|
Noggin Monkey posted:Holy poo poo, that is such an inconceivable situation to be in. Not only is that guy getting fired, I'd wager that he is going to go to jail as well. Best part is he admitted everything online!
|
#
?
Jun 5, 2015 07:09
|
|
|
|
| # ? May 16, 2024 05:15 |
|
|
Noggin Monkey posted:Holy poo poo, that is such an inconceivable situation to be in. Not only is that guy getting fired, I'd wager that he is going to go to jail as well. Assuming the credit card policies are the same as the amex one I quoted the company will also be in deep poo poo for not following their own rules and failing to check for misuse. The upside of corporate cards is that they are supposed to be easy to monitor and control payments for the company. For the employee they usually collect points for the payments and get some minor benefits accordingly.
|
|
#
?
Jun 5, 2015 08:42
|
|
|
Zo posted:Yea i dont think most people would call that a corporate car. Company carD, not company car.
|
|
#
?
Jun 5, 2015 13:17
|
|
|
jaymeekae posted:Company carD, not company car. I had the same confusion until I realized he was talking about the content in e.g. Rudager's post where part of the reason this dude is racking up debt on the company car is because he's using it to pay for these cars he keeps breaking/wrecking, and saying that a car is required for his job but not provided. quote:My manager said point-blank that if I did not get a car within the week, there was nothing he could do for me. He stated clearly and explicitly that the company card could not be used for personal expenses, but he also mentioned that it would not be checked up on if it got paid in full each month.
|
|
#
?
Jun 5, 2015 14:28
|
|
|
Why would a car get written off after the engine breaking down after a month. This story makes no sense.
|
|
#
?
Jun 5, 2015 14:32
|
|
|
Rurutia posted:Why would a car get written off after the engine breaking down after a month. This story makes no sense. There is some pretty weird car poo poo going on there. He keeps referring to deposits, so it almost sounds like he's had some sort of insurance/warranty every time - but then he needs to scrounge another down payment. The engine going out after a month may have been covered under some kind of rudimentary used car lot warranty. Getting hit by a commercial truck at a stop light would have gone against the other driver/company and the 3rd accident paid off the loan, but left him with nothing to drive. So maybe his credit is so loving bad that he never has any equity in any of these vehicles so all the insurance does is clear the loan. And then he has to go through the same predatory loan process for another car. So he's never made fully whole after the accident and keeps sliding deeper and deeper into debt.
|
|
#
?
Jun 5, 2015 14:47
|
|
|
Only thing I can think of is that he hit something like a large rock that took out the oil pan and didn't pull over immediately. I had this happen to me but I pulled over within 10 seconds, turned the car off and fixed it on my dime but I'm sure I could have had insurance fix it, if I was willing to write the car off.
|
|
#
?
Jun 5, 2015 14:50
|
|
|
Rythe posted:Anybody have any stories or experience with Vector Marketing? My cousin, who is a sophomore in college, just asked to set up an appointment to sales pitch me some knives. After reading this thread for so long the alarm bells triggered. I went to one of their training sessions in college. I'd worked as a bag boy and at a car wash, and the job market around my college campus was flooded so in my ignorance I thought the $15/appointment ads might lead to something legit. They were written in a way that implied the company would give you the appointments. I have a longer writeup on it in my post history if anyone wants to look for it, but I'll post the highlights here: -They had us fill in the blanks in our training books. Presumably, this is so they can get around outright lying to you about various things. Such as how great the knives are and how poo poo legit knife makers like Henkel are. -At least half a dozen times during the training session someone would burst in through the door behind us and hold a phone aloft. They'd say something like, "Hey everyone, Sharon just called in and she made $500 in sales today! Lets give her a hand!" After the second or third time this happened I realized I had never heard the phone ring. -The guys running the session were pretty good at stringing the class along and telling stories, like the annual trip to the CutCo factory for the best salesmen. Ho ho, watch out for Bob in the lab he's a real riot because he cuts someone's tie each year, last year it was Doug right here haha right Doug? Also there is a machine there that places a piece of cardboard in front of a pair of CutCo scissors every second and it has been going for over a million seconds. -The manager sits with everyone and tells them what he likes, usually turning a huge sales negative into a positive. "You don't have any sales training so I don't have to worry about erasing the bad stuff you learned" or "It's OK that you don't speak English well, you can access communities we can't." -After the class they send everyone home and say, "Not everyone will make it, but we will call you after we get together to review you." Once everyone is separated they call everyone and tell them they got the job. They called me before my twenty minute bus ride was finished. -They teach you bullshit tricks like taking the handle of a wooden knife and dipping it in water then having the customer smell the water to see all the nasty stuff in the knife. But wood has antimicrobial properties so this is just for show. -Your cousin probably payed around $250 for the demo set. I'm a bit ashamed to admit that at first I was a little amped, but at the end of the session they had us write down the names of everyone we knew and then told us to consider them as a potential sale. I started realizing how ridiculous this was when I wrote down my hot redhead English teacher's name and envisioned myself trying to sell her knives. After relating the details above my friends mocked me until I looked up "CutCo scam" and saw the number of results. CutCo mostly works by granting some legitimacy to begging from your family. If you invite your cousin over then just give them cash directly, the commissions are horrible. Most salespeople make the rounds in their family and then discover that most people don't want to invite a stranger with a box full of knives into their home for a demonstration.
