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The ANACS story, by grader Mike Ellis

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    << <i>I have always found the threads on this Forum fascinating.
    In other threads I have been struck by the fiercely entrepreneurial spirit of the respondents.
    In other threads I have been made aware of the special ethical standards (or lack of them) inherent in the coin world.
    In other threads I have been amazed by the ease that forum members discus the merits of price of a coin selling for millions of dollars.
    In other threads I wondered at the libertarian and conservative view of forum members on taxes and gun laws.
    In this thread I learn that many are indignant about the realities of the capitalistic way of life that they espoused in prior threads.
    So who are we? What do we really believe in?
    Specialty blog sites like this say so much about the complex character of a group. >>


    image

    I too have noticed the strong odor of hypocrisy here.
    It is the natural order of things that all individuals pursue that which is in their own self interest.
    any other philosophy can only exist in a society of cannibals.
    If one is running a business and events dictate he must make certain decisions on employment, if he places the needs of his employees above all other considerations he will and deserves to be out of business.
    This statement does not in any way condone abuse, mistreatment or lack of compassion for said employees but is rather a question of priorities.
    If the situation requires a cut in salaries by a new owner who has yet to earn a salary for himself in order to make his new company viable and if the employees decide this move is in their best interest, why is the word greed invoked?
    If it is in the owners and also the company's best interest to move the company to his home town why is this considered ruthless?
    If it is more feasible to hire experienced workers from his new location rather than transport and resettle workers from the old location who among us that profess any business savvy at all would not make the same decision?
    Though it is apparent that his new staff was pirated from his previous employer what mystical music did this pied piper play to entice them away for a reduction in wages?
    Could it be that both companies have deeper problems than any of us know?
    Could the employees who left to join him feel this was the best decision as to their own future?
    It is tiresome to hear the same tired Bolshevik rhetoric demonizing all entrepreneurs as greedy pigs who care only for themselves.
    The same could easily be said of those who glorify themselves after totally ripping some seller who was naive enough to list coins on ebay with no reserve, hoping for at least a reasonable return on his investment.
    Aren't we all entrepreneurs ourselves. When we buy or sell our coins do we put our own self interest first and foremost or do we care most about the other guy?
    When you finally become so successful that you need to hire some help will your very first consideration be their need for a job or your need for their services?
    When and if your business falls off for any reason will you still keep them on although your business can not support them?
    Will you allow your business to fail rather than take the unpleasant but necessary steps including downsizing the staff to save it?
    To lump all entrepeneurs large and small the same as mega corporations who have no relationship to their work force is no only unfair but untrue.
    Until one has experienced the rigors of entrepeneurship themselves they should not be so ready to make rash uninformed judgements. Dave W


    David J Weygant Rare Coins website: www.djwcoin.com

    dalias13@hotmail.com
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    << <i>I too have noticed the strong odor of hypocrisy here.
    It is the natural order of things that all individuals pursue that which is in their own self interest. >>



    Indeed, greed (money) over employees (human beings)
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭


    << <i>Could it be that both companies have deeper problems than any of us know? >>



    Thats most likely the case tho it does give one pause to wonder how a company that was "making it" could run amok so fast. I guess some have a brown thumb in that everything they touch turns to chit.
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    mommam17mommam17 Posts: 971 ✭✭✭
    My opinion is PCGS and NGC are at the top of the mountain and nobody will reach them. Even a merger of ANACS and ICG will not do it.
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    RYKRYK Posts: 35,788 ✭✭✭✭✭
    Seven more posts before Ken reaches 33333!
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭
    I remember a Ford dealer in the area going belly up years ago and his lamentations about how he felt for "his people" yet he apparently didn't feel that way while he was out yukkin it up and runnin the dealership into the ground. Not sayin that is the case here, but sometimes its hard to find any sympathy for the business folk.
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    Indeed, greed (money) over employees (human beings) >>



    Placing the employees needs over the company's need for profit and quite soon there will be neither profits or employees. Dave W



