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Business, Economics, and Taxes: Capitalism. Yay? >=(

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dxmnkd316 said:
Sounds like they refloated it about an hour or two ago. Favorable tides. No word on reopening.
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Not so fast.

Engineers on Monday “partially refloated” the colossal container ship that continues to block traffic through the Suez Canal, authorities said, without providing further details about when the vessel would be set free.

Satellite data from MarineTraffic.com showed that the ship’s bulbous bow, once lodged deep in the canal’s eastern bank, had been partly wrested from the shore — although it remained stuck at the canal’s edge. The ship’s stern had swung around and was now in the the middle of the waterway, tracking data showed.

Although the development marked the vessel’s most significant movement since getting stuck last week, the salvage crew urged caution as obstacles loomed.

“Don’t cheer too soon,” Peter Berdowski, CEO of Boskalis, the salvage firm hired to extract the Ever Given, told Dutch NPO Radio 1.

Last Tuesday, the skyscraper-sized Ever Given got stuck sideways in the crucial waterway, creating a massive traffic jam. The obstruction has held up $9 billion each day in global trade and strained supply chains already burdened by the coronavirus pandemic. At least 367 vessels, carrying everything from crude oil to cattle, were still waiting to pass through the canal, while dozens were taking the alternate route around the Cape of Good Hope at Africa’s southern tip — a detour that adds some two weeks to journeys and costs ships hundreds of thousands of dollars in fuel and other costs.

With canal transits stopped, Egypt already has lost over $95 million in revenue, according to the data firm Refinitiv. If the ship is freed in the next few days, clearing the backlog of ships already waiting to pass through the canal would take at least 10 days, Refinitiv added.

The partial freeing of the vessel came after intensive efforts to push and pull the vessel with 10 tugboats when the full moon brought spring tide, canal services firm Leth Agencies said, raising the canal’s water level and hopes for a breakthrough. Videos shared widely on social media showed tugboats in the canal sounding their horns in celebration of the Ever Given being partly wrenched from the shore.

However, the rescue team said the ship’s bow remained stuck in the sandy clay at the canal’s edge.

“The good news is that the stern is free but we saw that as the simplest part of the job,” said Berdowski, noting that the toughest challenge remained at the front of the ship, where workers would struggle to haul the fully laden 220,000-ton vessel over the clay of the canal bank.

An official at Shoei Kisen Kaisha Ltd., the company that owns the Ever Given, confirmed the vessel’s bow had moved slightly, but warned the bottom of the ship was still touching the seafloor. The official spoke on condition of anonymity due to the sensitivity of the issue.
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Egypt should think about kiddie bowling in regards to the Suez Canal, add some bumpers along the gutters, er, banks and the ships won’t lodge into the sands. And it’ll serve as a nice FU reminder to the Evergreen company.
 
Calls of Delta boycott starting.

I don’t like idea of hurting all the people who helped elect the two senators.

on the other hand, economic consequences can drive action and these assholes need to stop being funded
 
Deutsche Gopher Fan said:
Calls of Delta boycott starting.

I don’t like idea of hurting all the people who helped elect the two senators.

on the other hand, economic consequences can drive action and these *******s need to stop being funded
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Not sure what the logic was behind the internal announcement. I'm guessing there must've been rumblings from employees on their involvement and so the C-suite was forced to try and spin it as, "Well, you see we heard the first draft of this law really sucked a55, so we stepped in to actually help make it less putrid..."
 
Question- anyone here knowledgeable about the loophole for high earners to contribute to a Roth IRA?
I have a stupid regular ira with Edward Jones I’m going to yank (rolled over a precious 401k plan into it years ago) and I’m trying to figure out how to do a Roth. I read about how you can contribute to a traditional ira ans then convert- but if my income is too high to make contributions next year, how to you keep putting money in it?

i make just too much to be able to contribute but I’m not rolling in money either .
 
Deutsche Gopher Fan said:
Question- anyone here knowledgeable about the loophole for high earners to contribute to a Roth IRA?
I have a stupid regular ira with Edward Jones I’m going to yank (rolled over a precious 401k plan into it years ago) and I’m trying to figure out how to do a Roth. I read about how you can contribute to a traditional ira ans then convert- but if my income is too high to make contributions next year, how to you keep putting money in it?

i make just too much to be able to contribute but I’m not rolling in money either .
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https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/

The above is the best explanation I have found online. It is easy if you can have 0 in your traditional IRA. If not, it can get complicated.
 
Yeah. Be super careful about backdoor Roth's. They can fuck you bad if you aren't careful. Any advisor who doesn't warn you about what mns said is a dangerously incompetent advisor.
 
dxmnkd316 said:
Yeah. Be super careful about backdoor Roth's. They can fuck you bad if you aren't careful. Any advisor who doesn't warn you about what mns said is a dangerously incompetent advisor.
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What mns said? I can’t see that reply. Huh.
 
dxmnkd316 said:
Ah ****. WW.

I have literally no idea how I managed that.
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I don’t want an “advisor” because I think many are crap. I have a few colleagues with deep finance background I trust; I also have a tax accountant that I will run everything by.
 
Deutsche Gopher Fan said:
I don’t want an “advisor” because I think many are crap. I have a few colleagues with deep finance background I trust; I also have a tax accountant that I will run everything by.
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My brother would be a great resource whole-heartedly, but I would fully get it if you felt like going elsewhere. But financially I would trust him with my all I have.
 
Slap Shot said:
My brother would be a great resource whole-heartedly, but I would fully get it if you felt like going elsewhere. But financially I would trust him with my all I have.
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What does he do? I’d be interested in chatting
 
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