|
|
#
?
Jun 5, 2015 16:30
|
|
|
Ornamented Death posted:This setup makes no sense to me. There's literally no upside to using the corporate card unless you're an idiot that enjoys filling out expense reports and getting no benefit from it (which you've obviously figured out, this is aimed more at your employer). I have no idea what sort of access the company has to the corporate card. I have to fill out expense reports no matter what method of payment I use, so I use my Chase Sapphire Preferred so at least I get the points, and then I submit receipts and get reimbursed for work travel expenses. Thankfully, I travel like 2-3x a year, so it's not a big deal. But if you're in sales or a consultant, gently caress. I don't know.
|
|
#
?
Jun 5, 2015 17:08
|
|
|
Desuwa posted:Though I can see people using company cards for emergencies where it's the only way to pay and then getting it cleared up with the company later. What? If you're in a financial emergency, I think the last thing you'd want to do is rack up a bunch of personal charges on a corporate card and risk losing your job and paycheck.
|
|
#
?
Jun 5, 2015 17:11
|
|
|
HelloIAmYourHeart posted:Not Reddit, for a change: OP uses his company credit card for personal use, racks up $20k balance. I collected on business credit cards for a regional bank for several years. This happened moderately frequently. At least at our bank, the company was responsible for the whole balance, so they'd have to pay it, then fire the person or take it out of their check or whatever. It was several years ago so I'm not sure if I ever saw $20k, but it wouldn't surprise me.
|
|
#
?
Jun 5, 2015 17:15
|
|
|
Hey, at least he has a business card. I have a friend who is required to pay for all her corporate expenses and then get reimbursed. Not unusual you say? In an one week period she had to fly to Germany, California, and Argentina. And then HR forgot to push a button and no one in the company got paid for a month.
|
|
#
?
Jun 5, 2015 17:46
|
|
|
Omne posted:I have no idea what sort of access the company has to the corporate card. I have to fill out expense reports no matter what method of payment I use, so I use my Chase Sapphire Preferred so at least I get the points, and then I submit receipts and get reimbursed for work travel expenses. Thankfully, I travel like 2-3x a year, so it's not a big deal. But if you're in sales or a consultant, gently caress. I don't know. I put hundreds of hotel stays and travel expenses through a year and do it exactly the same way. Rewards cards out the wazoo. Monday mornings weekly expenses reports are a bitch though.
|
|
#
?
Jun 5, 2015 17:55
|
|
|
Krispy Kareem posted:Hey, at least he has a business card. I have a friend who is required to pay for all her corporate expenses and then get reimbursed. Not unusual you say? In an one week period she had to fly to Germany, California, and Argentina. Sounds like a dream come true. So many points.
|
|
#
?
Jun 5, 2015 18:05
|
|
|
http://www.slate.com/articles/business/the_bills/2015/06/personal_budgets_are_overrated_seriously.single.htmlSlate posted:As for actual budgets? They offer the illusion, not the reality, of financial control. If you don’t have enough money coming in, they won’t make it better. Things like salary increases, more predictable income, and further health insurance reform—or even legislation putting a cap on balance billing—will help us with our finances more than any budgeting app or formal plan. Bad with money is getting financial advice from clickbaity headlines. Budgets don't work in the same way that diets don't work.
|
|
#
?