    David J Weygant Rare Coins website: www.djwcoin.com
    dalias13@hotmail.com
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,842 ✭✭✭✭✭
    That's an interesting name for a new endeavor.
    Driving Force LLC. image
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    << <i>Indeed, greed (money) over employees (human beings) >>



    Placing the employees needs over the company's need for profit and quite soon there will be neither profits or employees. Dave W



    David J Weygant Rare Coins website: www.djwcoin.com >>



    Don't matter how you flip-flop on it, it's pure greed.
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    << <i>Seven more posts before Ken reaches 33333! >>



    What do I win?image
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    IrishMikeIrishMike Posts: 7,738 ✭✭✭
    Just a quick story: Back in 1974 some dissatisfied members of a local community started a new bank, one which would appeal to the so called common person. The only way the State would charter it was an infusion of cash and expertise from the Chairman, President of another nearby bank. Due to poor management the State forced the shareholders to put it up on the block in the later part of 1977 and a sale transpired which eliminated most of the shareholders, not including the holding company of the nearby President of the other bank. I came aboard as 2nd in command in January of 78 to clean up the loan department and establish sound lending practices. The president and svp were given time to locate other employment.

    Some other employees were let go in due time because they either refused to buy into the new regime or weren't qualified and untrainable. However most of the employees flourished and as a result of a a sale more than a decade later had accumulated wealth beyond what they would have otherwise. The bank sold for then record multiple over book. Sadly the new owners did about everything wrong management could have done and the bank was later absorbed into an affiliate.

    No one enjoyed cutting lose employees but sometimes it is necessary to survive and sometimes management can destroy what others have built up. Sadly there is no longer much of a guarantee of life long employment that the generation before mine enjoyed. Those who have the gold rule and they plan on keeping it, but success in one venture doesn't always lead to another.

    The funny thing was that the holding company of the nearby bank finally decided to sell its stock for $20 a share which was market and then 6 months later the bank was sold for $49 a share. In 1986 6000 shares times $29 was a lot of dough, due the math.
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    PerryHallPerryHall Posts: 45,420 ✭✭✭✭✭


    << <i>

    << <i>Seven more posts before Ken reaches 33333! >>



    What do I win?image >>



    Nothing. You're supposed to have a giveaway. image

    Worry is the interest you pay on a debt you may not owe.

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    << <i>

    << <i>Seven more posts before Ken reaches 33333! >>



    What do I win?image >>


    "what do I win?" sounds like the epitome of greed.
    dalias13@hotmail.com
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    << <i>

    << <i>

    << <i>Seven more posts before Ken reaches 33333! >>



    What do I win?image >>


    "what do I win?" sounds like the epitome of greed. >>



    Sounds like some of the greedy peoples BS is rubbing off on me.image
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    DHeathDHeath Posts: 8,472 ✭✭✭
    I always liked the old ANACS. I liked the fee structure, the small holders, the show opinions, the willingness to holder problem coins (the usefulness for me is exemplified by the coin below), and their error attribution. They weren't perfect, but who is. Good luck to all the former employees. I'm sure Mike could walk the bourse and make more money than most, although it sounds like money was not his prime motivation. Best wishes, IdahoGal. image

    image
    Developing theory is what we are meant to do as academic researchers
    and it sets us apart from practitioners and consultants. Gregor
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    ttownttown Posts: 4,472 ✭✭✭
    Well I wonder if they will back the old holder or just tell everyone they're starting over like the last time. I liked the old ANACS and still have many a coin in there holders.
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    IrishMikeIrishMike Posts: 7,738 ✭✭✭
    Go out and start a business and invest your capital in it, work 70 hour weeks, miss out on vacations and family life etc. Then come back and tell us about greedy people. I chose not to take that path for long, but I did finance a number of startups over my career and was first hand witness to the jobs they created and the sacrifices they made. They earned the right on how best to take care of their employees, some of which stole from them, came to work juiced, didn't bother to come to work on a regular basis or quit and take trade secrets with them. They put it all at risk and some of them earned my respect even when they built large homes, bought yachts or whatever. Small business folks are still the economic backbone of most regions of this country and I for one am not going to go around calling them names especially without knowing the story.
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    << <i>Maybe we need legislation directing that one party or the other take care of the employees before the sale is completed. >>



