One of the things I love the most about October is that with October comes pumpkin flavored everything. Today one of my coworkers brought in a bunch of muffins, some of which were pumpkin flavored. Last week I went to Starbucks and they had their seasonal pumpkin syrup (most people put this into lattes, but since I don’t drink coffee I add it to steamed non-fat milk with a couple of splendas–it takes just like liquid pumpkin pie). I also plan to make it a point to go to the Cheesecake Factory this month, as they have pumpkin pie cheesecake (this is a great thing to bring to a party if you have a potluck or some other similar gathering to attend this month).
It is fall again in Seattle and summer is officially coming to a close. The other morning when I stepped outside there was the classic Seattle mist in the air and I could smell the faint scent of my conditioner and perfume. In the moment I took a few deep breaths into the cold air and I can honestly say it made me feel so alive. I guess it is hard to explain but in that moment it was as if everything came into the crystal clear perspective. I just know this year is going to be a big year.
There is so much turmoil going on with the economy and while so many people are frenetic and stressed I feel hopeful and optimistic. At work a lot of people were talking about the economy and the bill that didn’t get through congress. I am still not sure how I feel about the bill–the more I read the more on the fence I am about the issue. It is obviously controversial, and I don’t think anyone can even guess how it would end up playing out in the end. It is definitely a major turning point for our country and I really hope we end up in a better place because of it.
I hope everyone is doing okay in spite of all of the economic turmoil.
On a side note, here are some links to two pumpkin recipes I want to try. No one is interested in the pumpkin pasta so I am currently recruiting people to come over and eat it with me–I think it sounds really good.
Penne Pumpkin Pasta
Pumpkin Whoopie Pies
I subscribe to a lot of newsletters. My email box is filled with around 25-35 new emails messages daily that come from various shopping sites to which I subscribe (you get advance notice of sales, coupons, etc), and a few other select sites. One of those sites is The Ladders. I used this site when I was helping a friend of mine look for a new job (it is a site used to search for $100k+ jobs). And while I don’t advocate working for someone else, this site and their newsletters has some of the best career advice out there.
Today one thing that caught my attention was an article written about creating your own brand. The author talks about building your brand and reputation both online and offline. He emphasizes the importance of being an expert, and making yourself known–networking is about quality not quantity:
Focus on real world interaction with people. Have the kind of conversations that will make people remember you, not run the other direction because you are hounding them. Be genuine. Be thoughtful. Find ways you can help people as much as they can help you. These tenets may seem natural to some, foreign to others, but in any case, they will go a long way in building your brand.
The thing I liked most about the article is that it gave some some useful tools and advice, namely:
- Get involved in your trade–speak at panels, attend networking events, write articles, etc.
- Build your network in a good way (not just collecting business cards)
- Even when you are working for your company think about how your contacts and interactions can work for you and your reputation
- Be memorable
In general I don’t think I am very good at these things. I am clumsy in social settings and I tend to be so focused on the task at hand I seldom think about myself in a larger capacity. Though to really use this advice I need to think through it all a bit more.
One thing though, is that is also made me think about my website and the fact that everything I write about is all over the board. I sometimes feel like I am not really an expert in anything I am just kind of good at a lot of things. Furthermore, I think I have so many interests and hobbies there isn’t one thing I am entirely focused on. I had originally hoped to move this site in a more concrete direction–focused on fashion and finance–since those are the things that interest me most but my entries are all over the board on everything I feel is worth sharing with the world. I will have to spend some time thinking about this too! Lots of food for thought!
Hope you enjoy the article (and there is lots of other good articles in the career advice section–I would strongly recommend checking it out).
For those of you who want to learn more about the credit crisis and how we got there here is a link to an NPR broadcast that does a great job breaking it down so it is easy to wrap your head around it:
Listen to the show: http://www.thislife.org/Radio_Episode.aspx?sched=1242
Read the transcript: http://www.thislife.org/extras/radio/355_transcript.pdf
Also here is a good graph that depicts the history of home prices and how things were affected from the aggressive lending: http://www.nytimes.com/imagepages/2006/08/26/weekinreview/27leon_graph2.html
I was reading an article last night that was on on cnn money, that said go ahead and get mad about the bailout, but then feel comfort in the fact that things would be much more painful without it (which may very well be true). But to be honest, I am really frustrated for a couple of reasons–I feel completely powerless to change the decisions, it is going to impact me in a negative way.
