What's going to collapse next...

[spygirl]

53 minutes ago, dgul said:

It is certainly an interesting one.  They need funding, and if it doesn't turn up the value is zero.  People believe that the gov will fund it, and I think they will eventually, but not necessarily in the lifetime of the current ltd company.

 

Absolutely no way, not even 5% of the cash required.

The cost is fucking massive.

All the idiot on he punter boards are assuming UKGOV will step in. It wont; way too expensive with no real product at the end. Just too much risk.

If the Sirus idiots had done something like bui.ltl a railway - even increasing the capacity of Whitby to boro. Or some infrastructure.

There is very little upside to the share price.

This 'Oh weve given up on normal funding and we are talking about a new funding scheme with someone we wotn name' is nuts.

It stinks of a scam.

 

 

[spygirl]

5 hours ago, sancho panza said:

Was speaking to a friend on a reunion last night who's made good over the years shopfitting.Says thing shave never been this quiet EVER before.He's been through a few recessions.
Obviously,no surprise to readers of this forum or sites like Shedlock and Wolf St.I remember him asking me to help him out years ago doing overnight refits.. it was big business. Now he's actually started taking on domestic work again.I think this is the beginning of teh end for the likes of Intu.The long list of dept store failures keeps getting added to and these were the anchor stores.Also,in places like Leicester tehy've incresingly made it hard to drive in because they're so green,little realising peopole will jsut use the out of twon centres .

Leicester's 'big kahuna' moment will be when they shut the john Lewis dept store.So much retail space with so few customers.And they're probably rent free as well.All the little burger shops charging a tenner for bap will close sooner.

 

The twenbty year view is more compelling

 

Edit to add,I'm a value punter,there is no value in that stock imho

Shop fitting used to be lucrative. I know loads of people, mainly chippies, who went into it, even for a short period, to crank up their earnings - weekend and night work. paying double.

It was also busy - shops were always reformatting, rebranding, refitting.

Now, the closest work is putting up big warehouses up and own the M1/A1.

 

[sancho panza]

4 hours ago, xiox said:

Deutsche Bank and Commerzbank in formal merger talks

https://www.bbc.com/news/business-47602571

 

in Johnsons words

'the victory of hope over experience'

[spygirl]

On 23/01/2019 at 14:05, spygirl 🏆 said:

Ive got 2 metro bank pens and a canvasy bag.

They had staff handing hem out for freebies as they moved into a v expensive corner site on a big shopping centre.

The woman who gave it to me looked like stripper whod go all the way in  a booth for an extra 20. I thinkthats where the yrecruited her.

I expect the pens to outlast the bank.

 

https://www.bbc.co.uk/news/business-47609539

[spygirl]

And the So-Called BBC fuck it up:

Miscalculating the amount of capital you have or need to support your lending is one of the most fundamental mistakes a bank can make.

It gets to the very core of what a bank does - namely take deposits from savers and lend those out to borrowers.

No. banks mainly draw down their loans from the BoE. 

They have depositors, bonds and their initial capital, plus interest income.

To say 'banks just lend out money from depositors' is totally gormless. This is what several 1000 jounros in a news team at the So-Called BBC get you FFS.

 

[dgul]

51 minutes ago, spygirl 🏆 said:

And the So-Called BBC fuck it up:

Miscalculating the amount of capital you have or need to support your lending is one of the most fundamental mistakes a bank can make.

It gets to the very core of what a bank does - namely take deposits from savers and lend those out to borrowers.

No. banks mainly draw down their loans from the BoE. 

They have depositors, bonds and their initial capital, plus interest income.

To say 'banks just lend out money from depositors' is totally gormless. This is what several 1000 jounros in a news team at the So-Called BBC get you FFS.

 

To be fair to the gormless ones at the So-Called BBC, I think it is official policy 'from high' to ensure ordinary people continue to think that is how banks work.

[Bear Hug]

https://www.propertyindustryeye.com/online-agent-lays-off-20-of-workforce-months-after-raising-120m-in-latest-funding-round/

Quote

Nested, the online firm that says it is re-inventing estate agency by helping people buy their next home before selling their own, has reportedly laid off 20% of its workforce.

It is said to have let 15 staff go, according to publication TechCrunch.

It quoted founder and CEO Matt Robinson, who confirmed the departures, as saying: “We have come off a record year and quarter, but with continued uncertainty around Brexit market volumes have fallen significantly.

“We will continue to grow share; however, given the external environment we must remain cautious as we build the business for the coming years.”

Nested’s model provides home sellers with certainty that they can move.

It guarantees to sell a home for a certain amount.

If it fails to do so within 30 days, then it offers sellers an advance of around 95% of their property, making vendors chain-free.

