Yearly Archives: 2013

An Example Of How Banks Steal Via Derivatives

It’s been awhile since I’ve been posting. Recently, I decided to participate in a flamewar in a Internet forum, something I haven’t done in awhile. I’m also posting my analysis here, so it isn’t wasted.

In this thread, I mentioned how negative real interest rates feed derivatives markets. I’m posting my example as a separate thread.

Can you walk us through that math?
I buy a call, bank sells it. For example, if that works as a start.

>Complex financial instruments do provide some value in some places. For example, they’re a relatively cheap form of insurance in some instances; say, an airline wants to lock in the price of jet fuel. But they’ve been very poorly regulated and net net, their cost to society exceeds their benefits.

Actually, that was the example I had in mind, an airline making an oil price hedge. I’m more familiar with the rules for equity markets, but futures markets are similar.

Suppose the airline wants to hedge the price of oil. Suppose they decide to buy a $1B underlying 1 year call spread, locking in a price range of $80-$120 per barrel. (i.e., they pay at most $120 and at least $80 per barrel, and if the price is between $80 and $120, that’s what they pay).

The airline enters a derivatives contract with a bank.

The quant at the bank is using the Black-Scholes pricing model. The bank borrows money and buys oil futures, hedging the trade with the airline. The bank can borrow money at the Fed Funds Rate (or 1 year Treasury Rate), say 0.25%. The implied interest rate in the option contract is 0.25%.

However, the bank adds on fees and spread when they sell the call spread to the airline. What the airline actually buys has an implied interest rate of (say) 3%.

This is a great deal for the airline. If the airline issued bonds to finance their oil speculation, they would pay 6% or more. They instead got to borrow at 3%, via the derivatives transaction.

This is a great deal for the bank. They are borrowing at 0.25% and lending at 3%. They are taking on some risk that they misestimated the volatility or don’t hedge correctly, but it’s a positive expectation bet for the bank.

Also, true inflation is 10%-20% or more. On average, oil prices will go up at least 10%. It’s a great deal for the airline to hedge at an implied interest rate of 3%.

Both parties book an immediate profit on the transaction. The bank is borrowing at 0.25% and lending at 3%, a sure profit for them. The airline is borrowing at 3% instead of their normal cost of capital of 6%, a sure gain for them, especially when you consider that oil prices will (on average) go up 10% or more per year.

Where are these profits coming from? Is it because the bank traders and airline hedging desk are such geniuses? That’s what they think, but that’s not what’s actually happening.

When the bank borrows money to finance the transaction, they are borrowing BRAND NEW MONEY from the Federal Reserve, either directly or indirectly via another bank. This new money causes inflation. The inflation caused by this new money is actually greater than the profits earned by the banker and airline.

So, the airline and bank make a profit. But the rest of society experiences greater inflation and greater prices. Via this mechanism, wealth is transferred from the average working stiff to the big banks and the large corporations that get to borrow cheaply. Also, this mechanism usually destroys wealth; the inflation caused is greater than the profits earned.

You can say that the banker is a swell guy for making the airline more efficient. However, it’s a corrupt financial system that makes this transaction profitable. It’s impossible to have real reform, because the big banks literally have an unlimited lobbying budget. They get this huge firehose of free money via negative real interest rates, and spend a lot of that free money lobbying to keep the scam running.

Some people say that banks do good things when they finance businesses. However, they rigged the monetary system so that borrowing from the bank is the best option. With negative real interest rates, borrowing is always going to be more attractive than reinvested earnings.

It’s a very clever scam. The details are not taught in school, on purpose, to keep the slaves clueless about what’s going on. It isn’t taught in “mainstream economics”, because the #1 employer of economists is the Federal Reserver. It isn’t an accident. The people who set up the financial system knew exactly what they were doing. They set up all kinds of smoke and mirrors fake reforms. The real problem is negative interest rates and a corrupt monetary system.

Reader Mail – 12/08/2013 To 12/14/2013

Illidanek commented on Real GDP Is Crashing, 2000-2011.
Exactly. The whole Keynesian model focuses purely on short term profit, at the expense of the long term one. A lot of people realised this decades ago, but the farce has kept going. I might even add that this has benefited quite a few influential personages... :O

cwstechnology commented on Offshorng Software Development Does Not Save Money.
i like the concept that you mention above that mange good poeple locally rather than manage the offshore team.

Joyent And node.js Vs. Ben Noordhuis

This story is hilarious. Someone made a change to node.js, changing all gender-specific pronouns (he/him) to gender-neutral pronouns (they/them). Ben Noordhuis thought it was a pointless change, and rejected it. It led to a controversy that shows how childish the node.js crowd is, and Ben Noordhuis stopped contributing to node.js, having previously been a very active contributor.

As I pointed out before, server-side Javascript is a pants-on-head retarded idea. Lately, I’ve been doing a lot of Javascript work.

The performance of Javascript is nowhere close to PHP or C. I wrote a video poker solver in Javascript, intending to do all the calculation on the client. It finds the optimal strategy for a video poker hand by checking all the cases. The performance was unacceptable, taking 48 seconds in Firefox and 1.6 seconds in Chrome/V8. I’m going to try a PHP version for comparison, but haven’t finished it yet. I had written a C program that did the exact same calculation, and it was much faster.

