is the sh## starting to hit the fan ?
- Thread starter frank
- Start date
nope 
I'm in food retailing so not much of a difference as people need to eat lol
I'm in food retailing so not much of a difference as people need to eat lol
Our shop business is well down, combination of less customers, supplier increases in trade prices and us having to increase our prices to try and maintain the same margins.
On a major plus side our internet business is growing at an 81% growth which is amazing when you compare the average internet growth is only at 30% this year and current financial climate being the way it is.
Plus the busiest time of year for us is yet to come
Kev
On a major plus side our internet business is growing at an 81% growth which is amazing when you compare the average internet growth is only at 30% this year and current financial climate being the way it is.
Plus the busiest time of year for us is yet to come
Kev
ollie240585
Ex. Club Member
My Company is a manufacturer of drainage pipe and fittings. We're in the strange situation where we're actually expanding, taking on new staff, increasing the technical and sales departments and making a new department.
Luckily we're in the commercial market and if it wasn't for the olympics this wouldn't be the case!!!
Luckily we're in the commercial market and if it wasn't for the olympics this wouldn't be the case!!!
ronin_kid
61 cubic inches of power
i work part-time for a DIY retailer, and in the last week weve been told the company is to undergo 'restructuring', probably meening those with multiple job-roles (part-time team-leaders, trainers and admin assistants etc, who also work on the shop floor) may loose their secondry roles, and thus take a cut in pay...
tse_adam
Micra Attitude
Education institute here, economy slow down or recession do not affect us much. there will be a re-structure coming soon but that only means removing the useless old logs and create more opportunity for us more experienced employees to move up.
i know a few friends made redundant in the IT industry but thats about it. i still eat, drink and drive the same way.
i know a few friends made redundant in the IT industry but thats about it. i still eat, drink and drive the same way.
OP
OP
frank
Club Member
here banks are rising they interest on credits....and automaticly rising rates of credits for the final consuments....
not just the yank,s, i watched a little vid last night that explains how the money markets work (a bit long, but a REAL eye opener)
http://video.google.com/videoplay?docid=-9050474362583451279
it basicly explains, that there,s less than 5% of "real" money (or gold, etc) swilling around in the world,s pot of finance, and the other 95%+ is purely debt (every time we sign a mortgage or loan or credit card transaction, that amount is added to the pot
).
Our company can't get any finance for IT equipment at all!
Banks are giving out loans, as they can take advantage of the higher interest rates and earn more money back. It's also a very good time to save as again they're offering higher interest rates for customers. They basically need your money so they can dish it out again to other people, but it's extremely difficult for anyone to get a mortgage at the moment.
i think you are right, i have just put what i have done, i need to pad it with crap lol
seconded
i am soo up for that apparently the car factory,s are gearing down for 4 day weeks, and random 1 week shutdowns
Nothing so far, although the mangers have notcied that only race cars and the really expensive models are selling (basicly people that are so rich there un affected) and Japan are importing more than ever.
not just the yank,s, i watched a little vid last night that explains how the money markets work (a bit long, but a REAL eye opener)
http://video.google.com/videoplay?docid=-9050474362583451279
it basicly explains, that there,s less than 5% of "real" money (or gold, etc) swilling around in the world,s pot of finance, and the other 95%+ is purely debt (every time we sign a mortgage or loan or credit card transaction, that amount is added to the pot
yes i know but this last crisis is because american banks have give the credits for realestate to those who couldnt pay them back..the poor people....(i dont say that was bad
) and banks have started to lose they money...and the system collapsed simple as that...automaticly prize of stocks of the banks started to lose on value...automaticly whole market of stocks became unstable...at the end...it will all came back on the poor people and hard working middle class of people...thrz the interests on credits etc....
richj
Deactivated Account
yeah it will be the poorest that pay the highest price. This is how banks work - they lend money to make money. Like the guy on tv said last night, it is the government at fault not the banks. The banks have no moral obligation, only legal. This is why they are regulated. Like davor said, the banks lost loads of money backing england to beet brazil 10-0, now we will all have to pay the price, especially if the states cant buy out their bad debt.
Robb
Site Supporter
Not wishing to deviate here, but did anyone hear the Chris Moyles show the other morning, they were giving their two pence (like they do) on the 'credit crisis', i think it was comedy dave who said, with sincerest critique: 'why dont they just print more money?' :suspect:
Since then i keep hearing people saying the same thing, (my gf's brother in law, people in tesco's etc.). Its so annoying! Cos im not clever, and as a result i find it hard to explain how much of a bad thing that is!
Since then i keep hearing people saying the same thing, (my gf's brother in law, people in tesco's etc.). Its so annoying! Cos im not clever, and as a result i find it hard to explain how much of a bad thing that is!
If you print more money, then money itself becomes worthless. Only if you printed money in secret, would it be of any gain.
The thing I find amusing, is that this whole concept of money, and debt, and credit is entirely human based. There is no natural disaster, nothing out of our grasp. For some reason, we playing by our own rules.
I work in retail, and prices have gone up, and customer numbers have gone down, and earnings have gone down, but I got a pay rise this month, which is nice
The thing I find amusing, is that this whole concept of money, and debt, and credit is entirely human based. There is no natural disaster, nothing out of our grasp. For some reason, we playing by our own rules.
