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hegemony

PenFed credit union workers in Eugene face ‘impossible choice’

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How will FenPed get by without this group of talented, dedicated employees?  

 

"People are angry that this news happened, and there are a lot of people that are just simply not coming into work. There are a lot of people that are not working as well as they would have worked in the past. "

 

After my experience with FenPed's mortgage department, I'm not sure they've ever actually originated a mortgage.

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They should be grateful that their employer wants to give them lower costs of living in a State with no income tax and reasonable property taxes and vehicle registration costs (to say nothing about the far cheaper gas costs).  Aside from the nuisance of a move, this actually improves their lot in life...

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1 hour ago, centex said:

They should be grateful that their employer wants to give them lower costs of living in a State with no income tax and reasonable property taxes and vehicle registration costs (to say nothing about the far cheaper gas costs).  Aside from the nuisance of a move, this actually improves their lot in life...

but Texass... much rather live in OR with more personal freedoms. hell texass recently increase regulation of plumbers for god's sake!!!

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Frisco is a far northern suburb of Dallas, north of Plano on the tollway.  It's an extremely affluent community, and it is NOT cheap to live there.  Housing is very expensive.  Maybe on par with cost of living in more affluent sections of Virginia/D.C., but I would think a lot more expensive than Eugene, OR.

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41 minutes ago, Burdell said:

Frisco is a far northern suburb of Dallas, north of Plano on the tollway.  It's an extremely affluent community, and it is NOT cheap to live there.  Housing is very expensive.  Maybe on par with cost of living in more affluent sections of Virginia/D.C., but I would think a lot more expensive than Eugene, OR.

Home for sale just 10 miles from Frisco...

sNjq0ov.jpg?1

 

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The summer weather in Texas, in my opinion, sucks. Even if they can find a house cheaper than in Eugene, running the air conditioning 24/7 could offset that.

Also, everyone's situation is different. I live in the Los Angeles area. Very expensive on average, but very cheap for me. I bought my house in the 1990's and is paid off. Prop 13 property taxes makes mine much less than most my neighbors. If I had to pack up and go to Texas, it would increase my expenses.

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2 hours ago, Burdell said:

Frisco is a far northern suburb of Dallas, north of Plano on the tollway.  It's an extremely affluent community, and it is NOT cheap to live there.  Housing is very expensive.  Maybe on par with cost of living in more affluent sections of Virginia/D.C., but I would think a lot more expensive than Eugene, OR.

They are not required to actually LIVE in Frisco.  There are plenty of affordable places to live within a reasonable commute of Frisco.  With the cheapest gas in the country a short commute does not impact the budget near as much as it would for someone being forced to move to California with a per gallon cost of almost $5 if not over it in some areas. The employees being offered San Antonio need to be the ones who are angry.  You couldn't pay me enough to live down there.

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On 7/16/2019 at 5:14 AM, cv91915 said:

How will FenPed get by without this group of talented, dedicated employees?  

 

"People are angry that this news happened, and there are a lot of people that are just simply not coming into work. There are a lot of people that are not working as well as they would have worked in the past. "

 

After my experience with FenPed's mortgage department, I'm not sure they've ever actually originated a mortgage.

 

At least they ain't stealing xxxxx from their neighbors.  😉

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11 hours ago, centex said:

They should be grateful that their employer wants to give them lower costs of living in a State with no income tax and reasonable property taxes and vehicle registration costs (to say nothing about the far cheaper gas costs).  Aside from the nuisance of a move, this actually improves their lot in life...

 

What kind of Neanderthal thinks ...

  • pulling kids out of school;
  • selling their house / buying a new house;
  • spouse quitting their job / finding a comparable new one;
  • going from a 0% to 6%+ tax on every $1 you spend; and
  • moving to the Shitty State of Texass, which has obviously r ... Ooops, can't say that word ... lawyers

... is a nuisance?  

 

Does it hurt when you think, Jethrine?

 

 

 

 

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41 minutes ago, MarvBear said:

I'm surprised they haven't transferred everyone to Egypt!

 

If they could, they probably would.  I personally know the CEO of PenFed and he certainly isn't the sharpest tool in the shed.

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20 hours ago, CreditSucksNot said:

They are not required to actually LIVE in Frisco.  There are plenty of affordable places to live within a reasonable commute of Frisco.  With the cheapest gas in the country a short commute does not impact the budget near as much as it would for someone being forced to move to California with a per gallon cost of almost $5 if not over it in some areas. The employees being offered San Antonio need to be the ones who are angry.  You couldn't pay me enough to live down there.