The performance of Javascript is horrible compared to an adult language, which is why you’re an idiot to use it on a server.

The controversy involving Ben Noordhuis shows that node.js is run by children and not adults. Only a defective personality type is attracted to node.js. If you evaluate hype and not technical merit, you’ll think node.js is amazing. Some intelligent people get tricked into working on node.js, because they don’t understand how something can be very popular and awful.

Why would someone make a commit changing gender pronouns? First, there are some people who really get uptight about that sort of thing. Second, if their change is accepted, they can say on their resume “I’m a node.js core committer! I submitted a patch that was accepted!”, and then all sorts of idiots will line up to hire them. Many employers are looking at GitHub profiles now, which has led to people making superficial changes so they can list all the projects they’ve contributed to.

Another point is that Joyent is the “owner” of node.js. They control the repository. They own the trademark for “node.js”. The more fools that Joyent can con into using node.js, the bigger their revenue. Also, if you’re an “early adopter” of node.js, you run the risk of your experience becoming worthless when node.js is exposed as useless, so any node.js programmer has to actively defend node.js at every opportunity.

Ben Noordhuis works for Strongloop, Joyent’s biggest competitor. Joyent “gains” by forcing Ben Noordhuis out of node.js, because now they have tighter control of node.js. However, they lose, because they risk a fork. They exposed themselves as children.

There’s another serious loss, driving major contributors out of an open source project. If the “owners” of an open source project drive out all the contributors, it will die and stagnate. For example, the current MAME team is angering most of the people who did the hard work years ago. The project is now stagnating. If the only serious node.js contributors are Joyent employees, that will lead to the death of the project eventually. This incident will make other highly competent people reconsider, before actively contributing to node.js.

This conflict between Joyent and Ben Noordhuis is another example showing that node.js is run by children and not adults. Only a fool would voluntarily use Javascript as a server-side language.

Reader Mail – 12/01/2013 To 12/07/2013

nemo commented on More node.js Observations.
"They can barely implement anything without breaking something else on the site"

HOW is it possible if they have tests? I really do not understand how you can even see they had something broken...

Unless, you have no CI on place and people commit all shit they just have on their EOD not running any tests prior to that. This is really bad practice and terrible teamwork - to spoil work of the other teammates. I would either made a revolution in such 'project' or just change the job.

Also, I don't understand what you mean by 'excessive tests'. Writing good tests is not trivial problem. If you're feeling these tests they/you write are 'excessive' - maybe they are not testing anything important? The idea is to have a good 'test harness' to protect existing functionality from breaking in case of e.g. refactoring. This is critical for long-term projects for and big teams. This stuff really saves lots of time and effort (money!) in longer scope.

Actually, there are no tests. It's just me clicking around and noticing that stuff that worked a week ago is now broken. I gave up reporting bugs. About 10% of the time, the site fails completely on page load.

They don't even unit test, i.e. "Test that the thing I just wrote works." or "Test that the thing I just wrote didn't break anything on the same page."

Given their gross incompetence, I see how a lot of automated tests would reduce the risk of them tripping over their own drool. However, if it's that bad, it's hopeless anyway. I don't see them allocating a lot of time for automated tests when they're already ridiculously behind schedule.

They are making a lot of other mistakes. They are using angular.js, which I now see is a turd like Ruby on Rails, but that's the subject for another post. Based on my experience and personal productivity, finishing one "screen" every 3 days is a reasonable rate of progress if I was working solo using my choice of tools. They're doing one "screen" every two weeks, and they have a 4 person team.

I'm just working there, and I'm not the CTO. So I'm watching the disaster, but powerless to do anything about it. My part of the project works. I'm doing financial calculations in plain Javascript (nothing fancy). They're working on the rest of the site.

Calculations that I know would take less than a millisecond in C are taking 1000-2000 milliseconds in Javascript, even in Chrome/V8. That's why I question why anyone would want to use Javascript as a server-side language. Even worse, I rewrote fragments of the other programmers' code (still in Javascript, same language as them), and got a 30x-100x performance improvement. I haven't looked at much, but I am concerned.

Actually, the CTO is above-average compared to the others I've worked with, but he's totally architected/designed them into a corner. The rank-and-file workers are competent, but horribly mismanaged. As usual, the CTO is deflecting the blame to the subordinates (other than me), even though he caused it with his bad decisions. Naturally, the CTO can't admit he made a mistake and that things are headed in the wrong direction.

They have an MVP (more of an MVPOS) that sort of works, but is slow and buggy. For a startup like theirs to succeed, they need a great product, but their actual website is mediocre and barely functional. They actually have a business plan that I don't laugh at when they explain it, but they'd need a great website and to do a great job recruiting customers, to succeed. Right now, I see them blowing through their funding and then failing.