    Spoken like a true Democratimage That is what we need, more regulations. Let the Government take care of everything, maybe the reference to "Big Joe" wasn't that far offimage

    Sounds like ksteelheader thinks all business should be run by a "cooperative” of the employees. If that is the case, then let the employees put up the capital to buy the company. Maybe ksteelheader wants the Government to own and run all of the business, which is what “Big Joe” would want.image
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,842 ✭✭✭✭✭
    As for ANACS closing down....
    Coin collecting is a luxury, just like this place.
    Businesses don't owe employees a thing. Employees owe their employer an honest days work for a fair wage and performance should be the guage as to who deserves more money. Greed is not the greatest problem we are faced with.
    Again, that name "Driving Force LLC" is a bit of an odd name for COINS.

    If anyone wants to syndicate and has a good business plan, we can get PCI on the cheap ....
    We can name it:

    "HARDLINE Coins And Comics Incorporated.
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    << <i>

    << <i>Maybe we need legislation directing that one party or the other take care of the employees before the sale is completed. >>



    Spoken like a true Democratimage That is what we need, more regulations. Let the Government take care of everything, maybe the reference to "Big Joe" wasn't that far offimage

    Sounds like ksteelheader thinks all business should be run by a "cooperative” of the employees. If that is the case, then let the employees put up the capital to buy the company. Maybe ksteelheader wants the Government to own and run all of the business, which is what “Big Joe” would want.image >>



    Yeah, maybe you're right. Why have regulations regulating greedy people from screwing other human beings in the name of their own monetary gain.
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    PerryHallPerryHall Posts: 45,420 ✭✭✭✭✭


    << <i>I always liked the old ANACS. I liked the fee structure, the small holders, the show opinions, the willingness to holder problem coins (the usefulness for me is exemplified by the coin below), and their error attribution. >>



    Agree. Also, anyone could submit without having to join something.

    Worry is the interest you pay on a debt you may not owe.

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    << <i>

    << <i>

    << <i>Maybe we need legislation directing that one party or the other take care of the employees before the sale is completed. >>



    Spoken like a true Democratimage That is what we need, more regulations. Let the Government take care of everything, maybe the reference to "Big Joe" wasn't that far offimage

    Sounds like ksteelheader thinks all business should be run by a "cooperative” of the employees. If that is the case, then let the employees put up the capital to buy the company. Maybe ksteelheader wants the Government to own and run all of the business, which is what “Big Joe” would want.image >>



    Yeah, maybe you're right. Why have regulations regulating greedy people from screwing other human beings in the name of their own monetary gain. >>



    Would we be able to also have regulations to stop the "other human beings" from screwing the greedy people?
    Churchill once said: "Capitalism is the unequal distribution of wealth and Communism is the equal distribution of misery". Dave W

    David J Weygant Rare Coins website: www.djwcoin.com
    dalias13@hotmail.com
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    ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Yeah, maybe you're right. Why have regulations regulating greedy people from screwing other human beings in the name of their own monetary gain. >>

    It's not just business owners that screw its workers. Sometimes it's the other way around. Do we need to legislate that, too?
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭


    << <i>Go out and start a business and invest your capital in it, work 70 hour weeks, miss out on vacations and family life etc. Then come back and tell us about greedy people. I chose not to take that path for long, but I did finance a number of startups over my career and was first hand witness to the jobs they created and the sacrifices they made. They earned the right on how best to take care of their employees, some of which stole from them, came to work juiced, didn't bother to come to work on a regular basis or quit and take trade secrets with them. They put it all at risk and some of them earned my respect even when they built large homes, bought yachts or whatever. Small business folks are still the economic backbone of most regions of this country and I for one am not going to go around calling them names especially without knowing the story. >>



    There are a lot of good and bad folks on both sides of the fence.
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭


    << <i>As for ANACS closing down....
    Coin collecting is a luxury, just like this place.
    Businesses don't owe employees a thing. Employees owe their employer an honest days work for a fair wage and performance should be the guage as to who deserves more money. Greed is not the greatest problem we are faced with.
    Again, that name "Driving Force LLC" is a bit of an odd name for COINS.

