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What's going to collapse next...


TheCountOfNowhere

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Chewing Grass
57 minutes ago, spunko said:

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

True, wasn't taught it in bog standard comp, had to work it out myself when 30+, I guess it is therefore generally consigned to the older/wiser/bitter experience camp for all.

Education ain't what it should be in reality.

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Shopping centres are doomed

https://www.bbc.co.uk/news/business-48145556

The owner of the Lakeside and Trafford Centre shopping centres, Intu, has cut its forecast for rental income, blaming the retail downturn.

Intu said 2019 would be "challenging" due to a rise in rescue deals, as stores struggle to pay rent.

....

However, the company said that it was seeing new types of tenants paying higher long-term rents, such as Metro Bank opening up in Manchester Arndale, and the introduction of a "Market Halls" food court at Lakeside featuring food and drink from smaller independent businesses.

"Despite the current operating environment, I believe we have a very good business and am confident we can meet the challenges we are facing head on," said newly-appointed Intu chief executive Matthew Roberts.

Fucked.

 

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The AA

Old CEO - fuckign loon

https://www.thisismoney.co.uk/money/markets/article-5591945/Sacked-AA-chairman-accused-punching-woman-face.html

Cuntweasel private equity body leaving

https://www.thetimes.co.uk/article/aa-finance-director-quits-to-support-change-uk-98d8jntbc

https://www.thetimes.co.uk/edition/business/investor-fury-over-debt-cracks-aas-sledgehammer-martin-clarke-708fxz3sn

Clarke was a partner at Permira, the private equity firm that owned the AA between 2004 and 2014 and was accused of asset-stripping. Clarke joined the board at the float.

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Castlevania
On 03/05/2019 at 09:35, spygirl said:

Shopping centres are doomed

https://www.bbc.co.uk/news/business-48145556

The owner of the Lakeside and Trafford Centre shopping centres, Intu, has cut its forecast for rental income, blaming the retail downturn.

Intu said 2019 would be "challenging" due to a rise in rescue deals, as stores struggle to pay rent.

....

However, the company said that it was seeing new types of tenants paying higher long-term rents, such as Metro Bank opening up in Manchester Arndale, and the introduction of a "Market Halls" food court at Lakeside featuring food and drink from smaller independent businesses.

"Despite the current operating environment, I believe we have a very good business and am confident we can meet the challenges we are facing head on," said newly-appointed Intu chief executive Matthew Roberts.

Fucked.

 

Interesting article in the Times today regarding Metro’s capital raise. Underwriters are looking at up to a 40% discount to the current share price with a price range of £4-£4.50. 

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On 06/05/2019 at 16:14, steppensheep said:

Ahh firms.

No mention of the public sector or unfunded public sector pensions.

I notice a distinct rise in the fire n police bit of my ctax bill. Theres less coppers on duty nd the new ones get paid less.

And you'll note that, despite Gidiots prudence in upping the state pension aged - mainly to delay a lot of publci sector pay outs - and his change to inflation and career average, the TPS contriubtions are going up:

https://www.aoc.co.uk/news/teacher-pension-contributions-increases-in-2019-12-april-update

A 23.68% employer contribution from September 2019: All TPS employers will pay the higher 23.68% contribution from September 2019. The contribution includes a 0.08% levy to pay for administration. The underlying rate rises by 43% from 16.4% to 23.6%. There is no change in the income-related contributions that teacher pay (which average 9.6% of salary).

NO i thought teachers were poorly paid n poor.

A pension that requires 30% of earnings is pretty expensive...

Note - private schools teachers can also join the TPS. The upping of employer contribs is causing massive ructions.

 

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steppensheep
1 hour ago, spygirl said:

 

https://www.aoc.co.uk/news/teacher-pension-contributions-increases-in-2019-12-april-update

A 23.68% employer contribution from September 2019: All TPS employers will pay the higher 23.68% contribution from September 2019. The contribution includes a 0.08% levy to pay for administration. The underlying rate rises by 43% from 16.4% to 23.6%. ...

Crikey. Also

Quote

A key change in this round of valuations is a reduction in the discount rate (known as the SCAPE rate) from CPI+3% used in the last valuation to CPI+2.4% from 2019

I assume this is a consequence of low interests rates making us all rich without any downsides.

(I don't really understand it, but i'm not interested enough to dig any deeper.  I think its a pay as you go scheme,  so presumably its just accounting entries between the DoE and the treasury to try and make it look like they're running it on an equivalent basis to the private sector.)

Edited by steppensheep
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10 minutes ago, steppensheep said:

Crikey. Also

I assume this is a consequence of low interests rates making us all rich without any downsides.

(I don't really understand it, but i'm not interested enough to dig any deeper.  I think its a pay as you go scheme,  so presumably its just accounting entries between the DoE and the treasury to try and make it look like they're running it on an equivalent basis to the private sector.)

Yep.

The private school teachers and schools are going nuts.