I've been slacking on my posting recently. I should finish off my "Angular.js Sucks!" post so it can start a flamewar like the node.js posts. I learned jQuery recently, and like it. I don't see how angular.js is an improvement. Like Ruby on Rails, angular.js adds a lot of overhead, as you write framework-compliant code in addition to your actual business logic. They're using Git, so I'm also working on a "Git Sucks!" draft. I've had enough with detached head state, rebasing, and refloging.

"Find a new job!" isn't as easy as it sounds. I already decided to start actively looking, but there probably won't be any progress until January.

commented on Chesapeake Energy CEO Stole $1B From Shareholders.
I Keith McCloud driver trainer EMP#082004

Decorated veteran!

And a stock holder in Chesapeake Energy Corporation and I also work for a Chesapeake owned company Oilfield Trucking Solutions.

Within 3 weeks time: I was discriminated against and unjustly fired from my job.

Joe Stumpf (304) 406-2619 was told by nick Schrader (724) 324-2205 the main boss to get rid of me in a driver evaluation. But instead Joe wrote me a good report this made Joe Stumpf loose his position as driver trainer on night shift. This undermined my ability to train because Joe told other people Nick’s intention and why listen to me because I was on my way out the door.

Joe might not be willing to tell hr about this for fear of it getting back to Nick Schrader and becoming a target himself, but I do believe Joe is a good guy in all this. And if the phone call came from the unemployment office he might just tell the truth about it. Because Joe would not want to see me totally destroyed without any income. But in the end we were all in job preservation mode with OTS. This is because of the treachery of upper management.

I then was appointed driver trainer position again by Nick upon my request on 8/29/13 because I was the best at what I did per Nick Schrader. Even then Joe warned me about Nick being out to get me fired. I was in disbelief because of the promotion.

About a month later I was asked if I would train John Martucci by James Sexson I told him yes so john was appointed new driver trainer John Martucci.

When talking to other drivers about procedure they complain that I am being too picky about little things and John feeds the fire and agrees with them taking me even more notches from our goal of being spill free (Dave Disantis would not listen to me after I told him 3 times not to disconnect the way he was and he had a spill with three days off) john is not a team player. He gives me no backing.

John Martucci blamed me for a problem with Nate Smith 1 (830) 317-0226 a team leader from Pearsall Texas because he didn't have time to spend with John. John told me he started to go with him one night and Nate took him back to the yard and left him there and went out by himself this upset john very much. I explained to john it was not my fault but he was still angry with me about that. He used aggressive words like wtf am I a nobody? I had asked Nate if I could go to the frac and observe drivers and Nate said okay but Nate had other plans for him and he became very angry about it.

I had keys to pickup truck to go to observe drivers John demanded I give them to him. Instead of pressing the issue I gave him the keys and took the van. I found this very strange as well when I asked him about it he said I have the pickup too much. He told me I needed to be in trucks asking me when was the last time I was in a truck. Confusing when Nick told us both to be in pickup trucks watching everyone.

11/7/13 John told me that he knew about vent lines two nights ago 11/5/13 4:00 am that we didn't have to use them on containment. When I had an in depth discussion with him about a driver that was not using it. I had to hear first hand from another driver we don’t have to use vent lines when sucking on containment (surprisingly when most condensate vapors come from inside the tank on the truck but what do I know?). He said it was too early to tell me about it 4:00 am he has texted me earlier than that before. Then he forgot about it and he said I sounded like his wife. I left the conversation at that point I felt he might have been trying to get a rise out of me.

I found that John Martucci being new was extremely confident in challenging me on a daily basis. And someone new in that position would be more willing to learn.

I originally spoke with John about talking about problems on night shift before moving forward with them to management and before we put a target on their head that we discuss it first. (He went straight to management with chuck Spangler (304) 904-5088 and made a mild issue into Spangler having time off without pay.) I found this troubling.

It seems that john don't care what I say.

John also led me to believe that we were to ride along with Spangler while he drove and that Paul and Luke both made jokes about it saying how they will pray for him and hope he don't decide to just turn the wheel all at once. He said that was f***** up that they would joke about that!! If any of that is true !!! I was perplexed about the whole matter and refused to believe Paul or Luke would say such a thing. After all that has been said about Spangler. That was when I called nick about him driving. Nick said absolutely not! we were to drive. John said he had a head cold and didn't mean it to sound like we were riding and Spangler was driving even though I expressed great concern over the situation. (John said he has to go because he stinks and has bad breath) this was well known but very discriminative. This situation all started from a tire going off the road once when john was riding with Spangler this happens quite often on the back roads. John did this to me as well he told Luke while we were doing the behm frac that I was driving reckless. An escort Gary see 740-792-0031 overheard the conversation and at that time. I had just left my position as driver trainer previously. He also told Laverne my replacement driver trainer to put me on pad work I heard this myself and he said I didn't do anything. He was bitter about me back then. Laverne also used reckless driving on a few people that I know of Steve Rawlings this seems to be common practice when someone don't like another these are all kids games.

John would not talk to me about Spangler but led me to believe there was a major problem that he could not discuss with me. If it's a secret why make it sound so grave? Why not downplay it. So I am not so concerned I am in fact a driver trainer and it concerned me.