If it cannot offer an advance, then sellers are free to disinstruct Nested and receive £1,000 cash by way of an apology, or continue to list at 1% commission – a reduction from its normal commission of between 2% and 4% plus VAT.

Small fish: 20% = 15 people; so current size is 60 staff.  £165m raised so far and projected 2018 turnover was £10m.

Looks very much like a ponzi scheme but of course brexit is to blame.

[UnconventionalWisdom]

7 hours ago, dgul said:

To be fair to the gormless ones at the So-Called BBC, I think it is official policy 'from high' to ensure ordinary people continue to think that is how banks work.

It is shocking that they can use statements like this to keep the masses believing... Scary in fact. 

[One percent]

1 minute ago, UnconventionalWisdom said:

It is shocking that they can use statements like this to keep the masses believing... Scary in fact. 

It’s shocking that the great unwashed are so uneducated that they believe it. 

[UnconventionalWisdom]

1 minute ago, One percent said:

It’s shocking that the great unwashed are so uneducated that they believe it. 

People love to comply for some reason. I work with people in their mid 20s. I tell them they should be angry at the rate applied to their student loans. I'd love a 6% return with no risk. They shrug and seem not to care. 

[One percent]

1 minute ago, UnconventionalWisdom said:

People love to comply for some reason. I work with people in their mid 20s. I tell them they should be angry at the rate applied to their student loans. I'd love a 6% return with no risk. They shrug and seem not to care. 

Maybe it’s because they realise how powerless they are?  Remember (I don’t know how old you are) that a lot grew up on here in times when the flower power movement was a recent memory. People thought that they had power and that things would be great forever. 

I blame those who will be now in their 60s and 70s who sat back thirty years ago and watched the process of it all going to shit start and who never challenged it. A case of pull the ladder up... 

[Chewing Grass]

10 minutes ago, UnconventionalWisdom said:

People love to comply for some reason. I work with people in their mid 20s. I tell them they should be angry at the rate applied to their student loans. I'd love a 6% return with no risk. They shrug and seem not to care. 

Big thing I have found with millenials is they really struggle with financial maths as they are not taught it, they can grasp percentages but struggle with compounding and its effects and you can forget TVM and amortisation calcs.

All they see is the amount per month, they cannot or will not think about the bigger picture and its effect on their money.

[UnconventionalWisdom]

5 minutes ago, One percent said:

Maybe it’s because they realise how powerless they are?  Remember (I don’t know how old you are) that a lot grew up on here in times when the flower power movement was a recent memory. People thought that they had power and that things would be great forever. 

I blame those who will be now in their 60s and 70s who sat back thirty years ago and watched the process of it all going to shit start and who never challenged it. A case of pull the ladder up... 

I'm a relatively young dosbodder, early 30s, wanted to know why i could only afford a decorated prison cell. That led my to TOS. 

I really can't fathom how people didn't get angry that they could see their kids would struggle with higher housing costs. Those who did, now leverage up and believe the extra debt is worth the punt as "house prices always go up". 

[UnconventionalWisdom]

2 minutes ago, Chewing Grass said:

financial maths as they are not taught it

This is the problem. This is so fundamental that it's a crime it isn't touched upon in schools. People think I'm mad with a tin foil hat when I talk about QE, landlord's BTL interest only loans, banks creating credit out of thin air and other financial manipulations. 

[One percent]

4 minutes ago, UnconventionalWisdom said:

I'm a relatively young dosbodder, early 30s, wanted to know why i could only afford a decorated prison cell. That led my to TOS. 

I really can't fathom how people didn't get angry that they could see their kids would struggle with higher housing costs. Those who did, now leverage up and believe the extra debt is worth the punt as "house prices always go up". 

I did but everyone else seemed to be focused on how much their property was going up in price. I distinctly remember thinking, but what about our kids? 

That wasn’t what I was thinking though. More to do with the way in which people have sat there watching working conditions eroded. I remember standing on picket lines, trying to defend conditions of service and seeing absolute tools cross it. The stock answer was ‘I can’t afford to srike’. My stock response was, ‘you can’t afford to fucking not’. And here we are with wages on the floor and zero hour contracts. 

Idiots, short term thinking idiots. 

[Chewing Grass]

Office Outlet - 90 stores going.

Office Outlet, which is based on Newfoundland Road in the city, has appointed auditors Deloitte to handle the administration.

Office Outlet was previously part of stationery business Staples before it sold its physical stores to investors Hilco Capital in 2016.

The chain was then involved in a management buy-out in September 2018.

https://www.bristolpost.co.uk/news/business/bristols-office-outlet-stationery-store-2662963

[MrXxx]

9 hours ago, UnconventionalWisdom said:

I'm a relatively young dosbodder, early 30s, wanted to know why i could only afford a decorated prison cell. That led my to TOS. 

