Virgil Caine

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  1. Cheers
    Virgil Caine reacted to maynardgravy in Muslim parents lead group of 300 in protest outside school gates against equality lessons on homosexuality and gender   
    This is the real crux of the issue though:

    '...is it ok for your children to be gay?...'
    Er, yeah, of course it is. I'm with them that I'm not in favour of this being addressed in primary school. But there it is in black and white... a religious idealogical group-think hatred of gays at the center of their beliefs.
    Oh, and as for the 'No Indoctrination' chants: are they really that thick they can;t see the irony?
  2. Agree
    Virgil Caine got a reaction from Van Lady in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    Fucking amateurs.
    If the people running HS2 had been in charge they would have got the bill for the design of the bridge alone over £1 billion.
    Surely the Garden bridge project managers could have suggested that it would
    Reduce the north south divide Cut journey times from London to Birmingham by 10 minutes Add capacity to the transport infrastructure Prove Britain can still do big infrastructure projects Supply vitally needed jobs post Brexit Or whatever other bollocks is needed to keep a publicly funded gravy train operative until the taxpayer has been cleaned out. 
    Alternatively they could have described it as the Digital Garden Bridge being developed using Agile Methodology then no one would have expected anything more than endless meetings to deliver a few static web pages with no functioning product at eye watering cost.
  3. Agree
    Virgil Caine got a reaction from Carl Fimble in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    This is a small scale looting of the public purse compared to some of the things going on.
  4. Agree
    Virgil Caine got a reaction from Carl Fimble in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    This is a small scale looting of the public purse compared to some of the things going on.
  5. Agree
    Virgil Caine got a reaction from Van Lady in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    Always the case.
    Helicopter money for blue sky vapour ware projects but nothing for legacy systems or infrastructure that people actually use.
  6. Agree
    Virgil Caine got a reaction from Carl Fimble in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    France by the look of it.
    The figures show that 40% of the money, £21.4m, went to the French-based contractors Bouygues. 
    https://www.theguardian.com/uk-news/2019/feb/13/garden-bridge-charity-spent-535m-with-no-construction-tfl-finds
    No surprise that Bouygues are balls deep in HS2 as well 
    https://www.theguardian.com/business/2017/jul/17/hs2-high-speed-rail-contracts-worth-66bn-awarded-uk-chris-grayling
  7. Agree
    Virgil Caine got a reaction from Van Lady in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    Always the case.
    Helicopter money for blue sky vapour ware projects but nothing for legacy systems or infrastructure that people actually use.
  8. Agree
    Virgil Caine got a reaction from Van Lady in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    Always the case.
    Helicopter money for blue sky vapour ware projects but nothing for legacy systems or infrastructure that people actually use.
  9. Agree
    Virgil Caine got a reaction from Van Lady in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    Always the case.
    Helicopter money for blue sky vapour ware projects but nothing for legacy systems or infrastructure that people actually use.
  10. Agree
    Virgil Caine got a reaction from Van Lady in Vanity project let rip or massive fraud and nepotism: the tale of the bridge that never was   
    Fucking amateurs.
    If the people running HS2 had been in charge they would have got the bill for the design of the bridge alone over £1 billion.
    Surely the Garden bridge project managers could have suggested that it would
    Reduce the north south divide Cut journey times from London to Birmingham by 10 minutes Add capacity to the transport infrastructure Prove Britain can still do big infrastructure projects Supply vitally needed jobs post Brexit Or whatever other bollocks is needed to keep a publicly funded gravy train operative until the taxpayer has been cleaned out. 
    Alternatively they could have described it as the Digital Garden Bridge being developed using Agile Methodology then no one would have expected anything more than endless meetings to deliver a few static web pages with no functioning product at eye watering cost.
  11. Agree
    Virgil Caine got a reaction from Frank Hovis in Why are the So-Called BBC such arseholes?   
    Complaining about things that happened 10 generations ago.
  12. Agree
    Virgil Caine got a reaction from null; in Grauniad out-BBCs the So-Called BBC   
    People tend to read articles that support their own political predelictions and inform their prejudices. It is not anything new.
    Incidentally I am pretty sure that we are heading for a recession but that is likely to be worldwide and will have almost nothing to do with Brexit.
     