Private school fees have double in real terms as brown doubled state schools pays.

Now theyve got to cught up even more to cope with those 'over worked, stressed tacers retirng and dropping dead living for 30+ years.

I dont know what the fuck the peple who set up TPS scheme were smoking when they let private school teachers in, but it must have bee nstrong. I was genuiely surpirsed they could join the TPS.

 

TPS is PAYG, like most other public sector pensions.

However theyve made solid promises.

PAYG is fine as long as the pension goes down as the number of paying teachers goes down.

https://www.populationpyramid.net/united-kingdom/2017/

 

 

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Wight Flight

Am I reading this correctly?

A teacher on £50k per annum actually cost £50k plus £6k employers NI plus £12k pension contributions - so £68k in total. That is quite an employment package!

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There’s a Similar jump in NHS employers pensions contributions. I assumed as for teachers the department budgets would be increased to compensate for the increased employers contributions. Edit: ok politically it doesn’t look great increasing department budgets and the money going on pensions lol

Edited by Ash4781b
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One percent

If the state wasn’t shelling out billions on the feckless, unemployable and gimmigrants, we could afford pensions for those who had contributed all their working lives. 

Just sayin’. 

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Dave Bloke
On 20/12/2018 at 12:50, spunko said:

They tried to relaunch Kappa and Ellesse from the 90s recently, didn't really work out.

Kappa? They are a big Italian sports brand. They sponsor a few UK clubs as well as the Italian ski team. Did they need relaunching?

dorothea-wierer-2.jpg

js1.jpg

 

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1 hour ago, Dave Bloke said:

Kappa? They are a big Italian sports brand. They sponsor a few UK clubs as well as the Italian ski team. Did they need relaunching?

dorothea-wierer-2.jpg

js1.jpg

 

I don't know about mainland Europe but until very recently I hadn't seen anyone wearing Kappa here in the UK since about 1998.

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Dave Bloke
7 hours ago, spunko said:

I don't know about mainland Europe but until very recently I hadn't seen anyone wearing Kappa here in the UK since about 1998.

maybe the UK women... ahem... grew out of the brand?

172815.jpg

 

8022058308718_normal_011_1024x1024.jpg?v

dorothea-wierer-biathlon-verfolgung-ruhp

 

 

Edited by Dave Bloke
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Bedrag Justesen
17 hours ago, Wight Flight said:

A teacher on £50k per annum actually cost £50k plus £6k employers NI plus £12k pension contributions - so £68k in total. That is quite an employment package!

No wonder they have no money for pencils.

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17 hours ago, Wight Flight said:

Am I reading this correctly?

A teacher on £50k per annum actually cost £50k plus £6k employers NI plus £12k pension contributions - so £68k in total. That is quite an employment package!

Pretty much. 

I dont think the TPS has fully adjusted i.e. contributions are still playing catch up.

And this goes back to the issue I raised in 'wheel coming off HE ...'

If you are going to be spending ~70k on education, how best to spend it?

Some barely employable loon who only works 30 weeks of 6h days.

Or look at moving resources away from warm, expensive bodies and to software and video play backs a la Khan academy.

Ditto for NHS workers.

Currently, NHS health care is rated pretty poor but cheaper than the US.

Factor in the pension costs and it becomes more expensive than the US and still shit.

There's way too many people in the public sector, with way too much unfunded pensions with way too little productivity.

 

 

 

 

15 hours ago, One percent said:

If the state wasn’t shelling out billions on the feckless, unemployable and gimmigrants, we could afford pensions for those who had contributed all their working lives. 

Just sayin’. 

Its pretty much all state spending.

Navy with more Admirals than ships.

An army where only a small bit of it has been vaguely useful in the last 40 odd years.

UK state needs a massive reset.

 

 

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14 hours ago, Dave Bloke said:

Kappa? They are a big Italian sports brand. They sponsor a few UK clubs as well as the Italian ski team. Did they need relaunching?

dorothea-wierer-2.jpg

js1.jpg

 

Brand suffered a bit like Burberrys

175-25-tashaslappa.jpg

One lawsuit .. and Kappa Slappa becomes Tasha Slappa

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16 hours ago, Ash4781b said:

There’s a Similar jump in NHS employers pensions contributions. I assumed as for teachers the department budgets would be increased to compensate for the increased employers contributions. Edit: ok politically it doesn’t look great increasing department budgets and the money going on pensions lol

Not sure about department budgets being increased.........more likely is cuts to the staff eg schools cutting back on teaching assistants for special needs etc.  Also have a look at the statement (usually every year with the new bill) provided by local authorities about what happens to council tax.  A good proportion goes on paying pensions.  I just had a look at all the bumph they sent and until recently I seem to remember a nice pie chart with all the info but strangely not this year so not so easy to find.

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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.

 

1500p then.

https://www.bbc.co.uk/news/business-48215674

541p today.

 

 

 

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