What's going to collapse next...

[Chewing Grass]

Last pair of Clarks I bought was 20 years ago, they were somewhere between £60 & £80 quid, made in Romania and had a cloth lining that holed and rubbed my feet into a blister in 6 weeks.

Took it as a lesson not to buy any again.

[spunko]

Blimey! Is this an actual British High Street company that's not private-equity owned?

[spygirl]

8 minutes ago, Chewing Grass said:

Last pair of Clarks I bought was 20 years ago, they were somewhere between £60 & £80 quid, made in Romania and had a cloth lining that holed and rubbed my feet into a blister in 6 weeks.

Took it as a lesson not to buy any again.

There is no such thing as cheap shows. Just crap shoes.

1 minute ago, spunko said:

Blimey! Is this an actual British High Street company that's not private-equity owned?

Yet.

[Andersen]

P&o ferries, 4k redundancies , struggling to stay afloat (sorry!) https://www.telegraph.co.uk/business/2020/04/06/po-ferries-running-time-stay-afloat-4000-jobs-risk/

[TheCountOfNowhere]

3 minutes ago, Andersen said:

P&o ferries, 4k redundancies , struggling to stay afloat (sorry!) https://www.telegraph.co.uk/business/2020/04/06/po-ferries-running-time-stay-afloat-4000-jobs-risk/

Laughing at the headline, not the job losses.

[TheCountOfNowhere]

Is the AA a goner ?

 

[spygirl]

1 hour ago, TheCountOfNowhere said:

Is the AA a goner ?

 

Was the AA anything but dead on floating?

Nope.

Lemon.

PE cunt weasels.

 

[spygirl]

1 hour ago, Andersen said:

P&o ferries, 4k redundancies , struggling to stay afloat (sorry!) https://www.telegraph.co.uk/business/2020/04/06/po-ferries-running-time-stay-afloat-4000-jobs-risk/

Almost 4,000 jobs at P&O Ferries are under threat as the 180-year-old firm teeters on the brink of collapse.

The ferry company's Dubai owner is scrambling to agree a £250m rescue deal that will include cuts to staff's wages and pensions alongside a Government bailout.

DP World is understood to be preparing to inject tens of millions of pounds to keep the business afloat – but P&O is struggling to convince ministers to agree to put in £150m from taxpayers.

English Channel operator P&O is struggling after passenger numbers collapsed when Britain and swathes of Continental Europe went into lockdown last month.

Let it go bust. Wages reset,  debt cleared.

Someone will buy the company.

[gibbon]

12 minutes ago, spygirl said:

Was the AA anything but dead on floating?

Nope.

Lemon.

PE cunt weasels.

 

Remember some investigation years ago into them after they got brought by PE, they forced the recovery guys to sell batteries to broken down motorists who had perfectly fine batteries. If you don't sell X batteries per month you're out.

[Hardhat]

Why's it always a "Dubai owner" in these cases...

[Craig]

11 minutes ago, gibbon said:

Remember some investigation years ago into them after they got brought by PE, they forced the recovery guys to sell batteries to broken down motorists who had perfectly fine batteries. If you don't sell X batteries per month you're out.

RAC tried to pull that very stunt on me a few months back. Pulled out their magic battery diagnostic kit, then told me I'd have to buy their approved battery at £230 or they'd no longer respond to call-outs.

Needless to say I told them to bolt. Still no idea if my existing battery was faulty, but managed to pick up a replacement for £100 online. 

Twats. 

[spygirl]

22 minutes ago, Hardhat said:

Why's it always a "Dubai owner" in these cases...

They had the money, ~10 years ago.

The noone wanted to buy a daft shit house that looks like a Palm tree, in a desert, with loads of muzzers. Andthe oil price fell.

 

[DownwardSpiral]

4 hours ago, spygirl said:

Almost 4,000 jobs at P&O Ferries are under threat as the 180-year-old firm teeters on the brink of collapse.

The ferry company's Dubai owner is scrambling to agree a £250m rescue deal that will include cuts to staff's wages and pensions alongside a Government bailout.

DP World is understood to be preparing to inject tens of millions of pounds to keep the business afloat – but P&O is struggling to convince ministers to agree to put in £150m from taxpayers.

English Channel operator P&O is struggling after passenger numbers collapsed when Britain and swathes of Continental Europe went into lockdown last month.

Let it go bust. Wages reset,  debt cleared.

Someone will buy the company.

Don't worry Spy - Chris Grayling knows people who can run some ferries for us.

