Growing Evidence That The Upturn Is Upon Us
Joined: Jun 2008
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From: Just a bit lower than the point where the falling angel meets the rising ape
Lifted from Aunty Beeb..
What's the difference between Investment Bankers and London Pigeons?
The Pigeons are still capable of making deposits on new BMW's
The Pigeons are still capable of making deposits on new BMW's
Joined: May 1999
Posts: 1,846
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From: Bristol, England
Just in case you wondered what the airlines were doing while all this was going on...
Ryanair's September sales soar
Flybe Profits
Flybe cuts plans for growth
Easyjet's passenger figures soar
BA passenger numbers down
Ryanair's September sales soar
Flybe Profits
Flybe cuts plans for growth
Easyjet's passenger figures soar
BA passenger numbers down
Joined: Sep 2003
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From: Scottish FIR
I've just been nationalised!
Whoop-de-do.
HBOS, LTSB, RBS go for the rescue plan. Barclays go it alone. I guess they will get a loan from the new found wealth of HBOS, LTSB, RBS, and protect their divies and bonuses, at the same time preventing the proletariat from becoming board members.
Just need to pay for all this. I know, give Carol Vorderman a call and consolidate the national debt into one easy payment.
HBOS, LTSB, RBS go for the rescue plan. Barclays go it alone. I guess they will get a loan from the new found wealth of HBOS, LTSB, RBS, and protect their divies and bonuses, at the same time preventing the proletariat from becoming board members.
Just need to pay for all this. I know, give Carol Vorderman a call and consolidate the national debt into one easy payment.
Joined: May 1999
Posts: 1,846
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From: Bristol, England
Don't know. I know Astreaus handled a lot of the repatriations, who did the rest? Easy and Ryanair must have picked up some pax but, in my experience, most of the low cost flights at the end of the summer were pretty full anyway.
Joined: Sep 2003
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From: Scottish FIR
Airlines? Are we talking about airlines now?!
Joined: Feb 2000
Aviation Qualifications: ATPL
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From: England
Beats me! I'm all out of ideas at this point and the crystal ball is on the blink. It would all be quite enjoyable and interesting if I didn't have a terrible foreboding that there will be unpleasant consequences in your and my world from all this.
I know easyJet did pick up some XL repatriations but it wouldn't be a particularly significant number and all the tickets were only £75 anyway so not mega profitable. What made the real difference was the appalling British summer weather again. Holidaying in the UK and camping have been fashionable for the last two years and the focus of a lot of media attention.
However, reality intruded, faced with freezing driving rain in a tent many people changed their plans at the last minute and headed for the med instead. High load factors of short notice passengers have flattered the summer profits greatly.
WWW
I know easyJet did pick up some XL repatriations but it wouldn't be a particularly significant number and all the tickets were only £75 anyway so not mega profitable. What made the real difference was the appalling British summer weather again. Holidaying in the UK and camping have been fashionable for the last two years and the focus of a lot of media attention.
However, reality intruded, faced with freezing driving rain in a tent many people changed their plans at the last minute and headed for the med instead. High load factors of short notice passengers have flattered the summer profits greatly.
WWW
Joined: Nov 2004
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From: The Desert but shortly to be HK!)
Alex you might have missed it but the events of last week we're an earth shattering reminder that the warm cosy bath the UK consumer has been floating in for the past 5 years isn't full of water.... it is full of !!!!!.... and they aren't floating they are drowning.... lets see how that impacts sentiment... car sales etc have slumped in the last 2 weeks. Confidence must have taken a massive knock.
Perhaps offer some insight by telling us how businesses is trending at your organisation? any drop off in sales over the past couple of weeks?? you are at the forefront of training for ATPLs anyway (with arguably the best product on the market).
Perhaps offer some insight by telling us how businesses is trending at your organisation? any drop off in sales over the past couple of weeks?? you are at the forefront of training for ATPLs anyway (with arguably the best product on the market).
Joined: Dec 1999
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From: UK
We have reached the bottom of the finance-related headlines - now for the real impact on the high street and consumer businesses.
