Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

See, oh dear.

Hank Paulson from a starting point of .We believe in free markets the rhetoric was quickly adjusted.except that the government may need to intervene to prevent the collapse of the financial system.then insurance companiesthen carmakers. Housebuilders.Starbucks.why the fu*k dont he give every single person in USA a million bucks and be done with itits a joke system with an electronic jackanory merry-go-round! Where is all this money coming from?

Probably the wrong thread but....

This sorta kinda stinks a bit, I think. Plus there's a whole pile of political hoo-ha to do with it from Scottish Gordon Brown on the one hand (not forgetting his hoppo Alistair Darling, our dear Chancellor - who, together with the FSCS, have both rescued my Icesave funds (God bless them and may Allah be praised too)

And then there's the Scottish lot of politicians and bankers too, who are also kicking up a sword dance with a very angry flash from under the kilt.

Struth! What am I on about? Ah yes! It's this.

Just in:

George Mathewson and Peter Burt, former chief executives of Royal Bank of Scotland and Bank of Scotland respectively, want to take temporary management control of HBOS and consider alternative options for the bank.

'A properly recapitalised, properly run and independent HBOS appears to be in the interests of the shareholders, its employees, its customers and all stakeholders, avoiding the dangers of an anti-competitive over-mighty leviathan,' Burt and Mathewson said in a press release on Wednesday.

'HBOS shareholders are entitled to know the basis for the board's decision and why the board decided not to seek this route as opposed to simply selling out,' Burt and Mathewson said.

HBOS said the statement added nothing to a previous letter that was unanimously rejected by its board, and it is pushing ahead with the Lloyds deal. 'They are not providing anything tangible for shareholders or any certainty,' a spokesman for the bank said."

Hmmm? Yes. It is all a bit 'Hush Hush' as to 'Why?' isn't it?

Mind you, for me at the moment, Gordon Brown can do no wrong, nor Alistair Darling either. But it doesn't necessarily stop me talking to myself.

A Nanny state? What makes me think that!

'Residents in a block of flats have been told to get rid of their welcome mats - because they are a trip hazard.

Council bureaucrats said the mats posed a 'health and safety risk' and have ordered them to be removed.'

http://www.dailymail.co.uk/news/article-1086434/Council-tenants-banned-having-welcome-mats--health-safety-trip-hazard.html

I hope it was after a few of them actually tripped over them and then fell headlong down the stairs and rolled under a car into the freezing cold river and then out to sea and got eaten by a shark.

One thing that is really beginning to cause me concern , is this withdrawal of credit insurance thingy. It's mentioned in today's Trading thread and the link to the article is

A Labour MP has warned of a "looming disaster" on the high street as insurance firms have abruptly withdrawn vital credit coverage for suppliers to some of Britain's biggest retail chains.
Fears for high street retailers over lack of credit insurance

I'm just about to start shopping for stuff to fill a residential property, bought cheaply at auction recently. I need all the usual kitchen stuff: oven, hob, fridge/freezer, washer/drier. Then there's carpets, curtains - and maybe some sticks of furniture too.

What the withdrawal might mean, is that if you order something online or even out of a store, and the retailer hasn't actually got it in stock, then the manufacturer or wholesaler might decide to refuse to supply your supplier. He could simply fear he might not get paid. Bang! No goods yet matey! Pay up front or you don't get your delivery!

This starts a chain. The chain is long and then it snaps. Then there is a 'Fire Sale'. Then it pluralises. Then there is unwanted stuff everywhere - a glut. And it takes years to shift. And then I might even die before I can get the curtains for the property. And the kitchen has an oven and no hob , because there's that many of them I can't make my mind up which to buy because they're all so cheap and I can't buy it anyhow, because I died too soon. Bummer!

This is serious stuff.

Exec, if you need kitchen units try & open a trade account at Howdens - the stuff there is really good value and well made too. We're just about to redo our kitchen with their units & our man pointed us in their direction.

