Just weeks after being bailed out by the British tax payer to the tune of billions of pounds, the Northern Rock are paying most of their staff a 10% bonus.
At the time when unemployment is rocketing towards 3 million and many more are facing pay cuts or short time working - the bonus is breathtaking in its arrogance.
Folk are right when they say "once a banker, always a banker!"
Thursday, 22 January 2009
Thursday, 16 October 2008
Gordon Brown and Margaret Thatcher
What have they got in common!
Actually - not a lot.....but after a short while in office they were both loathed by the good folk of the UK and on their way out!
But - in 1982 and in the nick of time along came the Falkand's War victory which kept Maggie in power for another 8 years.
And history of a sort is repeating itself....the Worlds Bankers are hanging on Gordons every word.
You never know - he might just win the next general election!
Actually - not a lot.....but after a short while in office they were both loathed by the good folk of the UK and on their way out!
But - in 1982 and in the nick of time along came the Falkand's War victory which kept Maggie in power for another 8 years.
And history of a sort is repeating itself....the Worlds Bankers are hanging on Gordons every word.
You never know - he might just win the next general election!
RYANAIR - Squeezing the punters
I watched no-frills cheapo airline Ryanair's Chief Executive Mr Michael O'Leary on BBC Television's "Watchdog" program this week.
The arrogance of Mr O'Leary was nothing short of breathtaking.
I have now joined the army of his ex passengers who can't wait for Ryanair to go pear shaped!
The arrogance of Mr O'Leary was nothing short of breathtaking.
I have now joined the army of his ex passengers who can't wait for Ryanair to go pear shaped!
Investing in Iceland Banks
British local Councils and Charity organizations have admitted to putting almost 1 Billion UK pounds of taxpayers hard earned cash at risk by gambling on higher interest returns in Icelandic Banks.
Captain Mushroom smells a smell that makes doggy doo-doo smell like a Paris perfume house.
The finance chiefs of Councils throughout the UK did not wake up one morning and suddenly decide to invest in Iceland - I believe that they were told to.
Somewhere in the world, probably lounging on a $10 million luxury yachts are the salesmen that sold the idea of Icelandic Banking to our gullible local authorities.
I smell huge commission cheques and double dealing but I suspect that the real truth will not bear close scrutiny.
Questions I ask.
1] Why did Local Councils who claim to be struggling to fund their parasite staff 's indexed linked pension schemes have the wherewithal to stash millions of our cash away and then tie it up on three year terms? Shouldn't these same Councils be improving local services including social housing, street cleaning , the Police & Hospitals?
2] What the hell are Charities doing the same for? My concept of Charities is that good generous townsfolk give what they can afford to help the poor and needy and the Charities then shovel the cash out to these folk all over the World.
3] Where is our cash now?
Where else in the world has our cash been put - please don't tell me Chile or Cuba or Outer Mongolia....for God's sake why not put our cash in British Banks - is that too much to ask?
I hope that when the dust finally settles on the Icelandic Banks problems that full inquiries will be held and the incompetents made to pay!
Captain Mushroom smells a smell that makes doggy doo-doo smell like a Paris perfume house.
The finance chiefs of Councils throughout the UK did not wake up one morning and suddenly decide to invest in Iceland - I believe that they were told to.
Somewhere in the world, probably lounging on a $10 million luxury yachts are the salesmen that sold the idea of Icelandic Banking to our gullible local authorities.
I smell huge commission cheques and double dealing but I suspect that the real truth will not bear close scrutiny.
Questions I ask.
1] Why did Local Councils who claim to be struggling to fund their parasite staff 's indexed linked pension schemes have the wherewithal to stash millions of our cash away and then tie it up on three year terms? Shouldn't these same Councils be improving local services including social housing, street cleaning , the Police & Hospitals?
2] What the hell are Charities doing the same for? My concept of Charities is that good generous townsfolk give what they can afford to help the poor and needy and the Charities then shovel the cash out to these folk all over the World.
3] Where is our cash now?
