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economic situation is dire


ianrobo1
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Private landlords are scum..

Shit, Ian, sometimes you do post some of the most frightfully incendiary stuff.

Some private landlords are, indeed, not the most caring, socially-responsible people in the world.

Some are as nice as pie.

Perhaps the ones. whose shenanigans your other half relays to you. are not very pleasant (that would be quite logical if she is dealing with people made homeless by landlords) but to categorise them all as 'scum' - blimey. :shock:

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Interestingly enough, the most recent breakdown I can get for the USA is:

Owner-occupied: 68%

Renter-occupied: 32% (incl. both private and social rental)

Generally rents come to anywhere between 75-90% of the mortgage for a similar property, though in a few markets prices have dropped enough for mortgages to be cheaper than rentals (though when property taxes, insurance, and maintenance are added in, it's still somewhat more expensive to own than to rent).

so another economy in the deep shit with high owner occupation

get the picture ?

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Private landlords are scum..

Shit, Ian, sometimes you do post some of the most frightfully incendiary stuff.

Some private landlords are, indeed, not the most caring, socially-responsible people in the world.

Some are as nice as pie.

Perhaps the ones. whose shenanigans your other half relays to you. are not very pleasant (that would be quite logical if she is dealing with people made homeless by landlords) but to categorise them all as 'scum' - blimey. :shock:

yes it is me exaggarting to make a point because I know three peopel who rent one home out and are perfectly fine but seriously you should check out the private landlords my Mrs's has to deal with some of the behavouir is sickening and scum for them would be right

but as usual lets debate one emotive than the actual point and the table Gringo does show a correlation, Hugary is reckoned to be very close to bankruptcy, Ireland as CV will confirm is in depserate straits and we know about the UK and US

just can someone tell me why rising house prices under any circumstances is a good thing because when they crash everyone gets burned

our whole economies have been based on the housing market and when the great council house sell off happened it was sealed as the way to go

before thatch robbed the country of it's assets anyone know what the figures were the and how many got sold off ?

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but as usual lets debate one emotive than the actual point

If you don't want your ridiculous categorisation of all private landlords as 'scum' - a word generally used on VT to describe peadophiles, murderers or fans of SHA - to be discussed then don't use it.

As you said in your original post, you know that there are plenty of people on here who are landlords (often by circumstance): your post wasn't 'emotive'; it was both incendiary and idiotic.

seriously you should check out the private landlords my Mrs's has to deal with some of the behavouir is sickening and scum for them would be right

Which is pretty much what I wrote, wasn't it? Apart from the 'scum' comment which I would rarely, if ever I hope, use.

BTW, I would argue that it is not high 'owner occupation' which is the problem. It is the circumstances surrounding the 'ownership' which is the problem.

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but snowy the 'circumstances' are mortgages and a free market, eys we both disagree with that but it seems the majority want that

pretty soon the pain will really show, the first large scale redunacies were about 4 months ago and pretty soon after 6 months we will see house repossesions ad then it will start

just wished we could see a government scheme where they take over the mortgage and take ownership of the houses, if it is clear the occupier can not even pay a small sum the government buys the house for rent

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HSBC are now having to raise £12bn but surely that is normal in a recession are they looking for the government to bail them out too ??

No

Will be a through a share option scheme

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HSBC announce PROFITS of 6.5 Billion pounds this morning!!

Just on Sky News!

EDIT: Initially announced as 14 Billion

Still capped my cash bonus at 100% though :x

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HSBC are now having to raise £12bn but surely that is normal in a recession are they looking for the government to bail them out too ??

No

Will be a through a share option scheme

so it seems, just need to put up their balance sheet a bit more but we have heard that befre but HSBC looks fine

and before we get stuck on me using 'scum' then I apologise for using a emotice term and would temper it with saying some private landlords are scum.

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The FTSE 100 closed down 204.8 at 3625.8 points - the 14th largest percentage daily fall recorded by the blue chip index. Since the banking crisis moved up a gear last October, the FTSE 100 has fallen by at least 5pc on eight occasions, with the steepest plunge of 8.85pc coming on October 10, 2008.