Jun 5, 2015 20:34
|
|
|
RussianBear posted:http://www.slate.com/articles/business/the_bills/2015/06/personal_budgets_are_overrated_seriously.single.html "If you don't live within your means, there is no way for a budget to help you!" No poo poo.
|
|
#
?
Jun 5, 2015 21:20
|
|
|
Well, just like diets, it's common sense that almost no one follows. Some of the best advice I've ever received was "pay yourself first," meaning save a portion of your income before you buy anything. Then only spend what's left. Never had a budget, have a seven figure net worth anyway. (That's not a humblebrag, I look down upon you Corolla-driving peasants with no humility whatsoever.)
|
|
#
?
Jun 5, 2015 22:02
|
|
|
High Lord Elbow posted:Well, just like diets, it's common sense that almost no one follows. Some of the best advice I've ever received was "pay yourself first," meaning save a portion of your income before you buy anything. Then only spend what's left. Never had a budget, have a seven figure net worth anyway. Yeah, but all your assets were equine and they just saw a spider and died.
|
|
#
?
Jun 5, 2015 22:06
|
|
|
Krispy Kareem posted:Yeah, but all your assets were equine and they just saw a spider and died. Nah, they're in bitcoin and someone just saw them and they got stolen.
|
|
#
?
Jun 5, 2015 22:37
|
|
|
About mlm schemes: Last summer one of my college acquaintances gave my phone number to their boss at vector. He recieved a very nasty email from me about sharing my personal info, but over the summer he sold $5000 of knives to his close friends and family and took a greyhound to some workshop and participated in their leadership Academy. He is an idiot
|
|
#
?
Jun 6, 2015 00:53
|
|
|
Henrik Zetterberg posted:What? If you're in a financial emergency, I think the last thing you'd want to do is rack up a bunch of personal charges on a corporate card and risk losing your job and paycheck. I should have been clearer, I meant an emergency in the sense of a medical or travel emergency where you're unable to pay otherwise. I can't see that happening to me since I have a healthy emergency fund and don't carry balances on my cards but I can see someone being able to afford something absolutely vital but being unable to pay immediately.
|
|
#
?
Jun 6, 2015 01:52
|
|
|
Before I worked for my company they had a guy who used his company card to tip like $100+ on $50 dinners, go to strip clubs on it, bullshit like that. Eventually the boss found out/paid attention and he agreed to take out a personal loan for like $7000 to pay it back. The boss cosigned the loan and when it was found out that the guy was running his own little business under our company's nose doing the exact same thing as ours* and stealing several customers/vendors/jobs while two-timing, he was obviously fired. He stopped paying that personal loan and guess who is on the hook for it after that! *His website's "about us" was even identical to ours but he find-and-replaced "Company A" name references with "Company B". It was so stupid. I wasn't there for this, and don't have a 100% understanding on it so this might not make total sense but this was the gist of it that I got.
|
|
#
?
Jun 6, 2015 02:26
|
|
|
Desuwa posted:Also isn't using a credit card to pay off the balance of a credit card, especially itself, illegal? No matter how indirectly you do it? quote:In order for prosecution to occur in a credit card kiting scheme, a bank must prove intent to deceive.[1] Eq seq reference infers paying credit card minimum balances with credit card proceeds is de facto evidence of deceit. Even if it wasn't illegal, it's still against the Paypal TOS in what appears to be a lot of ways. quote:9.1 Restricted Activities. In connection with your use of our website, your Account, the PayPal Services, or in the course of your interactions with PayPal, other Users, or third parties, you will not: quote:10.1 Your Liability.  I'm certain it violates every credit card company's TOS since it isn't charged as an advance which is usually given a higher interest rate. He could easily end up having the card issuer notified by PayPal about it and get the account closed for TOS violations at a bare minimum. Edit: I didn't even catch this on the first read through, how is this not some kind of regular ol' fraud? quote:The short version of the story is that I genuinely misunderstood the way my corporate credit card was to be used. quote:He stated clearly and explicitly that the company card could not be used for personal expenses ladyweapon fucked around with this message at 03:35 on Jun 6, 2015 |
|
#
?