I really can't fathom how people didn't get angry that they could see their kids would struggle with higher housing costs. Those who did, now leverage up and believe the extra debt is worth the punt as "house prices always go up". 

Personal financial greed...and usually these people end up paying for it in some way...may not be via money, but they will.

[sancho panza]

not collapsing jsut en route.

https://www.retailgazette.co.uk/blog/2019/03/kingfisher-plans-15-store-closures-profits-slide/

B&Q parent company Kingfisher has said it is considering closing down 15 stores group-wide while announcing its search for a new chief executive.

The multinational DIY retailer also said it is planning to close 19 Screwfix stores in Germany.

Kingfisher chief executive Veronique Laury is expected to remain on the board while a successor is found as the company as not yet announced a date for resignation.

Meanwhile, 15 stores are due to be shut over the next two years and Germany’s store closures will leave it Screwfix with an online-only store.

The news follows Kingfisher’s report of its pre-tax profits crashing 52.8 per cent to £322 million for the year to January 11.

On an underlying basis, pre-tax profits declined by 13 per cent to £693 million.

 

https://www.retailgazette.co.uk/blog/2019/03/john-lewis-partnership-weekly-sales-continue-drag/

John Lewis Partnership’s weekly update has revealed another slip in overall sales, although it was still a marked improvement on the decline it recorded last week.

For the week ending March 16, weekly sales at the retail group decreased by 1.2 per cent year-on-year, from £206.37 million down to £203.83 million.

This compares to last week when weekly sales took a 8.9 per cent hit.

 

https://www.retailgazette.co.uk/blog/2019/03/1200-jobs-at-risk-as-office-outlet-falls-into-administration/

The future of 1200 jobs at Office Outlet has been plunged into uncertainty as the retailer fell into administration.

Partners at Deloitte were appointed joint administrators yesterday.

All 90 of Office Outlet’s stores will continue trading while the business is marketed to potential new owners.

Edited March 20, 2019 by sancho panza

[spygirl]

https://www.ft.com/content/aec2a320-4cc5-11e9-bbc9-6917dce3dc62

Deutsche staff banned from selling shares during merger

Surely that should be banned for buying shares? Using their superior inside knowledge ....

 

[spygirl]

Moer thread crossing.

DB have loaned Wirecard 150mE

https://www.ft.com/content/ea1d6db0-4bda-11e9-bbc9-6917dce3dc62

If only the UK could be likea proper legal grown up country like Germany ....

 

[leonardratso]

6 minutes ago, spygirl 🏆 said:

Moer thread crossing.

DB have loaned Wirecard 150mE

https://www.ft.com/content/ea1d6db0-4bda-11e9-bbc9-6917dce3dc62

If only the UK could be likea proper legal grown up country like Germany ....

 

should turn out nicely for everyone.

[spygirl]

Sada blocked.

CEO going to whistling a different tune - Im i nthe money -> Buddy can you spare a dime as hes goign to get the boot.

Wallkamrts attempt to flip ASDA to some idiots blocked.

Sainsbury - who are now owned by a forieng investors - will now have to gut the company or even fold it.

Sainsbury are being ouicompeted by Lidl/Aldi, tesco n Waitrose. No space for it now.

 

 

[spygirl]

On 23/01/2019 at 14:05, spygirl said:

Ive got 2 metro bank pens and a canvasy bag.

They had staff handing hem out for freebies as they moved into a v expensive corner site on a big shopping centre.

The woman who gave it to me looked like stripper whod go all the way in  a booth for an extra 20. I thinkthats where the yrecruited her.

I expect the pens to outlast the bank.

 

Pens are still going...

Metro banks ..... less so.

[spunko]

On 19/03/2019 at 21:54, Chewing Grass said:

Big thing I have found with millenials is they really struggle with financial maths as they are not taught it, they can grasp percentages but struggle with compounding and its effects and you can forget TVM and amortisation calcs.

All they see is the amount per month, they cannot or will not think about the bigger picture and its effect on their money.

In no way is that restricted to millennials though, you could apply it to 90% of the wider UK population.

[spygirl]

On 19/03/2019 at 21:54, Chewing Grass said:

Big thing I have found with millenials is they really struggle with financial maths as they are not taught it, they can grasp percentages but struggle with compounding and its effects and you can forget TVM and amortisation calcs.

All they see is the amount per month, they cannot or will not think about the bigger picture and its effect on their money.

You do realise that 90% of teachers are financial idiots.....

Its no milleniums. To give them a bit of the pass, you've got naive 20yo dealing with large corporate who have spent a lot of time n money working out how to chip away for Kylies income, pound by pound.

AS far as the older generation ... nah. FFS just look at endowment mortgages for mass financial stupidity.

Or, when I discuss things with my mum - pointing out whatever properdee based get rich shes heard about - as soon as I get to finance she goes 'Stop. I dont understand percentages...'