[BearyBear]

University of Edinburgh...?

https://www.bbc.co.uk/news/uk-scotland-edinburgh-east-fife-52666042

University of Edinburgh under 'serious threat' from pandemic

 

The financial health of one of Scotland's top universities is under "serious threat" from the coronavirus pandemic, according to its principal.

Prof Peter Mathieson, of the University of Edinburgh, told BBC Scotland annual income could drop by up to £150m.

He said the university may no longer need the scale of buildings and facilities it currently has.

The Scottish Parliament's education committee will hear evidence about college and university funding later.

It will hear from the chief executive of the Scottish Funding Council which pays for the places of Scottish students.

But this is only one source of income for universities. Other sources include the substantial tuition fees paid by students from outside Europe and commercial ventures.

Universities across Scotland fear they could lose out on £500m between them.

Edinburgh, which has an annual income of £1bn, has running costs, including wages, of around £90m a month.

The single biggest challenge for the university is the likelihood of a large drop in the number of students from outside Europe, some of whom pay tuition fees of around £30,000 a year.

The university still does not know how big the drop will be but there have been warnings it could range from a 25% fall to a complete collapse.

[One percent]

1 hour ago, BearyBear said:

University of Edinburgh...?

https://www.bbc.co.uk/news/uk-scotland-edinburgh-east-fife-52666042

University of Edinburgh under 'serious threat' from pandemic

 

The financial health of one of Scotland's top universities is under "serious threat" from the coronavirus pandemic, according to its principal.

Prof Peter Mathieson, of the University of Edinburgh, told BBC Scotland annual income could drop by up to £150m.

He said the university may no longer need the scale of buildings and facilities it currently has.

The Scottish Parliament's education committee will hear evidence about college and university funding later.

It will hear from the chief executive of the Scottish Funding Council which pays for the places of Scottish students.

But this is only one source of income for universities. Other sources include the substantial tuition fees paid by students from outside Europe and commercial ventures.

Universities across Scotland fear they could lose out on £500m between them.

Edinburgh, which has an annual income of £1bn, has running costs, including wages, of around £90m a month.

The single biggest challenge for the university is the likelihood of a large drop in the number of students from outside Europe, some of whom pay tuition fees of around £30,000 a year.

The university still does not know how big the drop will be but there have been warnings it could range from a 25% fall to a complete collapse.

A problem for wee krankie. Mind, i bet the UK taxpayer is expected to bail it out. 

[sancho panza]

1 hour ago, BearyBear said:

University of Edinburgh...?

https://www.bbc.co.uk/news/uk-scotland-edinburgh-east-fife-52666042

University of Edinburgh under 'serious threat' from pandemic

 

The financial health of one of Scotland's top universities is under "serious threat" from the coronavirus pandemic, according to its principal.

Prof Peter Mathieson, of the University of Edinburgh, told BBC Scotland annual income could drop by up to £150m.

He said the university may no longer need the scale of buildings and facilities it currently has.

The Scottish Parliament's education committee will hear evidence about college and university funding later.

It will hear from the chief executive of the Scottish Funding Council which pays for the places of Scottish students.

But this is only one source of income for universities. Other sources include the substantial tuition fees paid by students from outside Europe and commercial ventures.

Universities across Scotland fear they could lose out on £500m between them.

Edinburgh, which has an annual income of £1bn, has running costs, including wages, of around £90m a month.

The single biggest challenge for the university is the likelihood of a large drop in the number of students from outside Europe, some of whom pay tuition fees of around £30,000 a year.

The university still does not know how big the drop will be but there have been warnings it could range from a 25% fall to a complete collapse.

apparently leicester Uni won't be doing face to face lectures till April 2022....................for real.Despite all teh evidence that covid isn't that dangerous is Swedish style social distancing policies are pursued.

 

Key thing is,foreign students won't be paying £20,000 per annum for online lectures.

Edinburgh will proably be ok but I suspect huge drop in students from abroad alongsdie reduced demand from UK students could cripple some the of the second line uni's.

 

[sancho panza]

13 hours ago, TheCountOfNowhere said:

Is the AA a goner ?

 

reminds me of the countrywide chart.

[leonardratso]

hehe, had a small punt on ukog a while back, wish i hadnt now, cool chart though;

[Don Coglione]

13 hours ago, BearyBear said:

University of Edinburgh...?

 

Edinburgh, which has an annual income of £1bn, has running costs, including wages, of around £90m a month.

 

Erm...

[TheCountOfNowhere]

12 hours ago, sancho panza said:

reminds me of the countrywide chart.

There are a lot like that !!!

[Iamcynical]

5 hours ago, Knickerless Turgid said:

Erm... 