I would now expect the economy to rumble along in recession, not doing much that generates positve headlines until the end of 2009 / start of 2010.
I would now expect the economy to rumble along in recession, not doing much that generates positve headlines until the end of 2009 / start of 2010.
Joined: Feb 2000
Aviation Qualifications: ATPL
Posts: 17,503
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From: England
Its a minor anecdote but a relative is a car dealer and he just had the worst August+Sept trading since 1991. Sales were in single digits where they were in triple digits last year.
It could be a blip.
WWW
It could be a blip.
WWW
Joined: May 1999
Posts: 1,846
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From: Bristol, England
No, I hadn't missed the bloodbath GSB, it would be difficult not to! I'm only reporting the actual figures, I'll leave it to someone else to explain them.
Car sales have been horribly down for some months now. I know the BMW dealers are all getting rid of their bigger demonstrators because they're losing £2K a month just sitting in the showroom. As far as training goes it seems to be unaffected as yet. Most of the top notch IR schools are booked for some months into the future. Modular groundschool is busy, particularly on the continent, I don't know about the integrated schools.
Car sales have been horribly down for some months now. I know the BMW dealers are all getting rid of their bigger demonstrators because they're losing £2K a month just sitting in the showroom. As far as training goes it seems to be unaffected as yet. Most of the top notch IR schools are booked for some months into the future. Modular groundschool is busy, particularly on the continent, I don't know about the integrated schools.
Joined: Dec 2005
Posts: 644
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From: UK
On the note of relatives, one of mine is involved in property development and during our chit chat over the weekend refered to some kind of trade insudtry gazette survey reaging new flat sales. According to him in only 4 new build flats have been sold in Birmingham between the 6 top estate agencies. That's less that 1:1 ratio, now I might have it wrong but he didn't look very impressed by the outlook especially with so many of his tennants asking for a rent reduction at the same time.
Times are hard but due to inner desperation for any ray of light we immediately jump unto the first thread of good news when it appears. There's nothing wrong with that but it does need to be looked upon against the general economic backdrop. The actors may come and go but the stage and it's backdrop will remain throughout. Let's not forget the bigger picture it's still an overall downward trend and in fact needs to be in order to shed the economic/lifestyle excesses of recent years. Gordon allowed it to happen but of course will only take the credit for his involvement in helping to save us all.
Times are hard but due to inner desperation for any ray of light we immediately jump unto the first thread of good news when it appears. There's nothing wrong with that but it does need to be looked upon against the general economic backdrop. The actors may come and go but the stage and it's backdrop will remain throughout. Let's not forget the bigger picture it's still an overall downward trend and in fact needs to be in order to shed the economic/lifestyle excesses of recent years. Gordon allowed it to happen but of course will only take the credit for his involvement in helping to save us all.
Joined: Sep 2003
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From: Scottish FIR
From Robert Peston this morning about the conditions of the rescue deal:
1) Taxpayers are injecting £37bn of capital into just three banks, RBS, HBOS and Lloyds - with RBS and HBOS taking £31.5bn of that (this is nationalisation Jim, though perhaps not precisely as we know it);
That's a lot for the tax payer to stump up. Government has to borrow and add to already spiralling national debt. Tax will go up.
2) RBS and Lloyds TSB/HBOS have promised to the government that they'll maintain mortgage lending and small-business lending at 2007 levels - which is massively more than they are currently lending (this is hugely significant - given that a shortage of credit is to a large extent behind the economy's deceleration into recession levels);
Wasn't the massive lending that got us into this? ....and what if they don't maintain 2007 levels of lending? RBS LTSB and HBOS, although big in the UK, fairly small players on the global stage. What happens if other world banks don't come to the party, because there is no guarantee they will, and if they don't, I cant see how the rescue will work.
3) Lloyds TSB is paying less to buy HBOS than it originally announced, to reflect the disclosure that HBOS's problems are rather worse than it thought just a couple of weeks ago;
How does one failed bank take on another failed bank?
4) Barclays is raising £10bn from selling new shares and securities to private-sector investors, abandoning its dividend for the second half of this year, and taking other actions;
The only bit that makes sense to me.
