like you can call them to ask for increased pricing in the middle of a contract. They will hold you to the contract. But when they're going through a bad time, they want concessions. If you're a critical vendor for them, I think you need to use that as leverage.  Exchange a short term price break for a longer agreement with escalating pricing, and a penalty to break the contract. They will whine and call you a bad partner but why should the vendor take a hit when the customer failed to manage their risks. I guarantee they're not reacting well if their customers are asking for a price break.

Win-win. the customer gets immediate relief to keep the lights on, and the vendor has future assurances. but its doubtful the customer will see it like that.

 

My suggestion would be if you have a dedicated, experienced, capable account manager that you would like to retain - eat the loss and trust that the account manager is capable of utilizing the discount for future gains. Never been a fan of micromanaging.

 

Otherwise you run the risk of losing a big client, losing a good employee with a significant amount of institutional knowledge to a competitor, and having to retrain a new employee who has a 75%+ chance of leaving you in less than two years. All while the whole market is upside down due to COVID. Yikes.

 

Other than that, fuck you pay me. Clients rarely remember negative shit as long as you do good work, employees on the other hand - remember that time you took food out of their mouth.

 

 

Sent from my iPhone using Tapatalk

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Mack Tripper

Mack Tripper 706

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57 minutes ago, BevoSwag said:

Can someone tell me how all these batteries used by EV's are saving the planet?  What happens in 2035?  I'd imagine if 50% of America is plugged in charging by 2040 the electric supply will be just as damaging as fossil fuel.  Preparing myself for incoming missile's but I ask in all honesty. 

Elon talked about this at battery day today. They are about to bring online a pilot in house battery recycling factory. Before they were relying on third party recyclers. They said that the price of obtaining the metals from recycled batteries versus from the mine is cheaper by an order of magnitude of 10x to 100x depending on the metal. 

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Fudge Nuggets

Fudge Nuggets 19414

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13 hours ago, BLKNSTY said:

My suggestion would be if you have a dedicated, experienced, capable account manager that you would like to retain - eat the loss and trust that the account manager is capable of utilizing the discount for future gains. Never been a fan of micromanaging.

 

Otherwise you run the risk of losing a big client, losing a good employee with a significant amount of institutional knowledge to a competitor, and having to retrain a new employee who has a 75%+ chance of leaving you in less than two years. All while the whole market is upside down due to COVID. Yikes.

 

Other than that, fuck you pay me. Clients rarely remember negative shit as long as you do good work, employees on the other hand - remember that time you took food out of their mouth.

 

 

Sent from my iPhone using Tapatalk

That's a lot of words to say "Pass the buck, shirk responsibility and leave yourself an out if things go tits up."  Just messing with you, but it does have a tone of pawn it off on the direct report and be ready to throw them under the bus if it doesn't work.  Maybe I'm jaded from seeing it happen to colleagues way too often.

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BLKNSTY

BLKNSTY 289

Posted
Posted
That's a lot of words to say "Pass the buck, shirk responsibility and leave yourself an out if things go tits up."  Just messing with you, but it does have a tone of pawn it off on the direct report and be ready to throw them under the bus if it doesn't work.  Maybe I'm jaded from seeing it happen to colleagues way too often.

Nah, this whole exercise is focused on retaining the talent and not making a shitty situation worse. A good salesman/originator/account manager with technical experience and good contacts are very rare and are a recruiters wet dream (with the exception of O&G). Once a good employee starts thinking of greener pastures your in trouble.

If it was a shitty employee who somehow formed an unbreakable bond with the client, which I’ve come to find out is pretty common, might play it differently.

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washparkhorn

washparkhorn 9969

Posted
Posted

The Fed had a show of force today - and a united message:

Quote

In total, eight of 17 senior Fed officials spoke in public on Wednesday.

The one thing that Fed officials all agreed on is the need for more Congressional spending to support the economic recovery.

https://www.msn.com/en-us/money/markets/fed-officials-struggle-to-convince-investors-their-new-policy-strategy-will-be-helpful/ar-BB19lpEe

 

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Blotto

Blotto 23978

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Posted
4 hours ago, Eastwood said:

You get used to seeing green for so long that a day with a loss can sometimes be gut wrenching, but this is my first red day in a over week, so I can't complain.

Its probably all that GME profit thats been rolling in for you. I gotta give you credit on that one. I still don't believe there is any reason for that company to exist, I don't give a fuck who is on their board, but your comments from a few weeks ago proved to be spot on. 

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Eastwood

Eastwood 4394

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14 hours ago, Blotto said:

Its probably all that GME profit thats been rolling in for you. I gotta give you credit on that one. I still don't believe there is any reason for that company to exist, I don't give a fuck who is on their board, but your comments from a few weeks ago proved to be spot on. 

giphy.gif

Thanks. I bought in sub-5 and got my calls in around 7. Honestly, the way I stumbled onto that was using TDA's website to see what value stocks were floating around. The two that stuck out to me was IHRT, which I should have pulled the trigger on when it was sub 4, and surprisingly GME when taking cash on hand into account. I looked at the whole picture for GME and it wasn't pretty, at all. Of course, Scion Capital's name draws some attention, but what really caught my eye was the short interest at the time being 92% of float. Short squeezes happen with way less float and since then it has climbed to a whopping 135% with institutional ownership over 110%. That means shares have been borrowed to lend to other institutions. That's the type of compounding of risk that got banks in trouble with the credit default swaps. I'm not up on my world history of markets, but that has to be at historic levels of short interest. I really do feel that something historic is going to happen with this stock outside of its fundamentals, which are trash at the moment. So, I threw some money at it and I was up 123% before the bell today. I'm actually holding out hope for the squeeze through April of 2021, which is when they report holiday earnings. But very tempted to take a little profit here.

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