    If anyone wants to syndicate and has a good business plan, we can get PCI on the cheap ....
    We can name it:

    "HARDLINE Coins And Comics Incorporated. >>



    Or ICG or both PCI and ICG, sounds like ICG may not exist after wednesday.
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    << <i>

    << <i>Yeah, maybe you're right. Why have regulations regulating greedy people from screwing other human beings in the name of their own monetary gain. >>

    It's not just business owners that screw its workers. Sometimes it's the other way around. Do we need to legislate that, too? >>



    That's already legislated.
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    I just wanted to let you end-of-thread people know that we page-1 beginning-of-thread people want only peace, prosperity, and mutual understanding to flourish between our two different cultures. Although we feel a little threatened and uninformed starting on page 1, we hope to meet, but not exceed, your knowledge of this thread's information. image

    Sean
    Sometimes I sits and thinks, and sometimes I just sits.

    -Mark Twain
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    wondercoinwondercoin Posts: 16,688 ✭✭✭✭✭
    Would this be a good summary of the "ANACS Story"?:

    1. For the most part, the ex ICG graders are moving to ANACS (key exception - Cameron K.).

    2. For the most part, the ex ANACS graders are moving to ICG.

    3. ANACS will now be doing much, much more TV stuff. Expect to possibly see a ton more "70" graded coins out of ANACS from here?

    4. Plenty of harding work staffers may be out of a job or forced to relocate across the country possibly at reduced salaries. Very sad.

    5. Other than that, business pretty much as usual and really no major impact on either of the "big 2".

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
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    koynekwestkoynekwest Posts: 10,048 ✭✭✭✭✭
    "Could it be that both companies have deeper problems than any of us know?"

    I would think that this is one of the more accurate statements posted here.
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    dcarrdcarr Posts: 8,000 ✭✭✭✭✭


    << <i>Would this be a good summary of the "ANACS Story"?:

    1. For the most part, the ex ICG graders are moving to ANACS (key except - Cameron).

    2. For the most part, the ex ANACS graders are moving to ICG.

    3. ANACS will now be doing much, much more TV stuff. Expect to possibly see a ton more "70" graded coins out of ANACS from here?

    4. Plenty of hard work staffers may be out of a job or forced to relocate across the country possibly at reduced salaries. Very sad.

    5. Other than that, business pretty much as usual and really no major impact on either of the "big 2".

    Wondercoin >>



    That is one possible prediction of what may come to pass. In a few months we can look back and see how accurate this prediction is. But at this point, other than James Taylor, we have no idea which (if any) other ICG employees are actually moving to ANACS and vice-versa. As of December 19, JP Martin and Cameron Kiefer were working at the ICG offices. And the ICG web page still lists all the same graders they had previously.

    PS:
    I'd bet that PCGS and NGC would love to get more of that TV "70" business.
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    << <i> You really don't know me at all.

    If you did, you wouldn't have stuck your head up your ass to talk.

    ksteelheader >>




    I don’t know you and from the arrogance and ignorance of your posts, I don’t want to know you.

    You don’t know James Taylor or what deal he had with ANACS, but being the hypocrite you are you still run off at the mouth. Laura was right when she referred to you as the “little man” who hides behind his keyboard.

    As some else mentioned, you were quick to comment “It certainly would be nice to hear the rest of the story!” in the thread Bad experience at A-Coin in Jacksonville, Florida.... To bad that you didn’t take your own advice before you ran off with the bull sh!t about Taylor.

    But I noticed you are not willing to use your own capital to buy a business and let other people tell you how to run it. I guess there are those people that do and then the wannabees like you.

    Your new sig line should be “Hail to Uncle Joe”. Now you can remove your head from your own ass or leave it there, it is obvious that your mouth and ass gives off the same amount of crap. image
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    << <i>

    << <i> You really don't know me at all.

    If you did, you wouldn't have stuck your head up your ass to talk.

    ksteelheader >>




    I don’t know you and from the arrogance and ignorance of your posts, I don’t want to know you.