There are two parties that can benefit from the bailout–the rich wall street bankers or the reckless homeowners. It seems like every article you read is looking for someone to blame. Of course it is easy to look at the incredibly wealthy executives with the golden parachutes and think that their greed finally got up with them. Part of me thinks they are to blame and should suffer for the risks they took–after all isn’t that what the whole free market is about? You take risks and sometimes they pay out (everyone knows about the big paychecks and bonuses the guys on wall street received year after year), and sometimes they don’t (when your risks don’t pan out). It only makes sense those people should be responsible for these losses. Of course I am slightly jealous of these people. I am all for saving our economy, but I think we should figure out a way where these people could have hiring taxation or should have to help pay for some of the losses from their risks. Of course, I would love to one day be able to have a job like that–when I can work hard I can really be rewarded for that hard work.
Here is a good blog post that lays out some rules for the bailout that helps with the richer side of the story. All of the rules seem really fair and seem to place blame on some of the people who made the hefty profits.
Other people look at the poor reckless homeowners that are losing their homes and think they need rescuing and should be the recipients of the payout. In some ways that makes me even more mad. if you listen closely to each of these stories, there is almost always some track record of irresponsible spending, people living beyond their means. These people took out loans they knew they couldn’t afford–many of them bought mountains of junk (the reckless consumerism that plagues our society), many took expensive vacations, and some leveraged their investments on speculation hoping to make some easy money. Why should these people be saved? The only family I know who could be considered one of these victims certainly spent their way into their problems. The wife has a nanny and doesn’t work, the husband wears a rolex. They eat at the most expensive Seattle restaurants and have two brand new cars. Every time I would talk to them they were buying something new. In my (perhaps heartless) opinion these people deserve to lost their home. They should have made sacrifices, not bought so many new things, and saved money. Didn’t live a champagne lifestyle they could not afford. Of course it is easy to feel sorry for someone who is losing their home, but it is hard for me to blame a mortgage broker for giving them a loan–it is much easier for me to blame the people for their exuberant lifestyle.
So that leaves the people who have been living within their means, working hard, and trying to get ahead–those people are the real victims in this whole scandal. It makes me sad that this is the way things shake out. I know life isn’t fair and I truly hope that when all is said and done the government will think about the responsible citizens.
Just my $0.02.
This weekend was really busy–on Friday we had an impromptu dinner party where we grilled burgers and had a great orzo salad. It had olives, toasted pine nuts, broccoli spears, artichoke hearts, and feta cheese. I am going to get the recipe and post it in the comments. I also made a great blackberry crumble–it was so easy just frozen fruit, some oatmeal, brown sugar, flour and butter. All of the great food makes me want to have a pot luck–one where everyone has to bring a recipe and share it with everyone else 
On Saturday I went and indulged in my retail therapy with lots of shopping. We went to the new Southcenter mall. May favorite part of the trip was when we went to Red Mango. We were able to eat their frozen yogurt (I had mine with coconut)–a small is only 80 calories. It is a lot like Pinkberry in Los Angeles. Then I had a fun night with my girlfriends dancing and club hopping in Belltown (I hadn’t gone out like that in 6 months so it was a nice change of pace).
And today we made some great scrambled eggs, then we went car shopping. We aren’t sure what (if anything) we want to get, but it is always fun to go and test drive new cars. Then we had dinner with some new friends at Tamarind Tree in Seattle’s international district. Then it was family time and a great end to the night with an episode of Entourage.
So on Saturday I had to return some things to Nordstrom and Nordstrom Rack. While at the Rack I found a great pair of boots. They are soft brown leather and come all the way up to the knee (like the ones in the picture but they are brown leather instead of black suede). They are quite comfortable and made by a company called Bolo. I had never heard of them before but they were marked down from $506 to $189 so I thought they were cute and a pretty good deal.