John said he is left out and I was always included. We were doing a jsa meeting and because James Sexson didn't mention him to be one to call he took it out on me and said I should have spoke up.

I tell john all info I am told I include him even in the tests I make up. He continues to keep things from me I find he has other plans other than me being a driver trainer.

John told me he was the one that worked with the other drivers and they respect him and come to him. I have no idea what he is trying to prove. John is smoking in trucks with other drivers makes him more popular among the ranks I follow policy and don’t smoke in the company vehicles the smokers don't like me cause john would smoke with them.

John sits there while Fred Battista (412) 225-2117 tells me to get the f*** away from him on the Baxter frac while I was trying to explain procedure to him and john says nothing. But tells me he was scared to drive with him because he might take a swing at him. But he treats him like a buddy. Instead of discussing it with him. I'm not sure I completely understand his angle but it should have never gotten this far. Fred received a promotion to go to Pearsall Texas to train. I was approached by Christian a driver trainer from canton he was dropping off a pickup truck. My last night of employment on Thursday 11/21/13 around 11:30 pm and he told me Fred Battista was not following procedure and I told him I know. And he asked why we were still having spills and I told him I have no backing. And no sop to work with.

After I just told John Martucci that Scott Dever 724-986-3965 was to be shadowed for a week by another driver. Because John was new without asking me he sent him by himself to the Kestner pad that very night alone. Randy Williams was supposed to go with him but Randy Williams

304-871-1185 or 304-975-0347 truck was not back at the yard yet. That's what happened to Laverne Seidle (412) 403-3263 He went in and told Paul I was being argumentative and god knows what else. I tried to talk to Paul about my side and Paul refused to hear it. He said we will get Rich Gunther involved corporate? I tried to put all this on the table in the meeting with Rich Gunther but I was immediately silenced and told I have to change. I expressed how I didn't want to lose my job in the meeting and how I tried to reach out to my team leaders and once again I was silenced but I was told in the meeting no one was going to lose their job. I was also told by James Sexson in the meeting said to call him if I have issues so we can talk about them together and work them out before taking it that far to Rich Gunther I agreed. But I also stated that I tried to talk to Paul about it before it went to Rich Gunther. That fell on a deaf ear as well. I know this meeting was recorded ask them for the recording. 4:00pm 11/8/13.

On 11/18/13 we had two trainees that had just come to night shift I asked John if he would mind riding with Elroy Kunselman (304) 266-5988 and I would ride with John Hinman he firmly refused to the point of being argumentative. Tony martin witnessed this 304-997-3621 or 304-644-2880. I later that night asked him why he was being like that. He became enraged to the point I had to leave the room again. I called Luke Sexson like I was instructed to do in the prior meeting. To talk to someone about it. Luke called Paul and Paul told me not to speak to John for the rest of the night and he would tell John to do the same. And that this incident was going directly to the top again. John took that information about me not talking to him and changed out my work assignment through dispatch I called dispatch and confirmed that at 7:44 pm 11/18/13 ( this is a text msg. I sent Paul Mcguinnes (724) 621-2238 Luke Sexson (304) 871-0711 and boss nick Schrader :(724) 324-2205::(Called Michael Williams with dispatch at 7:44 pm after receiving a text msg that I was not going to be with Kunselman I asked who told him to put randy Williams with him and he said john Martucci did. John never even consulted with me about this either. Daring me to confront him after Paul Mcguinnes said not to talk with him. I'm very frustrated) Paul and Luke took that straight to Rich Gunther as well after Luke told me in the meeting to call someone and talk about it. The meeting is recorded if there is doubt.

There are a fair share of arguments that happen every day at work. We are in the trucking industry even drivers confronting management on a regular basis. Yelling and cursing back and forth between management and drivers I once again was mild. I had certain job functions to do every day and I was constantly being hindered in my job performance By John Martucci. I never had a spill I had 1 returned paper the entire year and 1/2 I worked there I didn’t put a barrel count on my trip ticket and everyone was confused as to how much to even put on a paper management kept changing how many barrel we could haul. They could not find any fault in me at all. Other than when being provoked by a peer about safety issues. I spoke up. There are however the few choice people that follow everything that Nick tells them that get to keep their jobs after major accidents involving trucks and major spills. To name a few Chris Colman, Fred Batista, Jim martin.

I was terminated 11/22/13 by phone call at 6:04 pm I was given the excuse that I was not getting along with my peer a new fellow driver trainer. And this has happened before. With the attitudes floating around that building and no direction Luke,Paul, and Nick all cursed drivers this confrontation with my peer was very mild. Most all of the guys get warnings or three days off because of the attitudes they have I didn't even get three days off to think about it I found this discriminative. No warning not a suspension ever the whole time in employment. Just a termination.

Laverne Seidle Previous driver trainer 412-403-3263 was constantly battling with her peer Joe Stumpf Previous driver trainer (304) 406-2619 Joe went to dayshift to work and Laverne kept her night shift position. There was no termination that took place at all. Neither one even received a suspension. Once again the disagreement I had with John Martucci was mild. I would have been happy with a demotion or even 3 days off. A termination was something deeper that was not brought to my attention in the termination phone call.