David Buik of BGC Partners said: "While it is very easy to get sucked into the spiral of doom and gloom in markets like these, the problem facing investors is that there really is negligible positive news out there."

He added that recent moves in major stock markets are reminiscent of the almost panic-selling we saw back in October last year. "The fact that markets have broken below those lows leaves the rally at the end-of-last-year as just another dead-cat bounce," he said.

Today's drop is still someway behind the FTSE's largest - which came on August 20, 1987, the day after the Black Monday when the index fell 12.2pc.

Today investors were spooked by HSBC's £12.5bn rights issue, which is priced at an almost 50pc discount to the closing price on Friday, while sentiment was also damaged by stock market falls in Asia.

HSBC, Europe's largest bank, had previously avoided any form of capital raising. However, in its full-year results, it warned that 2009 will be "difficult" and reported a $15.5bn (£10.9bn) loss in the US. The bank's shares tumbled 19pc to 399p, dragging Lloyds Banking down 15pc to 49.4p and other banking shares.

Sentiment was further dampened after ailing insurer AIG reported a $61.7bn (£44bn) fourth-quarter loss and the US government said it would give it another $30bn on top of the $150bn it has already received.

The Dow Jones Industrial Average fell 144.8 - or 2pc - to 6918 points within minutes of opening and was trading down 3.3pc, or 237 points, shortly after London closed. Germany's DAX and France's CAC fell 3.5pc and 4.5pc respectively. Earlier, Japan's Nikkei index closed down 3.8pc.

In the last major bear market which ended in 2003, the FTSE 100 traded down to the 3300 area before starting the long-climb up. Britain's blue-chip index has not closed below 3,700 since the outbreak of war in Iraq at the end of March 2003.

"That’s the next level that traders are eyeing now," said Mr Buik. "But the nagging doubt for many is that the economy today is in a much worse shape than back in 2003- and at the moment there’s a distinct lack of any green-shoots of recovery."

Telegraph article

It isn't looking too clever at the moment is it?

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For a moment, back to 'the shred':

Can he not be prosecuted? As the most senior officer of the company, who not only ran it into the ground but also raised capital on what really must have been little less than a lie, can he not be prosecuted under the Insolvency Act? What were RBS other than that until UK plc stepped in?

As far as that goes, can't we look at recovering Fred's pension under SOCA asset recovery plans?

If he had nicked your mobile 'phone, you'd be calling for his guts. Don't believe his crime is victimless, campaign for his prosecution.

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good question Snowy and one Andrew Rawnsley posed in the observer, ultimately though did he actually do anything illegal ?

However as he is in his position to look after shareholders interested which be blantatly failed at then could they sue him for negliegence ?

considiring how much they have lost

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However as he is in his position to look after shareholders interested which be blantatly failed at then could they sue him for negliegence ?

considiring how much they have lost

That would be brilliant because it would set a precedent for 60 million owners of UK PLC to sue the shit of the government for utter incompetence.

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good question Snowy and one Andrew Rawnsley posed in the observer, ultimately though did he actually do anything illegal ?

If he were running a company that was ultimately bust then yes, IMO.

If we want to fish then it appears that Ken McDonald would like to push himself forward as a fisherman.

I'd prefer that everyone held him to account rather than it was left to the litigatory melee.

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thats the point I guessed he failed to protect the shareolders interests

however like with a few things you would hope that any ew contracts i the future allows for failure and withdrawal of benefits.

and the BS we heard that these companies had to pay so much for the very best has been totally blow to bits, said it before but a lot has changed the past year, a lot.

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porn biz hurting in downturn

No, the pornography industry is not recession-proof. "Recession-resistant" is a more accurate term these days, and even that assumption is being tested.

The adult entertainment industry is not only seeing its DVD sales plummet as consumers watch more porn online, but the estimated $13 billion industry is also having its own version of a Napster moment - named after the Silicon Valley company that transformed the music industry by allowing users to share songs free online.

Over the past year or two, an increasing number of online sites - dubbed "tube sites" for their emulation of the video-sharing site YouTube - have offered snippets of free porn, some of it pirated, some of it legally obtained from longer films or amateur-shot footage.