Jun 6, 2015 03:14
|
|
|
Desuwa posted:I should have been clearer, I meant an emergency in the sense of a medical or travel emergency where you're unable to pay otherwise.
|
|
#
?
Jun 6, 2015 06:28
|
|
|
I just went to a high end car auction and saw so much bad with money stuff that it was amazing. The best was one car just had $420,000 "invested" into a grounds up restoration...it sold for $120k. Also, for entrepreneurial talk. I started my first company a year out of college and it did reasonably well. Did two more that bombed. Realized I needed some real world experience so I joined an industry I actually had a passion for (games), became really really good at a niche part of that industry for 4 years, and started my own company again last year doing that niche thing I'm really good at. It's doing better than I could have possibly dreamed of, but I pretty carefully planned this one out. I think just starting a business out of college is like a lotto ticket.
|
|
#
?
Jun 6, 2015 23:22
|
|
|
Barry posted:Sounds like a dream come true. So many points. I travel for a living, use my own rewards card and then get reimbursed by my company, and I can confirm that indeed, so many points.
|
|
#
?
Jun 7, 2015 02:08
|
|
|
I got so many frequent flyer miles when I'd travel regularly for business since we always flew out of the tiny regional airport near the office so each trip was at least two legs in each direction. It was a bittersweet day I lost my AAdvantage status. On one hand yay not traveling as much, on the other I now have to board with the rest of the plebeians and no longer get free first class upgrades.
|
|
#
?
Jun 7, 2015 03:25
|
|
|
Aquatic Giraffe posted:It was a bittersweet day I lost my AAdvantage status. On one hand yay not traveling as much, on the other I now have to board with the rest of the plebeians and no longer get free first class upgrades.
|
|
#
?
Jun 7, 2015 14:15
|
|
|
Taking my son on his first flight (infant in arms) before he turns 2. Kind of fun having enough miles racked up to book a weekend flight back to my parents place for Father's Day without caring about ticket price. I still live in the torture range forever stuck in Silver medallion. I fly enough that each year I miss gold by like 5000 miles. Nice that I don't fly that much but sucks that I don't get as many first class upgrades. Flying places for work definitely forces you to create weird habits. Mine are pretty GWM. Expensive dinners paid for by vendors, sky club paid for by work, and I travel with my backpack only. I rarely buy anything myself on travel.
|
|
#
?
Jun 8, 2015 14:13
|
|
|
dietcokefiend posted:Taking my son on his first flight (infant in arms) before he turns 2. Kind of fun having enough miles racked up to book a weekend flight back to my parents place for Father's Day without caring about ticket price. How do you pack work clothes in a backpack?
|
|
#
?
Jun 8, 2015 14:18
|
|
|
Ahmed Zayat, the owner of American Pharoah that won the Triple Crown, seems to be a Bad With Money king but somehow pulls it off. Here's his "Triple Crown": First we have a business plan that really thinks outside the box: quote:First, Mr. Zayat had to take the idea of selling beer to Muslims to international investors in an effort to raise $70 million. It was not even good beer — its flagship brand varied from one batch to another, and a common joke was that it could power heavy machinery if there was no diesel fuel available. Second, a severe ongoing gambling problem: quote:In Mr. Zayat’s name, the stable also paid $1.2 million to New Jersey Account Wagering, $350,000 to the Las Vegas Sands, $150,000 to the Palms Casino and Resort and $100,000 to NHPlay.com, an account wagering platform for horse racing. And third, horse equity. quote:Jeff Seder, a bloodstock agent, told Mr. Zayat in 2013, "sell your house, don't sell this horse," referring to American Pharoah. quote:Fifth Third Bank said Zayat Stables had defaulted on more than $34 million in loans it made to Mr. Zayat while his stable lost more than $52 million from 2006 to 2008. It also claimed that Mr. Zayat did not disclose a previous personal bankruptcy under the name Ephraim David Zayat and that he withdrew more than $2 million from stable accounts, in addition to a salary of $650,000, in the year before the bankruptcy filing. quote:As his stable ballooned to 250 horses, Mr. Zayat both wowed and wore on people. He hired and then fired Bob Baffert, the Hall of Fame trainer of American Pharoah, and he moved horses from one barn to another on what appeared to be a whim. From the article, Ahmed Zayat’s Journey: Bankruptcy and Big Bets (sorry for New York Times link that might be behind paywall)
|
|
#
?