Now I happen to think that GB is probably the best man for the job at the moment. I think, along with most of the world, that he is more visionary than most in these troubled times.
But I think his sidekick, Mr Darling, would be better off back in a Peter Pan story.
What a great idea he has had. SLASH VAT, by 2.5%.
I did a quick fag packet calculation and have concluded that my fag packet is more accurate than his calculator, which I assume is eastern european 1965 "glorious revolution anniversary" model, as copied by Daewoo. The figures don't work.
The saving on our spending would be huge. A whole 2.5% reduction in our weekly costs, except that everything we spend a fair bit on (mortgages, insurance, kids clothing, basic foodstuffs and even fuel) are either exempt or at a reduced rate anyway.
Total weekly savings in my family are about 1.70. Now given that my gas and electric bills have gone up by approximately Elton Johns flower budget, this hardly makes me better off. When you add in the fact that this is a budget announcement and my fags and booze will go up by the price of a first class round the world air ticket, I feel a little less than flushed by it.
Mr Darling would be better off resigning now and concentrating on growing truly outstanding facial hair. Hes good at that.
Meanwhile, someone with ideas could come up with a stonker. Something like the government guaranteeing all current secured debt, and securing it through the taxation system as recoverable by lower tax allowances for those who default and charges over the property the loan is secured on.
Surely this would encourage the lenders to lend again within government guidelines and free up a population to relax a little and invest and spend again.
The government have been happy for years to guarantee loans for students to study Abba, knowing they will probably never get it back, and to guarantee loans for small businesses, knowing they will never get it back, all for the benefit of society. How about guaranteeing loans they know they will get back, one way or another. Suddenly, mortgage loans (the cause of all this) become gilt edged.
Anyone any better ideas, otherwise Mr Darling might suggest an extra sixpence is placed in all Christmas Puds to boost the economy a bit more.

Well I could not afford a new phone at 235.but being it is now only 229-12p I am going to have a couple.

Everything in this next budget is from Gordon Brown. Alistair Darling is like most chancellors, just the mouthpiece of the PM, although when GB was chancellor he had a lot more say than AD has.
As to GB being the best man for the job, well there does not appear to be a real leader among the pathetic lot of them, so possibly, but he could also on past record be the worse.
Although this financial crisis is global, it is the scale of its effect on this country that is the fault of GB. He is like the driver that pinches your car, drives it of a cliff then comes up with ideas to fix it. Over the last couple of months he has told us many times that he has our interests at heart. Yer Right.
This is the man who pick pocketed our pensions through stealth, just as his promise not to increase taxes. I doubt he can lie straight in bed.
Whilst appreciating we now have to spend to buy our way out of trouble, I am certain that whatever they propose will be yet another monumental cock-up.
What happens in a few years when due to the proposed bringing forward of development projects, people bringing purchases forward due to lower VAT with supposed cuts in taxes etc, when the government starts to real in the payback, via higher taxes. This will no doubt be at a time when productivity in all areas again contracts due to less demand. After all if this (I have a cunning plan) works we will all have bought our new cars, TV's, washing machines, etc, so the demand will again slide.
Once you make things easier to buy, as the never ending lending boom of the 90's and early years of this millennium did, more boom and bust is inevitable.
I'm sure if GB had been the captain of the Titanic he would have been the first one into the lifeboats, waiting for those lucky enough to be saved, to give him a rousing cheer for saving them from drowning.
Gordon Brown and Tony Blair before him (now he really knew when to jump ship, he must have seen the iceberg coming miles away) have done more re their governments policies on Finance, Immigration, Health, Education and a multitude of other disasters, to ruin this country than any government of the last 50 years.
We have been sold down the river by this undemocratic, two faced, immoral group of so called honourable members of parliament.
At least when Baldrick had a cunning plan he had Blackadder to point out reality. Who as GB got?
Rant over. Well till next time anyway.

