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Topic: RE: JC to Boston College?

Topic: RE: JC to Boston College?

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Alan Swank
General User

Member Since: 12/11/2004
Location: Athens, OH
Post Count: 7,025

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RE: JC to Boston College?

Posted: 4/1/2014 11:33:11 PM

Uncle Wes wrote:

OUVan wrote:

The Optimist wrote:

People thinking a mortgage and car loan are a good idea while taking in 425k every year is why this nation is 17tn in debt. #siberia

You think $425K a year allows you to buy a house without a mortgage?

Save up for a year and buy a 150k dollar home in cash.

$150K won't get you much in Athens. Housing is expensive in this town.

redrustler
General User

Member Since: 1/6/2005
Post Count: 40

Status: Offline

RE: JC to Boston College?

Posted: 4/2/2014 12:13:24 AM

My uneducated guess is that BC is simply casting a wide net in their public statements, but in private they have a few coaches they would really like, and, frankly, I can't imagine JC is towards the top of the list. I know I've said this before, but JC's history is that he does not really elevate the program he inherits.

He inherited a good program at Kent, but really just kept the status quo. He went to TCU, and pretty much did the same as his predecessor. And at Ohio thus far, he certainly does not have the NCAA wins his predecessor did. While we can talk all day about JC recruiting his system, "recruiting his system" did not yield any real tournament success at either Kent or TCU.

So why would BC, a team that is certainly looking to make noise in the ACC, a very competitive league, more so than the MAC, turn to JC, whose history tells us that he does not really advance the ball from the prior coach? Maybe he interviews really, really well, but I would be surprised if BC was really, in their heart of hearts, seriously looking at JC.

OrlandoCat
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Member Since: 3/15/2005
Location: United States
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RE: JC to Boston College?

Posted: 4/2/2014 12:35:08 AM

Deciduous Forest Cat wrote:

Brian Smith wrote:

Anyone who makes $400,000 a year in Athens, Ohio, and has a car loan is a moron.

Not necessarily. Considering how low the finance rates are on new cars, you can possibly earn more interest on the money in a CD or bond or even a high-balance savings acct. you might as well finance the car at a miniscule rate. just because you can pay cash doesn't always mean you should. Plus, you still need to build and exercise good credit for the things you NEED loans for.

Please go look at CD rates and reconsider your financial strategery.

Also, most banks will lend to somebody with a 425k/yr income regardless of what their credit score is.

OUBobcat13
General User

Member Since: 12/7/2005
Location: Cincinnati, OH
Post Count: 285

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RE: JC to Boston College?

Posted: 4/2/2014 7:58:34 AM

I too am surprised with these new revelations. In some ways, this worries me but in other ways, it can be exciting. Admittedly, I was not a JC fan when he was chosen, but have grown to respect him. I don't believe he is the coach to take us to the next level, which is why I'm surprised in BC's interest. I am one who finds coach searches exciting. Because I don't believe JC will take us back to the sweet 16, at least a new coach brings in that potential. I saw that potential in JG. I hope the next coach selection, whoever and whenever that may be, brings that excitement as well.

On another note. Sounds like some of you need to start listening to and reading Dave Ramsey.

Deciduous Forest Cat
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Member Since: 12/20/2004
Location: Ohio
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RE: JC to Boston College?

Posted: 4/2/2014 8:22:45 AM

OrlandoCat wrote:

Deciduous Forest Cat wrote:

Brian Smith wrote:

Anyone who makes $400,000 a year in Athens, Ohio, and has a car loan is a moron.

Please go look at CD rates and reconsider your financial strategery.

Also, most banks will lend to somebody with a 425k/yr income regardless of what their credit score is.

Yes, everyone, I realize CD rates are microscopic these days, I was just making a point that financing is not always bad, and sometimes it's better than tying up a buttload of cash. Hell if car sales stagnate again, zero % financing might be back before long. Wouldn't you be an idiot to NOT take 0%?

Last Edited: 4/2/2014 8:23:43 AM by Deciduous Forest Cat

GoCats105
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Member Since: 1/31/2006
Location: Seattle, WA
Post Count: 6,942

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RE: JC to Boston College?

Posted: 4/2/2014 8:23:35 AM

OrlandoCat wrote:

Deciduous Forest Cat wrote:

Brian Smith wrote:

Anyone who makes $400,000 a year in Athens, Ohio, and has a car loan is a moron.