Joe still works on dayshift.

Laverne ended up being terminated for allowing a driver to drive a truck that was inexperienced and he had a major accident. I can understand that reasoning a little. My opinion is he couldn’t drive a truck. Why hire him? (Driver Eugene Crowder) she unfortunately took a fall for Paul McGinnis’s lack of intelligence and poor leadership. Paul loved to test drive in automatics because they had nicer passenger seats in them for him to be comfortable. That is not the real world. In the real world 18 speeds govern most of our fleet.

I have never called hr on a single person throughout my year and 1/2 with OTS but I loved my job and I loved the work I did. I have never had a spill, never argued with management and never had a write up.

I was also told in my termination phone call that Nick presented that I bring a lot to OTS but in the same breath he fired me. He said that he has told me time and time again about my attitude. Baring the most recent problems which were 2 incidents that were recorded.

1. Disagreement with John Martucci

2. Termination.

Two other were in the past of anything that Nick could even attempt to call problematic.

1. One of those was a personal and Safety issue that was quickly resolved and did not include any employee with OTS about a year ago. How can one personal and safety issue outside of work be included as an episode?

2. Was I was confused there for a time who was my boss was. Scott Davis, head of dispatch firing people that I liked and did good work. And at the time no one knew who he was. We had a meeting about it and nick said he has the power to fire me and Scott Davis corrected him in the meeting and said he Himself couldn’t. I walked away from that meeting just as confused as my termination phone call. I asked who Scott Davis was and that turned into an issue about 7 months ago. The entire time I have been employed with OTS. If Nick says there are more please have him supply the documentation with my signature or my voice I would like to see or hear his answer. Excluding any personal issues that were never brought to my attention. There was absolutely no reason for my termination I know there is nothing in my file and that I am spotless in this decision.

Given all that was said I'm not so sure John Martucci was actually acting on his own or going off of instructions from Nick like Joe Stumpf. Either way there is a discrimination going on at OTS that needs to be addressed. During the 2week stand down it was said that Jessica steel lost her position as safety coach not terminated for arguing and fighting with Paul Mcguinnes I believe she had brought a lot to the table about Paul in a discriminative session against her with rich Gunther as well is this a pattern or a problem? But talk behind closed doors told me they didn't want her there. (Nick himself told me this) the following week she was in an argument with Paul during the stand down and she was transferred.

Now there are no women in the field and no black men. The perfect Aryan race. I'm sure it was all recorded, and they started an argument with her as well just like me but they knew I would not disagree with management. just like me but a little different she was transferred and got to keep her employment to save her job she felt she was to defend herself in an argument with Paul Mcguinnes. We had a black man working there that was run off due to poking and prodding his name was Ben Terry I enjoyed my time with him. He had to choose a different job because of the back stabbing going on. He put in his two week notice to give them time to replace him and the let him go as soon as he gave it to them. Ben was nothing but positive his whole time there. And we all know about Laverne and how she took a fall for Paul McGuiness. Hell I was even told by tony martin a driver trainer that OTS wouldn’t hire a woman because Nick told him she was too pretty at one of their recent job fairs even though she could drive a truck and had all the qualifications. Said it would cause problems among the guys. (unreal)

Everything said is factual and very true I know from talking with people in the know nick is in a weed out process to get people in to help him do his dirty work for him. I refuse to step down to no moral values when it comes to right or wrong. About an employee who does there job and supports their family. I'm not the first and I won't be the last. They even go as far as to open hatches on trucks that people cant check during pre trips and bleeder valves to make people have spills (Paul McGuiness)and then laughs about it (Baxter frac). I find it pathetic seen this first hand. They also drilled a hole into Ben Terry’s (black man) valve so he would have a spill. Also they beat up Jessica steels pickup truck to blame it on her. They tried to get me to drive a vehicle 4quarts too full of oil so the engine would blow up. Paul McGuiness and matt dreas. I have mats text msg saying it was fine to drive and I have a recording of Paul. I’m sure Paul will have a nice retirement waiting for him at Waste Management. (This is the company struggling to get water rights with Chesapeake energy) this is the company Paul McGuiness is from. After he is finished destroying OTS with Nick these are all deliberate actions that are very costly to the stock holder.

James Luke Sexson told Nate Smith another team leader from Pearsall Texas to have a fun time with a matrix that came out on Fred Battista telling him to have fun with it and rip him up over it. I find this to be very unprofessional as well. So did Nate.

Everyone in Management Paul, Luke, Jessica and Nick ended all their sentences with “If you don’t like it there is the door” like kids playing games with families and people depending on college money, food and livelihood. It Seems feeling’s from upper management trickle’s down every time. I brought it to their attention with no response or maybe their response was termination without suspension or warning.

Paul Mcguinnes also told me that all the drivers were idiots and garbage men have more brains than they do I'm sure this is recorded somewhere as well. It is like a bunch of kids in management.