All in all it was a good weekend. I tried not to work too much, but hopefully this week will turn out to be very productive.
Over the past month or so we have been hearing about big banks failing under the credit crisis (you can’t really call it a mortgage crisis anymore). Merill Lynch, Lehman Brothers, Washington Mutual all have suffered headlining losses. Now there are rumors that Morgan Stanley and Wachovia are next (and possibly Goldman Sachs). We know more bank failures are on the horizon:
Bankruptcy guru Wilbur Ross predicted on CNBC that 1,000 regional banks could fail. Other economists pegged the looming failures at 50 to 300 regional banks. (source)
Many economists are predicting bad things but I am trying to stay optimistic (finding global data on what is really going on is actually *really* hard to do!). However, history has shown that even in down times there are still good stocks to buy and a bear market can mean opportunity for those who are willing to stick their neck out and take advantage of it. So what does this mean for you? Should you be worried?
To figure that out I went through most of the things on people’s minds and tried to address each one:
- Savings Accounts. Make sure that you don’t have more money in any one institution beyond the amount that is FDIC insured ($100,000 generally).
- Financial Stocks. If you own stock in any of these troubled banks it will be unlikely you will likely be unable to recoup your shares if they go bankrupt (the stock price decreases until it is less than $1 then after 30 days at that threshold it will be moved off the NYSE, etc–and regular common shareholders end are the last ones to be paid out). If I owned shares in these places I would consider selling them now–my guess it buying them will still be a bargain towards the end of the year as most investors will be gun shy about putting there money back into these big banks. A lot of mutual funds had stock in many financial institutions so it is likely your funds may be suffering. If that is the case, just hold tight I have no doubt the fund managers are scrambling to adjust the funds (and if you have an index fund, well at least you know you won’t do worse than the market!).
- Stocks. If you have stocks you might be best to just hold tight. We are entering unknown territory and while it is likely index stocks will trend downwards, buying a good company is always a smart move. This could be a great time for great deals. But it is not necessarily the best time to sell–things are too volatile so if you don’t need the money within the year you are probably best to hold tight and ride out the storm.
- Your home. Keep paying your mortgage. Even if your lender fails there is a good chance your debt will be sold to another institution. As far as home prices, just hold tight–it looks like there might not be much appreciation in home prices, but the lower mortgage rates will probably even out the housing market some. I still don’t think real estate is a great investment yet, but for the most part shelter is always a worthwhile investment so as long as you can afford your mortgage you should just hold tight.
- Retirement accounts. If you are not close to retirement age, and are properly diversified (I should write a post on how to do this–but if you don’t know how you should do some research or ask for help) then you should resist the urge to look at your account. It is protected even if your institution fails and looking at it everyday is only going to stress you out. Ride it out and remember that even severe decreases seem insignificant over time.
- Credit cards. Even if you bank goes under you should still keep paying. The debt will likely be transferred to another institution. This should be obvious, but I figured I would point it out just in case.
- Insurance. Even though AIG failed, the consumer arm was never in trouble. For the most part you are probably okay here, since even if your provider fails there are some fail safes and it will go to a state regulator. I don’t know much about these insurance policies though so you should really check with your carrier.
- Budget. Spend less, save more. You should be doing this anyway, but as the economy moves into troubled times trying to save money and be frugal is always a good move. This is probably the biggest concern for most people since recessions can mean less jobs and having a good safety cushion is important to handle anything that is unexpected.
Did I miss anything? Feel free to leave it in the comments!
I decided next month I am going to start taking the bus to work. Normally this hasn’t been an option in the past because my hours were too long. However, as I am going on vacation next month (yay!) it just wouldn’t make sense to pay for a whole month of parking. This gives me an excuse to cut my commute in half and start taking the bus. I am hopeful that taking the bus will allow me to read, save money on gas, save money on parking (instead of paying $8.50/day for parking I can pay $5/day for bus fare (it is $2.50 each way, but I am hoping it will actually be less to take the bus if I buy ride coupons).