Please go look at CD rates and reconsider your financial strategery.

Also, most banks will lend to somebody with a 425k/yr income regardless of what their credit score is.

That may have been true in the past, but the credit score is the more determining factor nowadays. What's the point in giving someone who makes $425K a loan if his credit history shows he can't pay it back? Credit history is everything now.

Jeff McKinney
Moderator

Member Since: 11/12/2004
Post Count: 6,053

Status: Online

RE: JC to Boston College?

Posted: 4/2/2014 8:28:35 AM

OUBobcat13: Should a Sweet 16 appearance be the benchmark of whether we have had a "successful" season or not? While I think it's an appropriate program goal to reach the Sweet 16, I don't think we have to take the attitude of "Sweet 16 or Bust."

Look at Gonzaga. I wonder if Mark Few is feeling heat from the fanbase re not reaching the Sweet 16 since 2009?

For a midmajor like Ohio, it's great to reach the Sweet 16 and we should strive to get there again. But it's a very infrequent occurrence...all the stars have to line up re: lack of injuries, good coaching, a veteran mid major team, getting through the mine field of your conference tournament, then getting the right matchups in the NCAA.

Just in talking to people around town here in Jackson and Athens, I do get the impression that now fans "expect" a Sweet 16 appearance and that anything less is unacceptable or "maybe OK but not that good."

Have we gotten so jaded and delusional in our expectations that we consider a season "not that good" if we don't reach the Sweet 16?

A-townBound
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Member Since: 3/31/2012
Location: Georgetown, KY
Post Count: 663

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RE: JC to Boston College?

Posted: 4/2/2014 8:47:02 AM

cc cat wrote:

So all we know is they called and he listened.

Bingo! I may be naive, but I get the impression he is here for the long run...only time will tell.

If this does not go through, I think there may be some truth to that thinking.

Last Edited: 4/2/2014 9:11:29 AM by A-townBound

Bleed Green and GO OHIO!!

whocaresgobobcats
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Member Since: 8/29/2011
Post Count: 519

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RE: JC to Boston College?

Posted: 4/2/2014 9:00:15 AM

@GoodmanESPN: BC has not offered Ohio University's Jim Christian the job yet, but signs pointing towards that direction, sources told ESPN.

rpbobcat
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Member Since: 4/28/2006
Location: Rochelle Park, NJ
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RE: JC to Boston College?

Posted: 4/2/2014 9:20:49 AM

cc cat wrote:

So all we know is they called and he listened.

Hate to be a pessimist,but it also sounds like he didn't say "not interested"

71 BOBCAT
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Member Since: 12/20/2004
Post Count: 1,854

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RE: JC to Boston College?

Posted: 4/2/2014 9:22:42 AM

Let's face it...this is a big time opportunity with big compensation implications, like going from $425k to $1.250MM.
In addition to the salary there are other perks, like team flyes on private jets to all games more than 3 hour bus rides, better facilities, better incentives, apparel contract incentives, radio & tv exposure compensation etc.
It's very hard to turn down that kind of money, no matter how much you SAY you love it hear at Ohio.
AD already has his list of replacement canidates. Jeff Bowles is my choice.

GO BOBCATS

Last Edited: 4/2/2014 9:29:41 AM by 71 BOBCAT

A-townBound
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Member Since: 3/31/2012
Location: Georgetown, KY
Post Count: 663

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RE: JC to Boston College?

Posted: 4/2/2014 9:26:02 AM

Granted this is who they think BC should consider, but this article from the Boston Globe today does not even mention Jim Christian -

http://www.bostonglobe.com/sports/2014/04/01/needs-make-splash-with-basketball-coaching-hire/UeRbAjzo6NkZdTfJgc06kM/story.html

Bleed Green and GO OHIO!!

Andrew Ruck
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Member Since: 12/22/2004
Location: Columbus, OH
Post Count: 4,720

Status: Online

RE: JC to Boston College?

Posted: 4/2/2014 9:30:05 AM

The expert financial advice in this thread is making this CPA cringe. Thank you Brian and Optimist for inserting some common sense.