Maybe they think a billion is a million million.  They are only academics remember.. 

[BearyBear]

22 hours ago, sancho panza said:

apparently leicester Uni won't be doing face to face lectures till April 2022....................for real.Despite all teh evidence that covid isn't that dangerous is Swedish style social distancing policies are pursued.

 

Key thing is,foreign students won't be paying £20,000 per annum for online lectures.

Edinburgh will proably be ok but I suspect huge drop in students from abroad alongsdie reduced demand from UK students could cripple some the of the second line uni's.

 

Edinburgh Uni will survive for sure, albeit smaller. I wonder what the impact will be on rental market as 12% of city population is in higher education.

[SillyBilly]

On 16/05/2020 at 00:12, leonardratso said:

hehe, had a small punt on ukog a while back, wish i hadnt now, cool chart though;

I made about £20k in a couple of weeks a few years back in them if I recall. Back then I was pumping thousands into penny stocks, pumping and dumping. I wanted one more score in Baobob Resources where I convinced myself it was going big and got wrecked. The loss on that still sobers me up today.

Edited May 17, 2020 by SillyBilly

[Green Devil]

On 15/05/2020 at 23:16, sancho panza said:

apparently leicester Uni won't be doing face to face lectures till April 2022....................for real.Despite all teh evidence that covid isn't that dangerous is Swedish style social distancing policies are pursued.

 

Key thing is,foreign students won't be paying £20,000 per annum for online lectures.

Edinburgh will proably be ok but I suspect huge drop in students from abroad alongsdie reduced demand from UK students could cripple some the of the second line uni's.

 

End of the UK student ponzi then. 

Holy crap, we will have to offer value for money and educate our own! 

[BearyBear]

https://studentnewspaper.org/is-covid-19-in-fact-exposing-rather-than-causing-the-university-of-edinburghs-financial-troubles/

Is Covid-19 in fact exposing, rather than causing, The University of Edinburgh’s financial troubles?

There has been much said about the emails recently sent from Peter Mathieson. On the 24th of April he stated that Edinburgh needed to “think the unthinkable” and in a later email added that “staffing and non-staffing costs will need to be cut”. National organisations such the BBC and The Scotsman have reported on the details of these emails, with emphasis on the impact that Covid-19 has had on finances in Higher Education. Peter Mathieson highlighted the undeniable impact that Covid-19 has had on the sector. He outlined the university models prediction of a significant reduction in income from international students, with a £70-150 million hit in the coming twelve months alone.

The analysis has centred on the cuts required and has barely questioned whether Covid-19 is the root cause. Having read a leaflet from The Edinburgh Staff-Student Solidarity Network, The Student has reviewed the original documents which the group based its public statement on. The Audit Scotland report on Scottish Universities showed that between 2014-15 and 2017-18, the amount of income from non-EU fees rose by 39% to £47m. Sadly, this perceived bottomless source of finance has now come to an end. 

Reading the University of Edinburgh 2018-19 Annual Report has also revealed other pinch points. Peter Mathieson mentioned the cost of releasing students from their rental contracts for the remainder of this academic year. He did not, however, mention that the income from student residences and catering combined were named last July as an area of strong income growth. 

In fact, last academic year these areas generated £79 million of income – close to a third of the £234 million raised by the university from non-teaching and research sources. This means that seven per cent of the university’s income came from students living in university accommodation and paying for food in the catering outlets. From The Student’s review of the 2018-19 annual report, the equivalent figure for the University of Glasgow would appear to be 4.4%. The reasons for this may be varied but a difference appears to exist. 

This funding shortfall will have an impact on the student experience. The University has frozen recruitment, and sources at the local Edinburgh branch of the University and College Union have confirmed that no guarantees have been made to the 3540 staff on fixed term contracts beyond July. The money from tuition fees and government grants does not cover the cost of the research and teaching.This means that the university has been cross-subsidising from ‘profitable areas’ in recent years. A result of this is that the research which has propelled the university to 4th in research power in the UK and 20th in the QS standings may have to be cut. 

In an additional concern, the university report reveals the existence of a £250 million pound loan “at favourable rates” which it stated would be invested in capital. However, the latest email informs staff that £92 million has been saved by cancelling all but essential work on the university estates. This raises questions as to what the money will be spent on. If it is instead funding day-to-day expenses, this needs to be acknowledged and the implications outlined. 

Covid-19 is clearly a pressure for all universities. A pandemic of this scale will evidently impact the financial position of even the most robust institutions. However, it seems unclear that the University of Edinburgh was among them. Peter Mathieson’s email has outlined the stark questions facing the university. It has not, however, provided many answers.