Jun 8, 2015 14:18
|
|
|
No Butt Stuff posted:How do you pack work clothes in a backpack? I work on the press/analyst side in the tech industry. Work clothes are blue jeans and button up shirts. Casual sometimes covers sweat pants for some guys in this field.
|
|
#
?
Jun 8, 2015 14:40
|
|
|
No Butt Stuff posted:How do you pack work clothes in a backpack? I used to do 2 and 3 night trips out of an Arcteryx Blade 30 backpack and that included laptop, workout clothes, and "nice" work clothes meaning chinos, button-down, jacket, and dress shoes or boots. Then I have what's basically a laptop sleeve with a shoulder strap so that's what goes on to the client's office. Fits into the smallest of commuter overheads. Packing cubes are great.
|
|
#
?
Jun 8, 2015 15:04
|
|
|
dietcokefiend posted:Taking my son on his first flight (infant in arms) before he turns 2. Kind of fun having enough miles racked up to book a weekend flight back to my parents place for Father's Day without caring about ticket price. If you're consistently like 5k short, you should pick up one of the Delta cards that gives MQM. Like right now the Platinum gives 10k as part of the initial spend bonus and 10k after spending $25k. I don't think the AF is waived but if you fly Delta a lot and can spend for work on your own credit card it's probably worth it. e: This is assuming you'd reach the qualifying dollars as well. Barry fucked around with this message at 15:14 on Jun 8, 2015 |
|
#
?
Jun 8, 2015 15:11
|
|
|
Unfortunately you can only do this once in your American Express lifetime. You used to be able to switch from a personal card to a business card every year and get the bonus again but they removed that. I learned the hard way.
|
|
#
?
Jun 8, 2015 15:52
|
|
|
Yeah, that change was a kick in the nuts. Even so, if you travel enough for work to be able to get Gold status on Delta and can charge everything to your own card, I would imagine between work and personal it wouldn't be very hard to get that $25k of spend for 10k of MQM's per year. The perks of Delta Platinum over Gold is well worth paying the $195 AF.
|
|
#
?
Jun 8, 2015 16:50
|
|
|
How does a person know the mileage game and not make some mileage runs to get that gold status? Gold used to be INSANE on airlines. Silver was a 50% mileage bonus, Gold gave 100% on all but the oddest of fare classes. I was flying 60K BIS miles a year, racking up 120K. Plus, SPG points for hotel stays. Precious, precious SPG points on my hotel stays. Being allowed to pay for those on my own CC and expense them was incredible. From what I remember, Delta fired the first shot in the erosion of tier rewards when they took away the status booking lines and expedited security lines from silver. A few years later, here we are-- gold barely means poo poo anymore on any airline. Now I'm getting all nostalgic for SAN > LAX > SFO > PDX > SEA routings which would rack up over 4k miles round trip BIS, 8k award miles. RIP miles game.
|
|
#
?
Jun 8, 2015 17:33
|
|
|
Man, doing a 4 leg voyage for what would be less than a 3 hour flight might be Good With Miles, but definitely Bad With Sanity. 5x as many opportunities for something to go wrong as well.
|
|
#
?
Jun 8, 2015 17:44
|
|
|
Barry posted:Man, doing a 4 leg voyage for what would be less than a 3 hour flight might be Good With Miles, but definitely Bad With Sanity. 5x as many opportunities for something to go wrong as well.
|
|
#
?
Jun 8, 2015 19:27
|
|
|
|
| # ? May 16, 2024 05:15 |
|
|
Blinkman987 posted:How does a person know the mileage game and not make some mileage runs to get that gold status? As a DM, I'm glad they're cutting perks for lower tiers. Sky Priority boarding got absurd.
|
|
#
?
Jun 8, 2015 19:40
|
|