Bothering with a car loan when you make nearly a half mil a year? Come on. The theoretical return of your mystical CD or other liquid investment over the cost interest is no sure thing, and miniscule...and in return you don't hold the title to your car and have to deal with a monthly payment and have one more relationship with an idiot lender.

If you're holding on to your mortgage for a tax savings, that is just straight up dumb. "Hey look at me, I saved $3 by spending $10!"

No payments = No risk, absolute freedom, and a simple and clean life. No debt is always the best option, 100% of the time.

Andrew Ruck
B.B.A. 2003

OU_Country
General User

Member Since: 12/6/2005
Location: On the road between Athens and Madison County
Post Count: 8,321

Status: Offline

RE: JC to Boston College?

Posted: 4/2/2014 9:49:09 AM

Jeff McKinney wrote:

Have we gotten so jaded and delusional in our expectations that we consider a season "not that good" if we don't reach the Sweet 16?

If you have this opinion, then you need your head examined about reality (not you Jeff, obviously). Of course it's been talked about over and over, but the goal for the program, to me, should be to be one of the Top 2 teams going to Cleveland, and win the conference tournament. That should define "success". If you get to the dance, as always, it's about match ups, and nothing more. From a fan perspective, expecting to get to the Sweet 16 coming out of the MAC is crazy talk right now. Look at the 2012 Ohio Bobcats and the 2014 Dayton Flyers for evidence.

Andrew Ruck wrote:

The expert financial advice in this thread is making this CPA cringe. Thank you Brian and Optimist for inserting some common sense.

Bothering with a car loan when you make nearly a half mil a year? Come on. The theoretical return of your mystical CD or other liquid investment over the cost interest is no sure thing, and miniscule...and in return you don't hold the title to your car and have to deal with a monthly payment and have one more relationship with an idiot lender.

If you're holding on to your mortgage for a tax savings, that is just straight up dumb. "Hey look at me, I saved $3 by spending $10!"

No payments = No risk, absolute freedom, and a simple and clean life. No debt is always the best option, 100% of the time.

Amen! When I'm looking at my family debt, there are only two kinds that I consider acceptable: Mortgage & school loans. The preference, however, would be for zero debt. It's why buying/leasing a new car every 3 years is madness short of two situations in my opinion: 1) you're writing it off/paying for it through your business 2) you're paying cash for it.

Last Edited: 4/2/2014 9:49:41 AM by OU_Country

Jeff McKinney
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RE: JC to Boston College?

Posted: 4/2/2014 9:53:27 AM

I know bobcatattack.com is kind of a weird place, but the hijacking of this thread into a seminar on financial investments is truly bizarre.

Not Siberia-worthy, though...

OTOH, I continue to be amazed by the level of erudition on a wide range of subjects by our participants. And I'm not being sarcastic.

colobobcat66
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Member Since: 9/1/2006
Location: Watching the bobcats run outside my window., CO
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RE: JC to Boston College?

Posted: 4/2/2014 9:53:43 AM

OrlandoCat wrote:

Deciduous Forest Cat wrote:

Brian Smith wrote:

Anyone who makes $400,000 a year in Athens, Ohio, and has a car loan is a moron.

Please go look at CD rates and reconsider your financial strategery.

Also, most banks will lend to somebody with a 425k/yr income regardless of what their credit score is.

depends on their debt status, if they owed $200,000,000, would they still lend them money?

Last Edited: 4/2/2014 9:54:42 AM by colobobcat66

bobcat695
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Member Since: 12/20/2004
Location: Parkersburg, WV
Post Count: 1,345

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RE: JC to Boston College?

Posted: 4/2/2014 9:55:49 AM

Some of you might not realize people upgrade their standard of living when they earn more. They are the ones buying expensive houses and luxury cars. While Dave Ramsey might cringe at the thought of someone financing a $750,000 house at less than 3% instead of living well below their means and driving an Accord, most people in that income range simply do not do that. They prefer to enjoy some luxuries along the way. To do that means they delay being completely debt free until closer to retirement age. Take a look at a physician's personal balance sheet at age 45 some time.

