Share a Fact from Your Job

[billchao]

3 hours ago, Pretzel said:

How does the bank lose money? Is inflation that bad that the 30,000 euros of interest is not enough to cover it? Is it because the bank no longer has that money at their disposal to invest for a potentially larger return on their investment when compared to a mortgage?

I'm guessing it's the latter.

[Abu3baid]

 

4 hours ago, Pretzel said:

How does the bank lose money? Is inflation that bad that the 30,000 euros of interest is not enough to cover it? Is it because the bank no longer has that money at their disposal to invest for a potentially larger return on their investment when compared to a mortgage?

 

52 minutes ago, billchao said:

I'm guessing it's the latter.

I can't imagine that he is talking about lost opportunity in this case.  We talk for example at our company about selling product x to customer with a certain discount, and what we lose in terms of "lost opportunity" if we could sell to another with a lower discount, but this discussion is purely theoretical.  Once we make the sale to the customer with that discount, we wouldn't say that we lost money unless we actually are losing money on the sale its self.

4 hours ago, bubble said:

paradoxal bank fact :

nevertheless the bank might loose money or have à max a 200 euros margin per year.

 bubble specifically says the bank might lose money, it doesn't sound like a theoretical exercise of what could have happened if they had invested in something else.  @bubble can correct me if I'm wrong though.

 

 

 

[Pretzel]

Moreover, why would a bank bother to provide mortgages at all if they are losing money on them?

[adam3553]

I have a couple. 1 gallon of water weighs 8.34 pounds. Wastewater flows through a sewer line at 3 feet per second. Most of the sludge and solids that get treated at a wastewater plant get injected into farmer fields and are a great source of nutrients.

[GolfLug]

On ‎2‎/‎14‎/‎2016 at 3:08 AM, Pretzel said:

How does the bank lose money? Is inflation that bad that the 30,000 euros of interest is not enough to cover it? Is it because the bank no longer has that money at their disposal to invest for a potentially larger return on their investment when compared to a mortgage?

My guess is they 'lose money' terms of loss of more lucrative opportunity only, but that is only if the mortgage term actually goes to full term or anywhere near full. As you know mortgage payments start out as majority interest and then slowly scales to mostly principal towards the end. Most folks wouldn't or don't go to full term (20 years fixed as @bubble mentioned) so for example if you buy and sell in the first 5 years, they will have paid a comparatively astronomical interest up to then compared to the sticker rate of 2.5% over life. The banks do alright since most folks will not go to full term or anywhere near and boy they love new home buyers who scale up (mortgage reset!) within 5-7 years.

Selling money is the greatest business of all. Of course defaulters mess up the apple cart royally but good banks are supposed to vet them out or and still are built into the equation somewhere too.

[ppine]

I am a retired environmental consultant. It was an outdoor career. We had a job in SE Alaska in the bush where it rained 150 inches a year. We were supported by helicopters and saw bears every day. I made a half dozen trips up there of about 3 weeks each. I never saw it get dark and I will never forget it.

[boogielicious]

2 hours ago, ppine said:

I am a retired environmental consultant. It was an outdoor career. We had a job in SE Alaska in the bush where it rained 150 inches a year. We were supported by helicopters and saw bears every day. I made a half dozen trips up there of about 3 weeks each. I never saw it get dark and I will never forget it.

Cool! 

[saevel25]

Since traffic engineering is highly tied to the laws of the state. It's interesting to note that in Ohio there are three levels of criteria that govern where a car should stop at a stop sign. 

1. If there is a Stop Line the car must stop at the line. 
2. If there is no Stop Line then the car must stop before entering a crosswalk. 
3. If there is no Cross Walk then the car must stop before entering the intersecting roadway where the driver has a view of approaching traffic.  

The Stop Sign is not the location you must stop your vehicle. 

By Ohio Law if there is a Stop Line or Cross Walk any area beyond that line is considered part of the intersection. You must stop before entering the intersection. 

For those who just see a Stop Sign. Please pull forward enough such that you do not enter the intersection but you give yourself clear sight distance to vehicles on the the street that does not have a Stop Sign. 

 

 

[jamo]

7 minutes ago, saevel25 said:

Since traffic engineering is highly tied to the laws of the state. It's interesting to note that in Ohio there are three levels of criteria that govern where a car should stop at a stop sign. 

1. If there is a Stop Line the car must stop at the line. 
2. If there is no Stop Line then the car must stop before entering a crosswalk. 
3. If there is no Cross Walk then the car must stop before entering the intersecting roadway where the driver has a view of approaching traffic.  

The Stop Sign is not the location you must stop your vehicle. 

By Ohio Law if there is a Stop Line or Cross Walk any area beyond that line is considered part of the intersection. You must stop before entering the intersection. 

For those who just see a Stop Sign. Please pull forward enough such that you do not enter the intersection but you give yourself clear sight distance to vehicles on the the street that does not have a Stop Sign. 