I work in retail, and prices have gone up, and customer numbers have gone down, and earnings have gone down, but I got a pay rise this month, which is nice
ollie240585
Ex. Club Member
Printing money is not the answer as it just decreases in value. Germany done this after WWI due to having to pay loads of money out in the treaty of versaille. The German economy became absoloutly useless. People were taking wheel barrows of money home, and the wheelbarrow was worth more money.
Basically we're gonna be going through crap for a few years to come. Older members have seen several recessions (early 80s, late 80s and early 90s) but I've been led to believe this is the worst.
All we can do is bite the bullet and see what happens to the economy. Things are going to get worse before they get better!
Basically we're gonna be going through crap for a few years to come. Older members have seen several recessions (early 80s, late 80s and early 90s) but I've been led to believe this is the worst.
All we can do is bite the bullet and see what happens to the economy. Things are going to get worse before they get better!
Antony
Ex. Club Member
halfords is actualy doing better now than last year..lol
partly due to people buying bikes instead of driving cars, partly cos the cars on the roads are now older (less people buying new) and then theyre keeping them on the road.... and partly cos weve been trhough a couple of recessions in our 101yr history.
but also due to motorworld shutting down. so no competition there anymore (not that there was much anyway)
Curry's laying off all of their deputy managers (lots more experienced staff for halfords to take on)
and partly cos were good at what we do.
wait till you lot see the 2009 bike range weve got... your gonna wet yourself..lol
partly due to people buying bikes instead of driving cars, partly cos the cars on the roads are now older (less people buying new) and then theyre keeping them on the road.... and partly cos weve been trhough a couple of recessions in our 101yr history.
but also due to motorworld shutting down. so no competition there anymore (not that there was much anyway)
Curry's laying off all of their deputy managers (lots more experienced staff for halfords to take on)
and partly cos were good at what we do.
wait till you lot see the 2009 bike range weve got... your gonna wet yourself..lol
Retepetsir
King of Subsonic
Complete opposite for us, I'm working as an engineer for Network Rail and we're investing £30bn over the next five years. More people are using trains!
Robb
Site Supporter
Wish i was more awake to this a few years ago, more than doubled in value in the last five years. I have been telling my folks to buy gold for nearly a year, but instead they put a load into premium bonds, which in itself is a good thing, but not as good as gold for the time being!
Not necessarily true - mortgages are out there, it's just that they are only offering sensible amounts to people who can repay them - the days of the >90% mortgage are (thankfully) dead.
Did you see that Northern Rock have withdrawn many of their higher interest savings what a turnaround..
And where is that money coming from Pete????
savings are covered to £50,000 now ??
how the hell are the government going to guarantee ANY savings when they already owe over £600 billion in national debt
Because they are never going to pay it and if they do it will be because the banking system has totally failed and we'll be well on our way to hyper-inflation, either that or they'll give it out in government bonds.
I work in credit management so we should be laughing soon, as long as all the companies don't go bust...
Retepetsir
King of Subsonic
£27.8bn from government, the ORR (Office of Rail Regulation) did their own calculations and said that £27.8bn was enough for what Network Rail wanted to do, along with increasing efficiency by another 30% in 5 years (its already done this in the last 5 years, so the next 5 is a big target).
Unfortunately when the railway was privatised it went out of control, with lots of things not being replaced/maintained as they should which means we're now paying for those bad decisions. Hopefully this money will rectify the problems and make the british railway world class
richj
Deactivated Account
Frank, they can just borrow more. Government bonds (guilts) are just about the safest place to put your money, much more so than gold. Lending money to the government is not a bad investment. Mind you, if everyone lost all their savings tommorrow, who would have any money to lend?
tse_adam
Micra Attitude
I cannot say enough how much i hate the train service within the UK. They are very expensive, always late, changes to bloody bus service without warning, cancel service without warning, trains are filthy and so are the stations! :down:
I hope the £30bn can bring improvement but it will mean years of delays due to maintainence work :down:
In addition, i dont want to sound selfish sort of thing but the economy collapsing means a glimmer of hope for us first time buyers to be able to get on the property ladder. But it looks as if i have to wait for a few more years for it come down to a reasonable price!
and i wish to point out the share-ownership schemes for first time buyers are rubbish! lol
£27.8bn from government, the ORR (Office of Rail Regulation) did their own calculations and said that £27.8bn was enough for what Network Rail wanted to do, along with increasing efficiency by another 30% in 5 years (its already done this in the last 5 years, so the next 5 is a big target).
Unfortunately when the railway was privatised it went out of control, with lots of things not being replaced/maintained as they should which means we're now paying for those bad decisions. Hopefully this money will rectify the problems and make the british railway world class
National services like that should never have been privatised, but that's a whole different political rant.
Also, the only way that house prices will fall to an 'affordable' level will be if unemployment gets much higher which I don't think that anyone wants...
teambadger
Ex. Club Member
redundant
i worked for westfield sports cars till last week,made redundant and all the body shops and garages are very quiet. so no job
i worked for westfield sports cars till last week,made redundant and all the body shops and garages are very quiet. so no job
Robb
Site Supporter
Sorry to hear that, how long had you been there?
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