Sop= Standard Operating Procedure:

During the stand down that cost drivers and stock holders 800,000.00 they tried to implement their sop that would not work. They said that they would never change it. I have a copy if needed. I told them it would not work. Nick brought john (don’t know his last name) down from canton to check into our findings. John I guess wrote the sop. After many driver trainers trying to convince him that it was wrong. I had a discussion with him and he said that he received an e-mail from Chesapeake that no pressure was to be put on the valves I told him at that point it was suction that we are talking about. I found after our conversation he decided to go with the trainer’s decision. Still months after the stand down there was still no sop. I stated my concern time and time again to no avail. I finally saw the so called completed version with all the corrections in a conference call with nick and and via e-mail. I’m sure that this is all recorded as well. I made finishing touches on the final draft in a conference call at that time. They forgot steps that I informed them about and it was finished. Then I was fired. What a reward? Ask anyone! All I wanted to do is to make sure the drivers were equipped with all the knowledge they needed to keep their jobs and not to have spills in the field. I never wanted to prove anyone wrong at any time. Nick extracted knowledge from me for personal gain then got rid of me.

There is no character in management Nick never pays attention on matters that can help the driver even when requested by people who know what they are talking about. He would rather fire someone who is trying to help and is dedicated rather than to think his plan won’t work. Nicks understanding of truck utilization was get a truck loaded from any pad and sit on it until we can get it unloaded somewhere while the clock ticks so the truck was stealing money from Chesapeake and at least his numbers was up look at the records this went on for months before the stand down (unbelievable). Everyone understood this was a problem and eventually it would hurt the drivers which it did. Hours were cut on them and Nick won’t allow much overtime only for certain drivers. And everyone wonders why we have so many incidents with spills and dot accidents and why the stand down took place. There was and is still no direction with a sop for drivers to do procedure the correct way. James Tranovich was fired for having a spill according to the old sop. I was in the office while Luke and Paul laughed while they wrote his bad report using safety as an excuse. And yet I was silenced in the meeting when I brought up a safety issue. It was no secret Paul did not like Tranovich ask anyone. This is why we spent 800,000 dollars on a stand down to walk away with no sop I find this in itself very perplexing. We were working on one and it got declined and still nothing up to the day I got terminated. I mean wasn’t this a problem even going into a stand down in the first place? More than a month has passed and we have had 5 spills because people still have nothing concrete. It’s hard to train without directives. Everyone was still doing their own thing in the field. I begged for something concrete to go by. Even during my interview for team leader with Nick. Maybe this is part of the reason I was terminated. Still they are firing people for being confused and causing spills. Ask Elroy Kunselman about the old sop. He is new but very smart we talked about it in depth and he agrees you will have a spill with it. An 87 step sop is not the answer! All the employees deserve direction and should have had something by now. Chris Bersaurd had multiple complaints from many drivers there about management. And still nothing changes. Where is the Leadership? There are many great drivers at OTS that need to support their families. Management is a bunch of Kids in a candy store. OTS was a great place to work till Nick Came along to put his Fingers In everything He has no Idea About. Everyone in Management needs to be severed and put people in there that know the work and the Field. Or Drivers will Keep Getting fired because of poor management. No one in current management knows oil field operations it’s like the blind leading the blind. Jessica steel knew more than them and they got rid of her too. Absolutely pathetic. One thing management Nick Schrader, Paul McGuiness and James Sexson are good at is that they know how to get rid of people who know more than them.

Chris Bersaurd I beg you to put someone in to replace Nick Schrader I know he is a friend but He is destroying many Families who depend on an income for survival. Remember in my termination recording he begins saying I bring a lot to the table. And in the same breath he says I’m fired. Is that helpful to the company? Or would give me 3 days off first? You decide you seem very intelligent to me! Unless you are giving him these directives in any case I will give you 3 days to respond. You deserve that because I don’t know you. Then all this go’s viral.

Thank you!

Keith McCloud

My cell number is 1-740-632-7878


This isn't the first time and won't be the last time someone was unfairly fired from a job. The best thing to do is to focus on finding a better job.

I can tell that you're under a lot of stress. Don't go all postal/Christopher Dorner. Try to avoid being hospitalized with a "mental illness", the treatment is horrible.

Take a couple weeks off (if you can afford it), and start looking for a new job. That's why you always keep a reserve of savings.

Yes, they cheated you. Let it go and move on to the next thing.

It's pretty disappointing to realize that you have no recourse when you're cheated, but that's the way it is.

nemo commented on Only Idiots Use Java For High Frequency Trading.
You don't have much knowledge about Java, do you? You shouldn't comment on things you have no clue then.

I guess you can only imagine a single JVM running everyting and when GC starts everything else is on hold?

Really, there are different options to configure GC, and its behavior may differ very much on the particular JVM used. It doesn't do the STW (Stop-the-World) process anymore. Also, there can be something called immortal and scoped memory additionally to normal Java heap. These areas are not GC'ed.

If we assume that HFT is a Real Time computing case - then you may get familiar with RTJS spec...