Vivid Entertainment founder Steven Hirsch, a longtime porn heavyweight who sued one of the free porn sites for illegally using his company's material, say the Los Angeles company's DVD sales have dropped 30 percent in the past year, and the free porn sites are adding economic insult to injury.

"Between the DVD sales, the piracy, the free porn online and the economy," Hirsch said, "I've never seen it this bad in 25 years in the business."

Compounding the challenge is that the porn industry as a whole has done little navel-gazing - at least of the financial or strategic-planning kind - over the years. While the X-rated industry has always been among the first to adopt new technologies, it has not always embraced long-term forecasting. It hasn't had to, analysts say, because the forecasts were always so rosy.

"But that is changing," said Sarah LoPrinzi, an industry analyst with XBIZ Research in Los Angeles. She says the industry is "recession-resistant" and points to an XBIZ Research study released this year that found that 72 percent of the adult entertainment companies it surveyed either use new technologies or plan to soon.

"More attention is being paid to the business side of things now," said LoPrinzi, who has been an analyst in the technology and oil industries. "It's like the adult entertainment industry is growing up."

Other parts of the adult business haven't suffered. Stockroom.com of Los Angeles, which sells more than $10 million annually in adult accoutrements and owns the Stormy Leather store in San Francisco, had record sales in January.

"Hard goods like we're selling are not as affected by the tube sites," said Stockroom.com President Mike Herman. "People are still buying, but the average ticket we sell (an individual) is down 10 percent."

One of the companies caught in this X-rated digital transformation is San Francisco's 12-year-old Kink.com. Long considered ahead of the curve in the adult entertainment industry because of its focus on the online market, Kink is a collection of 17 Web sites that focus on 30- to 40-minute fetish videos.

While some may find Kink's content distasteful, it has been profitable enough for its Columbia University-educated, England-born founder Peter Acworth to employ approximately 100 people in a four-story military armory in the Mission District. Last year, Kink went on a hiring binge, increasing its staff by 35 percent. The future looked bright, as Kink had plans to introduce several new sites this year.

But last month, Kink laid off 13 employees and scaled back plans for the new sites after business began to flatten. Acworth remains optimistic, but comparing this recession to other economic periods that have negatively affected the porn industry is difficult.

"The day of 9/11 was a (lousy) sales day; 9/12 was mediocre; but by 9/13 it was back to normal. Restaurants may have been empty, but everybody else stayed home and consumed porn," Acworth said. "But this time around there's more of a long-term trend going on" that has to do with the economy."

The unpredictable factor, Acworth said, is the "proliferation of free content available on the Internet." For the past several months, Acworth has designated a Kink employee to spend part of each day scanning the Net for pirated versions of the company's productions.

Vivid's Hirsch said his company sends out 700 Digital Millennium Copyright Act takedown notices a month to sites that have pirated its content. And in late 2007, Vivid filed suit in federal court against PornoTube and its parent, Data Conversions Inc., which does business in Charlotte, N.C., as Adult Entertainment Broadcast Network. It accused the free site of profiting from pirated clips of copyrighted material that is placed online there.

But industry analysts - and porn producers - do not yet have any hard data on the tube sites' effect on the industry.

"It's hard to measure," said Dan Miller, editor in chief of Adult Video News, which has chronicled the X-rated industry for 26 years. "It has really gained steam over the past year, though. When material shows up on those sites, nine out of 10 times the original producer doesn't know how it got there.

"It's more of a Napster thing that's going on now in the industry," Miller said.

Kink, say analysts like Miller and LoPrinzi, is better prepared to weather the recession than most porn sites. Because it caters to a niche market, it has formed a community with its users.

The company is planning to expand the number of live shows, in which viewers can comment online and communicate with the director and performers. The idea, said Kink Chief Operating Officer Daniel Riedel - a Yahoo.com veteran - is to offer users an experience that the free tube sites can't.

"It's unpiratable content," Riedel said. "A pirated movie you can take and watch over and over again. A live one-on-one experience - you can't pirate that."

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