  13. Agree
    Virgil Caine got a reaction from Frank Hovis in Wheels coming off HE bubble   
    Cardiff University in deficit. Cutting 380 jobs
    https://www.bbc.com/news/uk-wales-47205659
    University of Kent doing the same
    https://www.kentonline.co.uk/canterbury/news/university-staff-face-job-losses-198470/
    These are mainstream universities not ex polytechnics or upgraded institutions of further education.
    More to come me thinks.
  14. Agree
    Virgil Caine got a reaction from Frank Hovis in Wheels coming off HE bubble   
    Cardiff University in deficit. Cutting 380 jobs
    https://www.bbc.com/news/uk-wales-47205659
    University of Kent doing the same
    https://www.kentonline.co.uk/canterbury/news/university-staff-face-job-losses-198470/
    These are mainstream universities not ex polytechnics or upgraded institutions of further education.
    More to come me thinks.
  15. Cheers
    Virgil Caine reacted to SpectrumFX in Grauniad out-BBCs the So-Called BBC   
    GDP reporting is a load of bollocks. 
    The in month December figure will probably be adjusted upwards next quarter.

     
  16. Agree
    Virgil Caine got a reaction from null; in Grauniad out-BBCs the So-Called BBC   
    People tend to read articles that support their own political predelictions and inform their prejudices. It is not anything new.
    Incidentally I am pretty sure that we are heading for a recession but that is likely to be worldwide and will have almost nothing to do with Brexit.
     
  17. Agree
    Virgil Caine got a reaction from null; in Grauniad out-BBCs the So-Called BBC   
    People tend to read articles that support their own political predelictions and inform their prejudices. It is not anything new.
    Incidentally I am pretty sure that we are heading for a recession but that is likely to be worldwide and will have almost nothing to do with Brexit.
     