In order to take the bus though, I have to start getting up early to make it to the bus stop. As I have been trying to workout in the morning I have been doing an alright job getting up around 6:30-7am, doing a 45 minutes workout and then showering and getting ready (which takes about 45 minutes or so). Needless to say I want to get more efficient with my time. So I have some options–skip working out in the morning (not my preference), take less time getting ready (need to figure out how to do this), and get up earlier.
I figure I need to get up promptly at 5:45 or so, go workout and then be in the shower by 6:45am. Here are the things I am doing now to get ready:
- Setting my alarm at the appointed time
- Resolving to actually get up when the alarm goes off (I love the snooze button–it is like a little magnet for my finger)
- Paring down my morning routine (you always read about double duty products so maybe it gives me an excuse to try some of those)
- Blow drying and styling less–chignons and french twists more (my long hair seriously takes forever to coif)
- Picking out my clothes the night before (sometimes I can get lost in my closet trying on outfit after outfit–Lucky Magazine’s (October issue) letter to the editor suggested just wearing the first thing you put on, so they may also be another time saving technique)
- Streamlining my handbag, laptop bag, pile of stuff I carry to work. (This deserves a whole post in itself–how to organize your bags so like a girl scout you are prepared (to me this means carrying things like dental floss, advil, lotion, perfume, etc) but everything is neat and pulled together)
- Investigating bus schedules and bus coupons
- Locating a mani/pedi place close to the bus stop (since I used to go after work I have a place I drive to downtown, now I need a new place closer to where I will park my car)
Any other ideas? Suggestions?
Recently there seems to be a slew of new websites popping up that offer high fashion at low prices. So I have two great finds for this post (and I have made purchases on both sites):
- Ideeli – this is an online auction where they sell a deeply discounted item daily. They will send you an email notice and you have a set amount of time (or until they run out) to buy that item (this is a lot like SteepAndCheap which does the same thing with sports equipment and outdoor gear). You can pay an annual membership and shop the sales an hour early (which I am waiting to do until I find something truly great). I have bought a watch (it was a $600 watch, and I paid $135 for it) and it arrived promptly (note that when I made this purchase you had to have the same shipping and billing address). They have big ticket items like Prada bags, Dior sunglasses, etc. It is pretty hit and miss, and sometimes the good things disappear quickly, but every once and while you can find a really great bargain. However, everything is final sale so make your purchases carefully. (BTW, I have no idea how they source their supply–it could be last season’s or last year’s items–or maybe it is just a special deal)
- RueLaLa - this site is like an online sample sale. Once every couple of days or so they sell a few items from one brand in a little boutique. I have seen clothes from BCBG Max Azaria, outwear from Ugg Australia, and lingerie from Cosabella as some sample boutiques. I have also seen them list high end household items like cooking wear, and I purchased some sheets. They have a 30 day return policy for all items and I was impressed with the high quality packaging (and prompt arrival of my purchase). The only thing is, if you don’t buy quickly you are out of luck, things sell out really fast. (I also don’t know how they stock their merchandise, but it also tends to be a pretty good deal–usually around 50% off).
PS: There is also a site called Gilt Groupe that was founded by at least one graduate from Harvard Business School (if I recall correctly) but I have been much less impressed with their site and found it hard to use and not the best experience, so I am not listing it here.
In exactly one month from today I will be frolicking on the beaches of Hawaii. The people who are close to me know that I seldom take time off work (it is in my nature to work all the time and I have consistently had a hard time taking time off and traveling–much to my dismay), so this is kind of a big deal. I am already planning a list of books to read while I am there (reading on the beach is by far one of my favorite things in the whole world). Needless to say, I am very excited about the trip. The only part that I am dreading–the swimsuit.
My workout/diet regimen
Current weight: 129 pounds
I need to get in shape.