Labour overspend on stupid things !.....there is nothing left in the kitty, the meaning of building up a piggy bank for the country....it just doesn't enter their minds !.....I don't want to sound too right wing but it is like the people that spend all their hard earned cash on holidays and booze in the pub and then wonder why they cannot afford to change their car, and have to borrow more, Labour are the same....the Conservatives will need two parliaments to turn this situation around !.

Is this a scam.

I have sent an E-Mail to a company who's share price is slipping mainly due to delays in delivery. I have shares in this company already.

I have just received this reply.

Dear Sir,

We must apologise re further delays that are beyond our control.
The ship carrying the products to the site in Germany, left on Friday last. Unfortunately this ship was high jacked by Somalian pirates, who because of the increased naval activity off the Somalian coast, have now moved to target the north sea and English channel.
They have also been informed by civil rights lawyers that if they are arrested in British waters they will if they request political asylum, be granted leave to stay, be given jobs and somewhere to live. If they on arrest agree to return to their home land under our voluntarily repatriation scheme, all charges would be dropped (as all prisons are full to overflowing) and they would be given a sum of 6,000 as this would save the tax payer money, (sic).
As there has been no government release re this due to the risk of panic, we appreciate that you may not believe our statement, but we can assure you the ship carrying the product is being held for ransom.
In the present financial situation the company can not afford to pay this ransom which is set at 100,000 or 5,000,000 shares in the company.
As we expect, as we are sure you do the share price to reach 1 plus (they are presently valued at 2.25p) as soon as they reach their designation, reaching 2 plus on successful installation, we have declined this route.
We therefor intend to offer a rights issue to ALL existing shareholders in order to raise the required ransom.
We urge you to take this opportunity of a lifetime.
Please remember that the price of shares can go down (sic again) as well as up.
E-Mail ends.

On research I have found that all investments in this company are backed by an Icelandic bank insurance bond. The UK government and the FSA have assued me that this Icelandic bank is 100% safe. Several councils also have money invested. So on that basis I am looking at any rights issue favourably.

Advice please.

50 SAS to into action asp.......I'll deal with those pirates quickly....bunch of weak prats in power !, try talking to the foreign office and see if you can get any sense (I doubt it !).

Required Field,

Agree 100%. This country is so weak when dealing with other countries that walk all over us that we are the laughing stock of most such countries.
I read last week that we pay 6000 to any immigrant that has been denied leave to stay, if he volunteers to go home, as they say it costs double that to forcibly return them. 6000 is often more than they would earn in their own country over 10 years. What an incentive to come here. What do they have to loose.
As they have already been denied leave to stay by the courts (at considerable expense no doubt) why not just charter a plane and dump them.
If Easy jet, Ryanair etc can fly you half way round the world for less than 100, surely we should stop patsying about and get tough.
When I look at some instances where such a person and their family have been kept by the state at a cost of more than the total income tax I have paid in my working life of 46 plus years, as well as other taxes paid in my life time, it makes me go into deep despair.
It is wasn't so pathetic it would be funny.

Pre Budget statement,

Obviously something drastic needed to be done. There looks to be several items that may just boost the economy, such as the decrease of VAT, delays in several taxes as well as the increases in pensions, child and other credits.
It would be impossible to increase the amount put into the economy over what has been announced. BUT where was the detail in the 5,000,000,000 that are to be saved by cutting wasteful government expenditure. This government being the world best class act of spin, gave the usual platitudes to this move, IE told us nothing. What was needed to boost confidence in businesses and the financial markets was this detail. There was no mention of cutting waste in the civil service type jobs especially in the quangos. Jobs such as these that are still increasing by thousands each month are none productive. If vast cuts were made in theses areas by drastic measures as laying them off, this would result in huge cost savings as unemployment payments would be far lower than their salaries.
Also no mention of the gold plated government and other none contributors final pensions, something obviously off limits.
Of course turkeys don't vote for Xmas, do they.
Until the general public at large see the government taking drastic action in their own back yard confidence will be yet just another government 'speak' word that starts to be rolled out at every opportunity as did prudence.
Prudence as we all know is dead and buried, the problem is without her GB looks even down in the mouth.
Funerals are expensive. With GB and AD in charge or the arrangements, it will be the mourners (us) footing the final bill.
As to the massive loans that have now to be arranged on the world markets. Just how certain are they that they are obtainable. There will be so many government bonds in the markets surely the perceived values must be over proposed values.
We have seen huge discounts in the shops of late, who wants to bet that to gain the markets in bonds they also will have to be sold at discounts to the market.
All IMHO of course.