  18. Agree
    Virgil Caine got a reaction from Austin Allegro in Sinking with the Jones'   
    My landlady when I was a student used to drive a dreadful unreliable old car which she was desperate to get shot. She routinely left it unlocked in the hope it would get stolen but the two times thieves made off with it they never got further than the bottom of the hill before the bloody thing broke down on them.
  19. Agree
    Virgil Caine got a reaction from Van Lady in Wheels coming off HE bubble   
    Precisely.
    The current approach treats all students doing courses at all institutions as being of equal value. If it was a true market then lenders would take into account the A level subject grades a student had achieved, the degree they were proposing to study and the quality of institution to decide if the money was likely to be repaid. The system that tosser Willets  created left students and taxpayers bearing all the financial risk on the loans while the Universities had none. What beggars belief is that even with the game rigged in their favour these institutions still can't make ends meet.
    Personally I dont think it would be too hard to come up with a computer model that takes factors like A levels, degree, quality of institution and future earnings potential into account to arrive at a notional 'market value' that would then be used to calculate what the appropriate tuition fee loan would be for an individual student at a particular university doing a given course. The problem for some Universities is that they rely on recruiting undergraduates who could only make three D's at A levels to fill courses of dubious long term merit. The likely tuition fee value of some of these degrees would be zero so they would not qualify for loans.
    The fact the last tranche of student loans only sold for half their face value suggests the current general tuition fee  should be cut by at least £4500 p.a
  20. Cheers
    Virgil Caine reacted to sarahbell in Geldof accused of tax “avoidance “. It couldn’t happen to a nicer man   
    just pay them the fucking tax
  21. Agree
    Virgil Caine got a reaction from Van Lady in Wheels coming off HE bubble   
    Precisely.
    The current approach treats all students doing courses at all institutions as being of equal value. If it was a true market then lenders would take into account the A level subject grades a student had achieved, the degree they were proposing to study and the quality of institution to decide if the money was likely to be repaid. The system that tosser Willets  created left students and taxpayers bearing all the financial risk on the loans while the Universities had none. What beggars belief is that even with the game rigged in their favour these institutions still can't make ends meet.
    Personally I dont think it would be too hard to come up with a computer model that takes factors like A levels, degree, quality of institution and future earnings potential into account to arrive at a notional 'market value' that would then be used to calculate what the appropriate tuition fee loan would be for an individual student at a particular university doing a given course. The problem for some Universities is that they rely on recruiting undergraduates who could only make three D's at A levels to fill courses of dubious long term merit. The likely tuition fee value of some of these degrees would be zero so they would not qualify for loans.
    The fact the last tranche of student loans only sold for half their face value suggests the current general tuition fee  should be cut by at least £4500 p.a
  22. Agree
    Virgil Caine got a reaction from One percent in Wheels coming off HE bubble   
    Bloomberg piece on University finance in the UK suggests a lot of institutions are reliant on tuition fees and research grants  for cash flow. Few have large cash reserves. 
    https://www.bloomberg.com/opinion/articles/2019-01-14/england-s-universities-are-running-short-of-cash
    It should be noted that when the government tried to sell off some of the student loan book last year they got bids worth only half the face value which suggests the financial sector calculated at least an expected 50% default . This means the taxpayer is looking at a big loss on its funding off further education. No surprise that the Treasury are now seeking to unwind this ludicrous boondoggle invented by that no brain idiot David Willets. Tuition fees are almost certainly going to be frozen for the forseeable future and there is no talk of cutting the funding by at least a third. That will be a death sentence for some institutions. 
    Looking at University accounts most of the wealth of these institutions is in fixed assets which presumably is largely property but one wonders how big a write down some might have to take if th property market tanked in their locality. In many towns University land purchases and development was one of the major factors in bidding up property prices so if they have to sell one one would expect to see that process go into reverse 
  23. Cheers
    Virgil Caine reacted to spygirl in Wheels coming off HE bubble   
    Yep.
    One of those bright oxbridge type who move from sector to sevtor, creating fuck ups. Ahh ppe.
    Proposing a market based approach. With no market. Just free money assuming the he sector will spend it wisely......
    Student loans needs pricing on a per student basis.
    Any HE body whose grads are not paying back loans needs restricting in future loans.
  24. Agree
    Virgil Caine got a reaction from One percent in Wheels coming off HE bubble   
    Bloomberg piece on University finance in the UK suggests a lot of institutions are reliant on tuition fees and research grants  for cash flow. Few have large cash reserves. 
    https://www.bloomberg.com/opinion/articles/2019-01-14/england-s-universities-are-running-short-of-cash
    It should be noted that when the government tried to sell off some of the student loan book last year they got bids worth only half the face value which suggests the financial sector calculated at least an expected 50% default . This means the taxpayer is looking at a big loss on its funding off further education. No surprise that the Treasury are now seeking to unwind this ludicrous boondoggle invented by that no brain idiot David Willets. Tuition fees are almost certainly going to be frozen for the forseeable future and there is no talk of cutting the funding by at least a third. That will be a death sentence for some institutions. 
    Looking at University accounts most of the wealth of these institutions is in fixed assets which presumably is largely property but one wonders how big a write down some might have to take if th property market tanked in their locality. In many towns University land purchases and development was one of the major factors in bidding up property prices so if they have to sell one one would expect to see that process go into reverse 
  25. Agree
    Virgil Caine got a reaction from Frank Hovis in Wheels coming off HE bubble   
    They have a quite high debt to asset ratio if you include the IOUs they owe the Agricultural Trust. The owe RBS £70 million on a long term loan charged at 5.4% to 2047  and have another loan of £60 million from Barclays payable at LIBOR plus 1.4% to 2037 (what happens if LIBOR spikes as it did in 2008). There are other liabilities totalling £126 million due to be repaid over the next four years. And they appear to be trading at a loss. The liabilities to lenders due over the next few years look very similar in amount to the money they extracted from the Agricultural Trust by selling its land and pocketing the money in return for IOUs. It is the latter which is very suspicious because that money should belong to the Trust not the University.