    You don’t know James Taylor or what deal he had with ANACS, but being the hypocrite you are you still run off at the mouth. Laura was right when she referred to you as the “little man” who hides behind his keyboard.

    As some else mentioned, you were quick to comment “It certainly would be nice to hear the rest of the story!” in the thread Bad experience at A-Coin in Jacksonville, Florida.... To bad that you didn’t take your own advice before you ran off with the bull sh!t about Taylor.

    But I noticed you are not willing to use your own capital to buy a business and let other people tell you how to run it. I guess there are those people that do and then the wannabees like you.

    Your new sig line should be “Hail to Uncle Joe”. Now you can remove your head from your own ass or leave it there, it is obvious that your mouth and ass gives off the same amount of crap. image >>



    Come to Baltimore and see who hides behind their keyboard. You can go home and tell your wife and kids that an old man kicked your ass.
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,842 ✭✭✭✭✭
    Heads or Tails ? image
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    coinpicturescoinpictures Posts: 5,345 ✭✭✭
    I don't think that anyone disagrees that when businesses are bought and sold, employee turnover occurs.

    Based on what has been disseminated here, the WAY the employee termination was handled by the seller(s) is outright pathetic.

    To come in the day after Christmas and find the building looted and be told "you're fired" with no notice is just plain sh1tty. Period. EOD.

    Outside of criminal behavior on the part of the employee, there is no justification for treatment like that.
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    << <i>I don't think that anyone disagrees that when businesses are bought and sold, employee turnover occurs.

    Based on what has been disseminated here, the WAY the employee termination was handled by the seller(s) is outright pathetic.

    To come in the day after Christmas and find the building looted and be told "you're fired" with no notice is just plain sh1tty. Period. EOD.

    Outside of criminal behavior on the part of the employee, there is no justification for treatment like that. >>



    Indeed, but people like TACloughTheMouth think differently.
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭
    So WTF happened to ICG then anyone know?
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    dcarrdcarr Posts: 8,000 ✭✭✭✭✭


    << <i>So WTF happened to ICG then anyone know? >>



    I visited the ICG offices on December 19. James Taylor was not there and I got the impression that he hadn't been there for a few weeks. But the regular crew was there working.

    ICG had called me and asked me to pick up my tub of coins that they had been storing for me for a couple years. Were they losing their storage space ? I don't know - something may have been going on in that regard. I was told that they would be closed the week of Christmas.

    So I went there on the 19th to pick up my coins. At that time, JP Martin looked at four coins I brought. They accepted by submission of 2 coins for 15-day grading service. I received the two coins (properly graded) in the mail on December 24 !

    So, is ICG preparing to "clear out" by the end of the year. I don't see any concrete evidence of that. We'll see. But why would the owners of ICG just let it fold instead of selling it to James Taylor when he recently offered to buy it ?

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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭
    It might be instructive to make another visit there monday if possible. Why would most or all of the people there leave?
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    DeepCoinDeepCoin Posts: 2,781 ✭✭✭
    All of this demonstrates what a really SMALL business grading is. Managing a small business is a very tricky enterprise and I thought there would be more consolidation than there has been. None of this is surprising to me as someone who managed a business with 400 employees. It will be interesting to find out more at FUN.
    Retired United States Mint guy, now working on an Everyman Type Set.
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    << <i> I don't think that anyone disagrees that when businesses are bought and sold, employee turnover occurs.

    Based on what has been disseminated here, the WAY the employee termination was handled by the seller(s) is outright pathetic.

    To come in the day after Christmas and find the building looted and be told "you're fired" with no notice is just plain sh1tty. Period. EOD.

    Outside of criminal behavior on the part of the employee, there is no justification for treatment like that. >>



    Coinpictures, You are absolutely 100 percent correct, “the way the employee termination was handled by the seller(s) is outright pathetic”{/B]. Sh!thead ksteelheader wants to blame the buyer(s) for the terminations and have “Big Government” regulate how businesses are bought and sold, he must be running for the head of the Communist Party.