Summing up - saying that $LANGUAGE (this case - Java) is wrong for some big project is simply stupid. In case of real performance-oriented systems you usually find them heterogeneous - different parts written in different languages, running on different hardware. BUT, you never do this at the beginning, so even writing the whole thing in Java may be a good choice. Then, you may start to optimize stuff, maybe rewriting critical bits in Assembler or C. You may spread it onto some processing farm or whatever will get you to the required performance. But only if you really need that. There is this saying:

1. rule of optimisation:

Don't do it

2. rule of optimisation:

Don't do it yet

You may of course start with Assembler at the first place... but this is ALWAYS about money. Will a big app written in Assembler be cheaper than the hybrid?

Anonymous Coward commented on Reader Mail - 11/24/2013 To 11/30/2013.
What do you make of the following news story about a United Kingdom marine being sentenced to life in prison for shooting a probably fatally wounded Taliban fighter, originally shot by a helicopter.

I'm touched a British military judge cares so much about life (note this said in a sarcastic tone)!

Is this hypocrisy?

Is the government responsible more than this solider?

Bear in the the other side hang limbs of British soldiers from trees after than have been blown up.

Reader Mail – 11/24/2013 To 11/30/2013

nemo commented on node.js Is VB6 - Does node.js Suck?.
"That’s the biggest lacking feature of modern programming languages, support for multiple cores and multiple threads. "

Do you - by any chance - know why is it so?

Are the multiple CPU architectures so new that it was not enough time to come up with nice solutions?

No dude - it is just because it is f* difficult to solve these problems. And actually things build around Reactor Pattern are one of the solutions, which remove parallel processing from your design of your application. The other solution would be e.g. pure functional programming - which results in the same thing - you're not thinking how this is going to be calculated - it just gets calculated.

Also, if you complain that e.g. Node is not using multiple cores - you are pretty clueless by yourself. It is really not that these all cores will be ide when it comes to production deployment, seriously...

nemo commented on node.js Is VB6 - Does node.js Suck?.

There is the other advantage to Node-like design (single thread, event-based). It is that it is ready-to-go for computing clouds. Try to spawn threads in your app for e.g. Google App Engine :). With Node app - you just deploy as it is and you can add/sub the processes (virtual CPU cores) as you need.

Again - you are not thinking about your target env. - you JUST scale it without planning for it.

nemo commented on More node.js Observations.
"Even my sister thought that “test driven development” was stupid. Why would you write the tests before writing the website? The idiot has the illusion that he’s working, when he’s writing a bunch of tests."

Dude, you have no idea what are you talking about... have you ever try to really read about TDD and the concepts? Do you ever worked on any bigger not-trivial project within a big team and had to support your product for longer period of time?

Test driven development and excessive automated tests are a waste of resources. The coworkers at my current job have me wondering sometimes. They can barely implement anything without breaking something else on the site. I'm there 2 days a week, and I look at every page each time. They break more things than get new things finished. I can see how, if you're clueless, automated testing can avoid some problems, but then you're doomed anyway.

Francesco commented on Open Pandora, PSP, or Android?.
Go the Open Pandora way! There is quite no device like it. It's been a pleasure to play and tinker with it (15 days now). The community is great, games are very professionally crafted/packaged, repos are very active (they post on FaceBook every update/release, today a version of Metroid was published, for free), and emulation is ready "out of the box" (with full list of emulators and howTos to choose the best ones).

My 1GHZ device runs smoothly at 1.244MHz: overclocking is a matter of dragging a slider, there is also a CPU stress test software that will find the right clock speed for you.

The device is FAST and SNAPPY, the OS is clean and so thin compared to Android (or anything else, really). XFCE is cool and feels perfect. It runs a full version of desktop Firefox, on heavy sites, quite fine (and you can scroll with the d-pad as arrows). You can even use the Pandora as an external bluetooth HID device to a tablet/phone: as a mouse+keyboard+joystick for your phone/tablet (you move the pad on the Pandora and the mouse cursor moves on the phone, you type on Pandora.. etc.., software is called "Master Control"). The two SD slots mean you can add a *LOT* of stuff to it: 2 x 128GB means 256GB of space! Of course multiple OSs are an option (keeping data in one slot and some OS in the other). Anyway, if you do it for fun, get the Pandora.

I've been seriously thinking about it. They're switching to "Open Pandora 2", primarily because it's no longer possible to get parts for the current version.

If it isn't a preorder disaster like the Open Pandora, I might order it from stock.

One problem with the current Open Pandora it that it's a couple years obsolete hardware. My phone has so much more power. I might go for an ubuntu phone.

commented on Only Idiots Use Java For High Frequency Trading.
I write HFT/ultra low latency trading software with extremely complex business rules and algos for a living and it's all done in C++ simply because Java isn't nearly fast enough. At times we even write code for bare metal to squeeze out that extra microsecond.

> Managing the memory and developing these algorithm by a team and a developer will never be possible.

Spoken like a true idiot. Yes, if you're incompetent and work with a bunch of incompetent fools, then it's indeed not possible.

