An update on the Recssion

[Aussie_Rail]

As 2009 comes to an end and we enter 2010 I would like to have a discussion about the recession and the GFC. There was a thread all about the recession and its effects a few months ago, but I had no luck in finding it.

Since the last discussion has anything changed? Have things turned positive at all or have things gone worse?

For companies and businesses have there been any more prolific companies go belly up?

 

[Mojo]

Borders/Books etc. (the same company) have recently gone into Administration and are now selling their stuff off cheap, with some store closures already.

 

[TrainBrain185]

As 2009 comes to an end and we enter 2010 I would like to have a discussion about the recession and the GFC. There was a thread all about the recession and its effects a few months ago, but I had no luck in finding it.

Since the last discussion has anything changed? Have things turned positive at all or have things gone worse?

For companies and businesses have there been any more prolific companies go belly up?

Hi Cobber, I watched BBC News 24 article quite recently that you guys down under are bucking the trend regarding the worldwide reccession. Is there some truth in that?

Regarding has anything changed here in the UK? Well, not far from where I live, 1700 jobs are to go with the closure of the local Corus Steelworks in Redcar, Teeside, with many more threatened locally with the knock on effect of the closure.
I have an extremely negative view regarding the fortunes of the UK economy for 2010. Wished I could think otherwise. However, the job I have seems secure with my TOC, so I think myself fortunate being a Railway based employee.
We have a General Election due in 2010. In the past, a new Government with new ideas and promises has been something to perhaps take into account and be a positive to look upon. Not so this time because whoever takes over on this occasion, things will not improve due to the mess we are in.

 

[Mojo]

Is it just me, or are the government propping up the advertising industry? It seems at least 30% of adverts I see/hear, maybe more, either billboards or TV/radio are some sort of government campaign; don't drink/drive, don't eat too many fatty foods, turn your heating down, don't leave valuables in your car, be aware of strokes, pay homage to your great leader, etc.

Okay... I made the last one up, but still

 

[Oswyntail]

....whoever takes over on this occasion, things will not improve due to the mess we are in.

And this current government, more than any I can remember, are indulging in a "scorched earth" policy, setting up and maintaining agreements that will make things impossible - and then having the cheek to put up a bill committing the government to reducing public debt within a year.

 

[Aussie_Rail]

Hi Cobber, I watched BBC News 24 article quite recently that you guys down under are bucking the trend regarding the worldwide recession. Is there some truth in that?

Yeah, that's true, we never went into recession, so I guess that's something to be proud of.

 

[Dai.]

The companies going under is just because they were stupid enough to assume this year as any other year, they knew it wasn't going to be a normal year so why plan out like a normal year?

Businesses smart enough to plan out in a way ready for such a recession have seen growth in a customer base and profit base this year.

Sir Alan Sugar and many other professionals mentioned it at a business seminar this year, Sir Alan swore at the BBC when asked about the recession and small business owners laughed at the word 'recession' and said their profits had doubled.

 

[Pumbaa]

Another one today, Scottish airline Globespan, has gone into administration.

http://news.bbc.co.uk/1/hi/scotland/edinburgh_and_east/8417183.stm

 

[TrainBrain185]

21,000 more job losses recorded in the last quarter here in the UK.........

 

[90019]

Sir Alan Sugar and many other professionals mentioned it at a business seminar this year, Sir Alan swore at the BBC when asked about the recession and small business owners laughed at the word 'recession' and said their profits had doubled.

Ah yes, Sir Alan Sugar on the recession;
http://www.youtube.com/watch?v=xAGT0GXERT4
HIGNFY's current favorite clip

 

[37401]

Borders/Books etc. (the same company) have recently gone into Administration and are now selling their stuff off cheap, with some store closures already.

Yeah the one in the Bullring has 70% off but sadly all the good stuff has gone

 

[me123]

Globespan's hardly a surprise. They've had problems before, and they were certainly leading up to it in the last few days.

 

[Old Timer]

Ah yes, Sir Alan Sugar on the recession;
http://www.youtube.com/watch?v=xAGT0GXERT4

Even Government figures show the Country is in recession :roll::roll::roll:

To be honest Sugar demonstrates the less pleasant approach to leadership which others now seem to be following, and which ultimately leads to confrontation and low moral.

 

[Failed Unit]

Globespan's hardly a surprise. They've had problems before, and they were certainly leading up to it in the last few days.

Shame for all the people that have been involved, but from what I know about Globespan I am honestly surprised they lasted this long. I last used them in 2008 and you could tell they were in big trouble then. Some of the routes to the US had to be routed via Iceland as they lost their cert to fly direct toi the US. 757's subbed with 737's. I know people like me help them collapse but I just dare not book with them anymore in case I ended up been one of the unlucky stranded.

 

[Old Timer]

Latest information is that the Pensions Regulator does not agree that with the liabilities calulation of the BA Pension Fund £3.7bn as opposed to the capitalisation of BA £2 - £2 1/2bn.

The suggestion is that the deficit is much greater.