There are a lot of factors that would cause me to advise against paying off a mortgage really early. People should save 20% of their income. Most of the country can't afford to put the maximum (17K) into their 401(k) each year. Someone that makes $500,000/yr does that easily by saving 3.5%. They may choose to invest the other 50-60k of recommended savings in a portfolio instead of rushing to pay off their house. A house is an illiquid asset, which you need to use for your entire life. Most sophisticated financial plans account for rapid debt reduction, but not at the expense of eliminating wealth accumulation on the asset side of the balance sheet. Then again, what do I know?

"You can't un-fist a fist pump." - Saul Phillips 1/24/15

Casper71
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RE: JC to Boston College?

Posted: 4/2/2014 10:16:46 AM

I find it difficult sometimes to agree with the Dave Ramsey's of the world who say "no debt ever". Why not take that $25k car loan and finance it at 0% over 5 years. You can invest that $25k in a conservative group of funds and over five years average between 7-10% return. So, you end up with $1,750 on that invested money per year for each of the five years.

No matter what "debt free" folks at all costs think, this is an environment where borrowers have the upper hand because borrowing rates are cheap and savings rates are lousy. Just another reason why you cannot be tied to one financial philosophy for all time. Oh, and agressive money investing would ahve gotten you over $7500 last year. That's not peanuts to walk away from because your philosophy is "debt free"! You have to analyze the times and crunch the numbers.

Oh, I am a CPA too

C Money
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RE: JC to Boston College?

Posted: 4/2/2014 10:25:07 AM

If JC leaves, I will coach our basketball team for one fifth of what he makes now, and I will figure out a way to live in a reasonable house within walking distance to Court Street.

I make no guarantees about success on the court, though.

cc-cat
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Location: matthews, NC
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RE: JC to Boston College?

Posted: 4/2/2014 10:30:47 AM

C Money wrote:

If JC leaves, I will coach our basketball team for one fifth of what he makes now, and I will figure out a way to live in a reasonable house within walking distance to Court Street.

I make no guarantees about success on the court, though.

On the basketball court....or on Court Street?

cincybobcat99
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Post Count: 192

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RE: JC to Boston College?

Posted: 4/2/2014 10:35:34 AM

Casper71 wrote:

Oh, I am a CPA too

Can we all agree that if you are lucky enough to have to decide between paying cash for your luxury car and house, you are better off than most...and just end this conversation?

Pataskala
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RE: JC to Boston College?

Posted: 4/2/2014 10:38:43 AM

Meanwhile, back at the ranch, the Boston Globe ran an interesting article on the need for "sizzle" in the next coach. The author, Gary Washburn, doesn't see that in any of the names being bandied about. He mentioned another Christian as a good candidate -- Jamion, who is at Mt. St. Marys and is from the Shaka tree.

One thing to take from this -- we likely will not know until after the weekend. The BC AD is at the Final Four to beat the bushes in Texas (no, not those Bushes) and might not decide until later. Remember, JC was hired after Schaus spoke with him at the Final Four two years ago.

We will get by.
We will get by.
We will get by.
We will survive.

Paul Graham
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Location: The Plains, OH
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RE: JC to Boston College?

Posted: 4/2/2014 11:12:54 AM

Jeff McKinney wrote:

I know bobcatattack.com is kind of a weird place, but the hijacking of this thread into a seminar on financial investments is truly bizarre.

Not Siberia-worthy, though...

I take this as a challenge from Mr. McKinney. And for that reason, I blame Obamacare for all of this. That's why JC is leaving our big government, state funded school for a private college. He knows that healthcare will bankrupt the state before he has a chance to bring us back to the sweet 16!

jumper80
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RE: JC to Boston College?

Posted: 4/2/2014 11:16:58 AM

bobcat695 wrote:

What are we doing? While the above is well done. I have been in the business of Financial planning for a long time.
I am pleading with my fellow BA posters in the name of all that is holy can we get back to basketball related items.
Money and how to handle it rivals politics and religion as a subject matter IMHO

Shouldn't all the CPA types be particularly busy right about know? :)

So .....I hear Christian has pulled his name out of consideration.

Mark Lembright '85
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Member Since: 8/22/2010
Location: Highland Heights, OH
Post Count: 2,447

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RE: JC to Boston College?

Posted: 4/2/2014 11:23:54 AM

Quote:

So .....I hear Christian has pulled his name out of consideration.

Are you serious? Sorry, leftover April Fool's Day hangover......

Last Edited: 4/2/2014 11:24:10 AM by Mark Lembright '85

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