I've been to San Antonio twice.  There's the San Antonio River Walk and not much else.  A few years ago I attended a meeting in San Antonio.  For lunch I went to the Souper Salad next door to the hotel.  The salad bar did stink.  The food in it was old, looked bad, and really not much of a selection.  I nibbled on some and left.  I hate to say this, but of the few customers at the Souper Salad, half were missing most their teeth.

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22 hours ago, Burgerwars said:

The summer weather in Texas, in my opinion, sucks. Even if they can find a house cheaper than in Eugene, running the air conditioning 24/7 could offset that.

Also, everyone's situation is different. I live in the Los Angeles area. Very expensive on average, but very cheap for me. I bought my house in the 1990's and is paid off. Prop 13 property taxes makes mine much less than most my neighbors. If I had to pack up and go to Texas, it would increase my expenses.

It is NOT necessary to run A/C 24/7...the SMART people use programmable thermostats.  Additionally, better than a third of my bill at one of the houses is pool-related, not A/C related.  I usually only run the zone downstairs and not upstairs, which certainly helps, but the bill still rarely hits $150 even during August and September.  And Dallas does not get near the humidity whammy that we see closer to the coast...

 

There are plenty of reasonable options in the D/FW metroplex area...traffic sucks, but generally cheaper on housing than Houston and Austin. 

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6 hours ago, centex said:

It is NOT necessary to run A/C 24/7...the SMART people use programmable thermostats.  Additionally, better than a third of my bill at one of the houses is pool-related, not A/C related.  I usually only run the zone downstairs and not upstairs, which certainly helps, but the bill still rarely hits $150 even during August and September.  And Dallas does not get near the humidity whammy that we see closer to the coast...

 

There are plenty of reasonable options in the D/FW metroplex area...traffic sucks, but generally cheaper on housing than Houston and Austin. 

I spent four years in Dallas, 2011 - 2015.  Liked it a lot more than I thought I would.  I had an apartment in the Uptown neighborhood, which adjacent to and just north of downtown and near Highland and University Park cities.  The worst aspect of it was the weather, especially the scorching temps in July -- September. 

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On 7/16/2019 at 7:08 PM, Kat58 said:

Home for sale just 10 miles from Frisco...

sNjq0ov.jpg?1

 

According to US Census Bureau:

Median Income:  $120,701

Median Value of Homes: $335,900

Median Mortgage Payment: $2,360

 

This was in 2010. It's much more affluent now. Lots of million dollar mcmansions.  How affluent is the community? It is so affluent that when the downtown area was designated by EPA as a non-attainment area for lead pollution due to the presence of the Exide lead smelter/car battery recycling plant, the community decided to buy Exide out, demolish the plant, and remediate the property into a mixed-use live/work/play project. 

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FWIW, barclayscard has given the same type of choice to most of its VP and up back office folks in Vegas... move to a new state or get laid off at the end of 2019...

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13 hours ago, hegemony said:

FWIW, barclayscard has given the same type of choice to most of its VP and up back office folks in Vegas... move to a new state or get laid off at the end of 2019...

Yep. There's a lot of this going around now, unfortunately. Sometimes the employees who choose to make the move get screwed over twice -- within a year or so of relocating to accommodate their employer's consolidation they get laid off. For the PenFed folks, I guess it all depends on their circumstances. Employees with children should really take a hard look at the state of the schools in Texas. I found Dallas to be a great place for young professionals (without kids), whether married or single. A difficult decision to make, for sure.

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On 7/18/2019 at 9:50 AM, hegemony said:

FWIW, barclayscard has given the same type of choice to most of its VP and up back office folks in Vegas... move to a new state or get laid off at the end of 2019...

Just wait until much of the Caesars mid- and upper-management gets axed as the El Dorado transaction grows closer to the conclusion...lots of positions to be eliminated and those that stay will likely get to move to Reno (since El Dorado has indicated they intend to operate from the current HQ in Reno).  Should be some properties coming on the market if you were looking to add to a real estate portfolio...

 

(and if you wanted to go BIIIIIIIIG, you could always add The Rio to the holdings LOL!)

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Posted (edited)
46 minutes ago, hegemony said:

 

Hmmm ... San Antonio, Texass.  Let's think for a minute, who else is in San Antonio and does a lot of mortgages? ** 

 

USAA.  USAA's mortgage department is pure sh!t.  I wonder if USAA doesn't outsource their mortgage business to PenFed.  Or could it be the opposite?  Either way, if they are somehow linked then maybe their mortgage staff deserved to get FITA.  

 

** Aside, of course, from a certain Central Texass resident we know who has a b.s. story about owning several properties.  😉

Edited by PotO

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