This has nothing to do with my job or really your post, but someone told me that at least in Massachusetts, making a left on red is technically legal, according to a state police officer.

[saevel25]

17 minutes ago, jamo said:

This has nothing to do with my job or really your post, but someone told me that at least in Massachusetts, making a left on red is technically legal, according to a state police officer.

Not by the Massachusetts revised code. 

Quote

At any intersection on ways, as defined in section one of chapter ninety, in which vehicular traffic is facing a steady red indication in a traffic control signal, the driver of a vehicle which is stopped as close as practicable at the entrance to the crosswalk or the near side of the intersections or, if none, then at the entrance to the intersection in obedience to such red or stop signal, may make either (1) a right turn or (2) if on a one-way street may make a left turn to another one-way street, but shall yield the right-of-way to pedestrians and other traffic proceeding as directed by the signal at said intersection, 

So only going from a one-way to a one-way. This is pretty common law regarding left turns on red. At least in Ohio. 

Sometimes police officers are the least informed about laws. I had a situation yesterday where a guy was asking us if it is legal to drive in the are where cars normally park at meters. The cop wrote this woman a ticket after an accident with this guy because he claimed it was illegal. Yet there is nothing in the Ohio Revised Code defining a parking lane. A lane is the width of the roadway or if marked otherwise (lane lines). We allow parking on the roadway. When no parking is there that part of the road is allowed to be driven upon. 

 

[Pretzel]

Interesting thing to note from my current internship with the NASA Space Grant program is that not all antennae are the metal rabbit ears that you may think of. For example, the antenna used in the satellite project I am working with is actually a composite material machined into what looks rather like a spear (and actually is kept covered with foam at all times when removed from the dish to prevent injuries). I can take an image of it probably by Monday to show what I mean.

On a somewhat related note, most people who've never been in a machine shop don't know how much of a pain (literally) steel can be to work with. When you machine the steel, chips of metal are removed from the part and are flung by the end mill. These chips, due to the fact that they were just ripped from the steel, are quite hot. They then fly through the air, often coming to rest on your arms or shirt, burning you and leaving several smoldering holes in your shirt if the chip is large enough and hot enough. Not as bad as welders who have to deal with dripping slag, but a pain nonetheless.

[iacas]

20 minutes ago, Pretzel said:

On a somewhat related note, most people who've never been in a machine shop don't know how much of a pain (literally) steel can be to work with. When you machine the steel, chips of metal are removed from the part and are flung by the end mill. These chips, due to the fact that they were just ripped from the steel, are quite hot. They then fly through the air, often coming to rest on your arms or shirt, burning you and leaving several smoldering holes in your shirt if the chip is large enough and hot enough. Not as bad as welders who have to deal with dripping slag, but a pain nonetheless.

You won't have hot pieces of metal flung at you when we make the TST ball mark repair tools!

[Pretzel]

1 minute ago, iacas said:

You won't have hot pieces of metal flung at you when we make the TST ball mark repair tools!

That's true, but I do need to get access to the laser cutting machine for those. I am signed up to complete the required orientation course for the use of laser cutters this coming Sunday. I still need to double check if they allow for "personal projects" to be made on the machines, because that is discouraged on some machines. They don't care about how you use the 3d printers, so long as you pay for your own filament, but they do take issue to using the CNC mills for non-academic projects. I'll report back once the orientation is completed.

[CarlSpackler]

The first 1GB hard disk drive was announced in 1980 which weighed about 550 pounds, and had a price tag of $40,000.

[jamo]

3 hours ago, Pretzel said:

On a somewhat related note, most people who've never been in a machine shop don't know how much of a pain (literally) steel can be to work with. When you machine the steel, chips of metal are removed from the part and are flung by the end mill. These chips, due to the fact that they were just ripped from the steel, are quite hot. They then fly through the air, often coming to rest on your arms or shirt, burning you and leaving several smoldering holes in your shirt if the chip is large enough and hot enough. Not as bad as welders who have to deal with dripping slag, but a pain nonetheless.

They can be quite hot, and depending on the material and how much you're machining off, it can get much sharper than you'd expect.

[billchao]

2 hours ago, jamo said:

They can be quite hot, and depending on the material and how much you're machining off, it can get much sharper than you'd expect.

I can attest to both of these facts. On my last job, it would be 95° out some days and I was the only one on the crew working in long pants and a sweatshirt.

Also, they can form really tiny splinters that I had to pull out with calipers.

[Pretzel]

41 minutes ago, billchao said:

I can attest to both of these facts. On my last job, it would be 95° out some days and I was the only one on the crew working in long pants and a sweatshirt.

Also, they can form really tiny splinters that I had to pull out with calipers.

The splinters are awful. I made the mistake of brushing off a part by hand once when I was still pretty new and I was digging metal out of my hand for ages afterwords. Always blow them off with air and properly deburr them before handling.

[Ernest Jones]

If you eat an orange after lunch, no one will know that you're high.