    << <i> Come to Baltimore and see who hides behind their keyboard. You can go home and tell your wife and kids that an old man kicked your ass.
    ksteelheader >>



    ksteelheader why don’t you come to Maine unless you are all mouth! A lot of men have tried to do what you threaten, they all failed. You won’t be the first one that I had to take to the hospital before the jail would take custody of them. image
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    tincuptincup Posts: 4,771 ✭✭✭✭✭
    this is more entertaining than surfing eBay.....
    ----- kj
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    << <i>

    << <i> I don't think that anyone disagrees that when businesses are bought and sold, employee turnover occurs.

    Based on what has been disseminated here, the WAY the employee termination was handled by the seller(s) is outright pathetic.

    To come in the day after Christmas and find the building looted and be told "you're fired" with no notice is just plain sh1tty. Period. EOD.

    Outside of criminal behavior on the part of the employee, there is no justification for treatment like that. >>



    Coinpictures, You are absolutely 100 percent correct, “the way the employee termination was handled by the seller(s) is outright pathetic”{/B]. Sh!thead ksteelheader wants to blame the buyer(s) for the terminations and have “Big Government” regulate how businesses are bought and sold, he must be running for the head of the Communist Party.



    << <i> Come to Baltimore and see who hides behind their keyboard. You can go home and tell your wife and kids that an old man kicked your ass.
    ksteelheader >>



    ksteelheader why don’t you come to Maine unless you are all mouth! A lot of men have tried to do what you threaten, they all failed. You won’t be the first one that I had to take to the hospital before the jail would take custody of them. image >>



    I used to go down to the Tun Tavern and wipe the floor with Marines, not sissies like you, and then treat them at Sick Bay in the morning.
    Pfftt!
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    MyqqyMyqqy Posts: 9,777
    Let's arrange a time and place for the fisticuffs, sell tickets, and settle this like 7th graders...
    My style is impetuous, my defense is impregnable !
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    TrimeTrime Posts: 1,864 ✭✭✭
    Out of Chaos comes nastiness.
    Time to give it a rest.

    Businesses fail or are sold all the time.
    Employees move to other jobs or are invited to move with the new management and site.
    I suspect 95% of all the forum members are sympathetic to the employees who were at risk.
    As far as I can tell graders are in demand : they are likely to land on their feet at another TPG, auction house, wholesale or retail unit.
    At least I hope so.
    There are other really big problems to deal with; hundreds of thousands of houses in default; a war which is costing trillions of dollars with no obvious gain in sight; soldiers dying in a war that few want; a balance of payments that makes it look like oil is going up while in truth the dollar is going down.
    Let's hope for a better year to come.
    Trime
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    MrEurekaMrEureka Posts: 23,943 ✭✭✭✭✭
    There are other really big problems to deal with; hundreds of thousands of houses in default; a war which is costing trillions of dollars with no obvious gain in sight; soldiers dying in a war that few want; a balance of payments that makes it look like oil is going up while in truth the dollar is going down.
    Let's hope for a better year to come.



    Man, that's a bummer. And I was just starting to have a good time.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
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    << <i>Let's arrange a time and place for the fisticuffs, sell tickets, and settle this like 7th graders... >>



    I want $1,000,000 so I can be as greedy as the people that screw their employees.
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭


    << <i>Out of Chaos comes nastiness.
    Time to give it a rest.

    Businesses fail or are sold all the time.
    Employees move to other jobs or are invited to move with the new management and site.
    I suspect 95% of all the forum members are sympathetic to the employees who were at risk.
    As far as I can tell graders are in demand : they are likely to land on their feet at another TPG, auction house, wholesale or retail unit.
    At least I hope so.
    There are other really big problems to deal with; hundreds of thousands of houses in default; a war which is costing trillions of dollars with no obvious gain in sight; soldiers dying in a war that few want; a balance of payments that makes it look like oil is going up while in truth the dollar is going down.
    Let's hope for a better year to come. >>



    It sounds like JT [read the fust post agin] would offer smoe a them jobs if n when hiz new gig takes off. In the meantime they may want to apply at ICG if many of the current ICGers are leaving.
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭

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