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Crossbow

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About Crossbow

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  1. Yes, you may well be right. I knew a "friendly mortgage broker", now sadly deceased, who offered to supply me with "any mortgage I wanted", when I was a 26 year old owner of a fledgling company in a precarious financial position. This was in 1988. When the Liar Loans started again more recently, I couldn't believe the lessons of the 1990s house price crash hadn't been learned. Give it 10 - 15 years and a new generation of lambs to the slaughter and the same will doubtless happen again.
  2. Well spotted, that's a personal bankruptcy in action I suspect - what price Jingle Mail here? I might pop along to that auction, out of interest. One thing, I can't see guide prices on the BM Auction Catalogue - I could have sworn they were quoted before. I'm not an EI subscriber - is that where you got the guide from?
  3. Marvelous post, good common sense. We all know that the UK as part of the global business village really is "too big to fail" and while we will be paying this debt off for 40 years, the payments will be met and we will survive. My company was approached today by an existing German customer. He may want us to provide transport for him throughout Europe from the UK as it is now looking cheaper than using local hauliers and he is moving his manufacturing base to the UK due to the weak £. This scenario will be being duplicated all over the country. LIke it or not, some Government policies will work, despite what often seems like Labour's best efforts.
  4. I am renting a villa in Paphos at the moment, at 600 Euros for the month it is about 60% of the price asked last year. The owners are british and are selling up and asked me if I wanted to buy it - for 600,000 Euros! I politely declined. Speaking to the ex-pats, it is striking how many have put their homes here up for sale and are being forced to return to the UK - of course they haven't twigged yet that property prices here are falling, same as many haven't in the UK. The cyprus property market seems to me to be at least as overvalued as the UK - much of the build quality is abject but a 1 bed flat in a nice area of Paphos is being offered at anything up to 190,000 Euros. I fear a financial bloodbath for the ex pats here and the property market in general.
  5. Apart from the Dubai bit though he's amazingly talking a lot of sense. Said The Mirror made a mistake in supporting Blair for a start. Fair play to him, he got fooled like all the other idiots who voted for Labour.
  6. How about Sibley, he seems articulate enough.
  7. Hopefully once he has a history of sensible posts like he has contributed to this thread. You can't deny he's been a model troll in the past.
  8. I was at the Allsop auction on 17th December and the place was half full at best and while I was there at least 50% of the properties were unsold. They must have been 100% successful for the rest of the year.
  9. Of course there is, anyone with substantial funds in cash will be looking for alternative investments, I almost went for it myself and I still might at some stage. I am only too aware though that this is a ploy, used by the government to snare cash from its' non-core voters and will be seen in a few years as this recession's classic bull trap and the OP clearly fails to recognize this (I wonder why?)
  10. I attended this auction yesterday out of interest. One thing struck me as very odd. There were 200 seats and at least a similar number standing, so very well attended. However, after about 90 minutes, the numbers dropped drastically, I would estimate over half of the attendees had left. It was clear that on certain properties the guide price bore no relation to the reserve, so I wonder if the potential bidders voted with their feet for that reason. The phrase "I can't sell it for that" or "my customer needs more for it than that" were uttered consistently by the auctioneers throughout the morning. The second auctioneer mentioned after several lots that the owners were often keen to negotiate after the event at less than the reserve price, but the negotiations desk was quiet all the time I was there. There were about 6 besuited gel-heads standing on the podium waiting to escort winning bidders to the contracts desk. They were largely unemployed for the morning.
  11. Yes, please keep the reports coming, they are very interesting. My company works as a service supplier to big retail and the cuts to investment have been savage so far. One of our customers refurbishment budget of £19m for 2007 cut to ZERO for 2008 and 2009, another from £40m 2007 to £18m 2008 (not all spent with my company I hasten to add). This will mean my own firm's turnover will fall by 60% 2008 over 2007 and will I expect fall by another 50% from there in 2009. I have cut jobs and costs and will ride it out as we have no borrowing - I learned from 1991 what to expect this time, but our suppliers are going to the wall regularly - 7 have gone since January from our supplier base of 92, all small owner operators. The human cost is tragic in all this, but the Tory MP who said the recession would just have to play out was 100% correct in my view.
  12. Serves you right for reading posts made in the middle of the night.
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