---------------------------------------------
The rescue raises as many questions as it does answering existing ones
Stock markets have stabilised this morning, I would not call it a rebound. Look at HBOS, LTSB, RBS shares, all down significantly.
1) Taxpayers are injecting £37bn of capital into just three banks, RBS, HBOS and Lloyds - with RBS and HBOS taking £31.5bn of that (this is nationalisation Jim, though perhaps not precisely as we know it);
That's a lot for the tax payer to stump up. Government has to borrow and add to already spiralling national debt. Tax will go up.
2) RBS and Lloyds TSB/HBOS have promised to the government that they'll maintain mortgage lending and small-business lending at 2007 levels - which is massively more than they are currently lending (this is hugely significant - given that a shortage of credit is to a large extent behind the economy's deceleration into recession levels);
Wasn't the massive lending that got us into this? ....and what if they don't maintain 2007 levels of lending? RBS LTSB and HBOS, although big in the UK, fairly small players on the global stage. What happens if other world banks don't come to the party, because there is no guarantee they will, and if they don't, I cant see how the rescue will work.
3) Lloyds TSB is paying less to buy HBOS than it originally announced, to reflect the disclosure that HBOS's problems are rather worse than it thought just a couple of weeks ago;
How does one failed bank take on another failed bank?
4) Barclays is raising £10bn from selling new shares and securities to private-sector investors, abandoning its dividend for the second half of this year, and taking other actions;
The only bit that makes sense to me.
---------------------------------------------
The rescue raises as many questions as it does answering existing ones
Stock markets have stabilised this morning, I would not call it a rebound. Look at HBOS, LTSB, RBS shares, all down significantly.
Joined: May 1999
Posts: 1,846
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From: Bristol, England
The Daily Mash (caution, language used on some of the pages may offend)
Joined: Jun 2008
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From: Just a bit lower than the point where the falling angel meets the rising ape
This Just In!!
ROBERT PESTON TRANSFORMED INTO PURE ENERGY - The Daily Mash
Seriously though. I get your concern about point 2. I don't necessarily think it was the amount of lending that created the problem as such, rather who it was being lent to...
I'd be interested to see how the Barclays plan works. RBS tried to sort themselves out (albeit via different means) and fell flat on their arses.
As for point 1. Won't the Govt. be coining it in repayments from said banks if all goes well (for a given value of "well")? Although I have no doubt that some will see the chance to raise more tax in these troubling times as an opportunity not be sniffed at.
For my own part, I see this as an attempt to slow the fall, so the crash at the end isn't too great. i.e. salvageable bits as opposed to all out catastrophe.
And as ever, I am slightly dismayed at the extent to which a basically abstract idea can, when questioned, seriously affect things like the food on my plate and the roof over my head.
(btw, I'm learning LOTS about stuff I'd never thought I'd learn about, on this site. Thanks guys!
)
Seriously though. I get your concern about point 2. I don't necessarily think it was the amount of lending that created the problem as such, rather who it was being lent to...
I'd be interested to see how the Barclays plan works. RBS tried to sort themselves out (albeit via different means) and fell flat on their arses.
As for point 1. Won't the Govt. be coining it in repayments from said banks if all goes well (for a given value of "well")? Although I have no doubt that some will see the chance to raise more tax in these troubling times as an opportunity not be sniffed at.
For my own part, I see this as an attempt to slow the fall, so the crash at the end isn't too great. i.e. salvageable bits as opposed to all out catastrophe.
And as ever, I am slightly dismayed at the extent to which a basically abstract idea can, when questioned, seriously affect things like the food on my plate and the roof over my head.
(btw, I'm learning LOTS about stuff I'd never thought I'd learn about, on this site. Thanks guys!
)
Joined: Sep 2003
Posts: 344
Likes: 0
From: Scottish FIR
And as ever, I am slightly dismayed at the extent to which a basically abstract idea can, when questioned, seriously affect things like the food on my plate and the roof over my head.
(btw, I'm learning LOTS about stuff I'd never thought I'd learn about, on this site. Thanks guys!)