Where else in the world has our cash been put - please don't tell me Chile or Cuba or Outer Mongolia....for God's sake why not put our cash in British Banks - is that too much to ask?
I hope that when the dust finally settles on the Icelandic Banks problems that full inquiries will be held and the incompetents made to pay!
Thursday, 18 September 2008
TESCO's - who's kidding who?
Tesco's latest wheeze is to tell customers that they are "helping them to spend less every day"
They must be joking.
What Tesco's want is for punters to spend every penny that they have in their purse.....and it wont be long before they put plastic buckets by the exits doors telling folk to lob their loose change in!
They must be joking.
What Tesco's want is for punters to spend every penny that they have in their purse.....and it wont be long before they put plastic buckets by the exits doors telling folk to lob their loose change in!
Wednesday, 17 September 2008
Global Financial Meltdown
The worlds financial markets have been reeling from the collapse of major companies this week.
I can't get my head round a situation where on Monday a company is worth many billions of dollars and the very next day its filing for bankruptcy.
That smacks of the level of gross ineptitude that only governments are capable of.
Major World Banks, Insurance companies and Airlines have all called in the liquidators this week.
I find it bizarre that the very same bankers who, with an eye to their big fat greedy bonuses running into millions of dollars, recklessly give away fortunes to the sub-prime mortgage market, yet a scientist who is developing a life saving piece of kit struggles to get bank funding of just a few thousand dollars.
The underlying theme to all this is Greed and Incompetence and the "old boys network"
One airline boss appeared on TV this week in the wake of his companies collapse leaving thousands of angry fare paying passengers stranded around the world blaming the oil price, the credit crunch and everything else he could think of.
Not once did I hear him own up and admit that his company failed because of his incompetence.
I am cheered by the thought that bank managers terrified by the distinct possibility of losing their jobs and fat cat pensions, are feeling the same stress's and strains that small businessmen feel everyday of the lives.
I can't get my head round a situation where on Monday a company is worth many billions of dollars and the very next day its filing for bankruptcy.
That smacks of the level of gross ineptitude that only governments are capable of.
Major World Banks, Insurance companies and Airlines have all called in the liquidators this week.
I find it bizarre that the very same bankers who, with an eye to their big fat greedy bonuses running into millions of dollars, recklessly give away fortunes to the sub-prime mortgage market, yet a scientist who is developing a life saving piece of kit struggles to get bank funding of just a few thousand dollars.
The underlying theme to all this is Greed and Incompetence and the "old boys network"
One airline boss appeared on TV this week in the wake of his companies collapse leaving thousands of angry fare paying passengers stranded around the world blaming the oil price, the credit crunch and everything else he could think of.
Not once did I hear him own up and admit that his company failed because of his incompetence.
I am cheered by the thought that bank managers terrified by the distinct possibility of losing their jobs and fat cat pensions, are feeling the same stress's and strains that small businessmen feel everyday of the lives.
Tuesday, 26 August 2008
Offshore Call Centres in India
I wonder how much money companies who make UK staff redundant in favour of call centers in India actually think they are saving.
Let us imagine that a company saves 500 jobs in the UK at say, £20,000 per employee difference in salary.
That's a maximum of £10 million saved per year.
Add back into that the cost of training in India plus the telecom equipment re-routing on-cost.
Take out the hidden cost of customers that say - "I love India and the Indian people but I want my service provider to have UK staff understanding the British way of doing things "- and get up and leave.
Are the managers of the already fabulously wealthy companies that move their first-line service centers offshore doing the right thing just to save a measly few quid a year?
Let us imagine that a company saves 500 jobs in the UK at say, £20,000 per employee difference in salary.
That's a maximum of £10 million saved per year.
Add back into that the cost of training in India plus the telecom equipment re-routing on-cost.
Take out the hidden cost of customers that say - "I love India and the Indian people but I want my service provider to have UK staff understanding the British way of doing things "- and get up and leave.
Are the managers of the already fabulously wealthy companies that move their first-line service centers offshore doing the right thing just to save a measly few quid a year?
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