I have been doing pretty well working out recently. I have been consistent at averaging 5 days per week of exercise of at least 45 minutes. I have been eating a little more though, because I have felt hungrier. The last two weeks at work (especially this week) have been really stressful too–and I am emotional eater so I tend to crave sugar and candy when the stressful times roll around. I have been doing my best to curb those cravings but I wouldn’t claim that I have been doing a good job.
I came across this article on about emotional eating (I think it was in Good Housekeeping, but I can’t be sure since it was in some random magazine I picked up at the nail salon). It was saying that one of the biggest problems emotional eaters have is they don’t enjoy food. They don’t savor it or really love it–they just mindlessly eat it. Now I am trying to be a bit more mindful of my meals and snacks. I eat almost everything while I am doing something else–surfing the internet, working, walking, talking, etc. I never really think much about what I am putting in my mouth. Maybe if you take the time to think about it you will just end up eating less because you are too busy to spare much time.
My workouts are going well though because I found a trick that is actually making me not want to miss a workout. I purchased the series of Gossip Girl Season 1 on DVD
. I am sooo addicted. I love that show; it is such a guilty pleasure. Each episode without commercials is about 40 minutes–a perfect amount of time for cardio. When I have had time I have even watched 2 episodes back to back, which means I have logged a couple of extra long workouts this week.
Since I have only 4 weeks and a goal (to feel great in a swimsuit) I am on a major diet kick right now. I am doing low-carb with some fruit (Honeycrisp apples are in season and they are one of my favorite things so I can’t give them up) for the next 4 weeks. I am hoping if I can stay strict I will be able to get down another 8 pounds. Wish me luck.
I am a big fan of working globally. I love the way technology has revolutionized the way we can manage our teams and you can find the right people with the right skillset when you need it. There are lots of great tools that have been developed that allow desktop sharing and collaboration. Both WebEx and GoToMeeting are pay-for-services I have used in the past–being able to show your desktop and share your environment is a great way of doing remote presentations and demos. Recently I came across Adobe’s ConnectNow–which is a lot like the other two services, but has one major advantage–it is free. And unlikely some of the other desktop sharing programs it works equally well on both Macs and PCs since it leverages Adobe’s flash technology.
Check it out, it is very cool!
No.
Not long ago I wrote my thoughts on real esate and where I thought we were headed. I articulated my concerns and researched data to support my arguments. However, I have come across a lot of individuals and propaganda that tell me “Oh no, Kate, now is the best time to buy.” Since I like buying things (shopping is one of my favoriate past times afterall) and I have been wanting to do more real estate investing (REI), I started to wonder if maybe they were right. Maybe I was wrong. Maybe we had hit the bottom. So tonight I went ona quest to uncover some numbers and determine if it really was a good time to buy.
No, it is not.
Here is some information I found:
* Caveats: Keep in mind for those readers not in Seattle, most of of my research us for this area and surroundings–and like all decisions, it is your job to do research and make the best decision for yourself–my ideas may or may not be inline with your parameters
- There is another large wave of mortgage resets heading to Seattle. From the article: about 12,600 loans are scheduled to reset in the next 6 months (which is 52% of the remaining sub-prime loans). This could mean more foreclosures, lower prices, and more inventory–especially if these people cannot refinance their loans (because of lower house prices or stricter lending standards).
- People are starting to come to the realization that Washington and Seattle are not exempt for the rest of the US economy. Our local economy is slowing down, commodity prices are on the rise, the housing market is seeing a big growth in inventory, and salary increases aren’t keeping up with inflation. This means that as recessionary fears and a slowing economy affect consumers people are likely to spend less and make big purchases (such as a new home).
- Housing prices are declining. August showed the first month of double digit percentage drops in home prices year over year (11.2%, with a media price of $423,950). This means that some homes may not be able to be refinanced. The NWMLS claims that a lot of the decrease in sales and increase in inventory is the tighter lending standards.
All of the aforementioned factors help support the theory that prices are going to continue to decline. There is no indication that the market has hit bottom and is making its way back up. So if you are thinking of buying it is still best to wait and keep saving up that money for a down payment for a home in a year, two years, or maybe more.
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