In an economy that is hitting retailers very hardhas the government given any thought to the cost of reprising goods particularly clothing that is mass produced and ticketed well in advanced how is the vat going to come off?.could ask the wife I supposeany thoughts anyone?
RFI dont think the conservatives are going to get a chance to turn things around unfortunately.and I say that with much regretDavid Cameron is not the man for the jobI have seen him put under very minor pressure and he is cluelessthere is a Tory capable and I hope they change their leader but I think not!

Also there have been several reports this morning stating that goods production won't increase for several months even if sales increase by several percent immediately. This is due to there being huge stockpiles of these good. You only have to see the huge stockpiles of vehicles spread round the country, as just one example. The big problem is any economy boosting move takes time to trickle through. Lets just hope the good ship GB does not sink before the lifeboat reaches it.

2.5% for 13 months is a complete waste of time. It should in a change be made permanent, small retailers will have to change a lot of labels.....or more probably won't bother. Are you really going to go and buy that big electrical item now because vat has been reduced by a minimum ?, I know that for vat that this is as low as the EEC will permit, but the 12 billion pounds that the state will lose should have been put to better use !, we need to see the back of this government as soon as possible : they are a disaster !.

This government are always going for the quick fixes !, what on earth is the point of cutting personal allowances and a one off extra money for pensioners ?, pensioners want a steady increase ! god knows they deserve it !, (the 2nd world war generation in particuliar), what they give with one hand they take away with another !.....the 12 billion pounds would have been better put to use by helping to do away with tax or some tax on pensions !, why give a pension with tax ? absurd !.

Exactly right. Also taking vehicles again for example, who in their right mind if considering a purchase would buy now prior to the VAT reduction on Monday, OK its less than a week away, so not too important. No doubt this weekend will be the quietest for retailers ever.
But fast forward a year and those planning to buy say in 2010, and many people do plan that far ahead, will bring their purchases forward to save quite a bit of cash, (375 on a 15,000 vehicle), and many mid range vehicles cost more than 15,000. No doubt 2010 will have manufacturers and retailers either laying off staff or stock piling again. Sound like boom for 2009 and bust for 2010.
Also as the pundits have pointed out, this is a very labour left wing budget. There is now even less incentive due to increased tax credits for those out of work through choice to get of their back sides to find work.
As to the proposed increases for those earning 140,000 plus etc, I am old enough to remember when the highest rate on income tax was increased to 50%. This resulted in so many high earners either leaving the country physically, transferring so many businesses abroad, or/and so many cash assets that the government eventually realised they were killing the goose that lay the golden egg.
These so called rich are needed even more when recessions bite than they are in the good times.
Yes the more you earn the more you should pay, and they do. You can only squeeze so much.
Without those huge reductions in government waste, Boom and bust will still rule.
If ever there was a budget planned soley for an election, this is it.
At least if/when the Conservatives are elected, Labour will have great difficulty blaming them for not cutting taxes, as they will have little choice but to work from Labours mandate for several years.
This mess started as we know with those toxic debts that were bought and re sold without anyone really understanding what was in the package.
Looks like this government have changed the game somewhat to pass the parcel of budget debt.
The games the same but the toxic contents have changed.
Going to lie down now. The Valium (is there VAT on it) is starting to kick in.