DeAnn commented on Healcare "Reform" - "You Will Be Able To Keep Your Doctor" Is A Lie.
Wow... such visceral emotions over a simple discussion of facts. It's a terrible thing to have your illusions ripped away from you. But, Dear FYA, every day it is becoming more and more apparent, those who should be our protectors are promoting one lie after another to hide the impending truth.

NOW is the time to have honest discussions. A few years from now there will be no way to repair this, and the Great American Experiment will have come to an end. Honesty is our only hope.

commented on Reader Mail - 11/17/2013 To 11/23/2013.
FSK, what happened here? Your site used to be a daily informative read and it's become a jumble of double-dipped reader comments (reposting them from the comment sections as actual articles). It's a mess. Please return to form.

I know I've been slacking. I'll try to get back on it.

Reader Mail – 11/17/2013 To 11/23/2013

DingDong commented on node.js Is VB6 - Does node.js Suck?.
Assuming this isn't some elaborate trolling operation you have running here, I hope I never have the misfortune of meeting you in person. I can't imagine the misery of having to work with someone who acts like you.

Chris commented on Piwik vs. Google Analytics, A Comparison.
I installed Piwik on my blog and absolutely love it, nothing comes close (not that I tried a lot) but I have used awstats in the past.

FUCK YOU, ASSHOLE commented on Healcare "Reform" - "You Will Be Able To Keep Your Doctor" Is A Lie.
You are a fucking idiot. You can keep your doctor, you just can't see the same doctor with a new plan. Hell, you can keep going to your doctor and pay for everything yourself, if you like. There is no lie, it's just a dirty loophole.

Then again, you are probably too stupid to recognize that.

FUCK YOU, ASSHOLE commented on Healcare "Reform" - "You Will Be Able To Keep Your Doctor" Is A Lie.

You are a fucking idiot. You can keep your doctor, you just can’t see the same doctor with a new plan. Hell, you can keep going to your doctor and pay for everything yourself, if you like. There is no lie, it’s just a dirty loophole.

Then again, you are probably too stupid to recognize that.

Reader Mail – 11/10/2013 To 11/16/2013

vininparker commented on node.js Is VB6 - Does node.js Suck?.
OK, for the record, here are a couple of things missing from this, coming from a 30 yr-exp hands-on architect who has seen the entire evolution :

* The comment about arrogant self-absorbed hipsters was spot on. I shortened my resume as a quick test, and had twice the recruiters calling me from Mountain View.

Here's the technicals reason Javascript is a bad server-side language:

* Weakly-typed (errors caused by lack of typing)

* Late-bound (runtime errors instead of compile-time)

* Exception handling is not typed.

* Lexicon is not completely defined -- just try to change the order of chained event handlers.

* Exceptions in the parser and JITter and VM -- how they're handled is suspect.

* Callbacks in JavaScript pollute the global namespace.

* JavaScript is nearly OO, but not quite. There are more limitations, especially with collections of objects. There are no true virtual method, just pseudo workarounds.

* More abstraction layers that nullify the advantage from the event model.

* Memory usage is horrible. It's for business apps only. DOMs have always been memory hogs. That's just another restriction to add to the list.

However, here's why event models process more:

* Less context-switchingt

* Async threading leads to more throughput

So, in short, the model is good, the language is horrible. From an HR perspective, when I interview people, I'm lucky to find people that even know JavaScript. That's the cepstral source of the problem -- cheap labor from outsourced development that passes for acceptable. From experience, you should always treat as suspect non-american cultures where the mama dictates to the child what to study.

Node.js has a good use on phones for development. Phonegap is excellent.

I'm glad node.js is out there as a choice, it works in some specific situations. I'm hoping the Mono project gets us to a implementation of node.js someday. That would be much more palatable.

pff commented on Only Idiots Use Java For High Frequency Trading.
Again, somebody that thinks his things are faster because are done in C++.

My processor does not process bytecode, and yours? LOL

Healcare “Reform” – “You Will Be Able To Keep Your Doctor” Is A Lie

Right now, I have 2 part-time jobs. I’m still on COBRA from my last full-time job. So, I’d be an “ideal” candidate for the health insurance exchange.

NY State has its own website. Unlike the Federal website disaster, the NY website works.

I looked at the plans on the NY health insurance exchange website. ALL THE PLANS ARE HMOs. There were *NO* PPO plans, only HMO plans. (In an HMO plan, you can only see doctors than are in-network. In a PPO plan, you can see doctors that are not in-network, albeit at a lower rate of reimbursement.)

I picked the Empire Platinum plan. Then, I went to the Empire website to see if my doctor is in their network. Their website said that the doctor list for the new health insurance exchange plans is not finalized yet!

One of the much-touted features of the law, “You will be able to keep your doctor!” may be a lie. First, all the plans on the NY exchange are HMO plans and not PPO plans. Second, the doctor list for the plan has not been published yet! How can I pick a plan if I don’t know if my doctor is in the plan or not?

There are some other interesting “features” of the law. There were some small health insurance cooperatives that are being driven out of business due to the new law. The cost of compliance with the new taxes and regulations is too high. The law is a huge subsidy to large insurance corporations, while driving smaller insurers/cooperatives out of business.