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longtomsilver2

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About longtomsilver2

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    HPC Poster
  1. The £10,000 proposed is much too high. I had a figure in mind like £175 a month and scrapping the personal allowance altogether (so tax neutral in most cases) and leave the tax bands as they are. 20% on first £50k of earnings 40% above £50k and scrap child benefit and tax credits altogether.
  2. Last time I shopped in Primark was probably around ten years ago, jeans were good and t-shirts cheap and plentiful. Last time I tried to shop there was maybe two years ago and the clothes just looked nasty, poor fitting and cheap but not cheap actually really bl00dy expensive. I'll never step in there again. Superdry has gone downhill too. Shirt looks good on the clothes hanger until you wash them a few times then lose shape, threads and generally fall apart. Woolly jumpers still excellent though.
  3. DWP the sanctimonious bar stewards. They tried to do the same to me after I had worked for them for two years. With some previous military experience I got compulsorily called up to serve in Iraq and they let me go (Job Centre) which I only found out about when I opened my front door after only just stepping off the place, P45 in a brown letter no note explaining why etcetera. In fairness to the Army they had a panel set-up to redress this and offered to help but as it was April (coming up to paragliding season) I opted to sign on My interventionist (a job I was quite used to from the other side of the desk) threatened to sanction my payment if I didn't apply for the lowest grade role currently available at the same job Centre I had previously worked for (principles aside a big pay cut as I had managed to get myself up the pay grade before with extra responsibilities (rostering others I kid you not) and time already served. I looked him in the eyes and told him simply, to do that I would go straight to the Sun newspaper. Stopped him dead in his tracks. To this day there is a brass plaque in the DWP regional HQ commending them for employing reservists. Presented to then by my CO. ****s the lot of them. This man is one step away from the revolution we deserve and good on him. Once we reach critical mass there will be no stopping this.
  4. 33 years of full employment is a good run to have had. Be grateful for this and not the benefits you may have been entitled to in a different scenario. These life long benefit recipients have no life at all. The proposal is an insult by the way, that's what national insurance is for anyway.
  5. I wouldn't be so sure (with me holding 10,000 sainsbury's shares)... For a starter the German discounters continued success will be their achilles heel... they are fast running out of capacity to serve the customers (new and old) that they already have let alone take on many more from the big four. On a few occasions now I have found myself unable to park in the smaller car parks of Aldi and drive onto sainsbury's to shop instead. There have been times too when the queue is too much to stomach for a basket of items so I leave it there and walk out. The nectar card is being revisited as I believe that the big four are about to embark on a price war so the savings will be had at the till and not held on some consumer profiling marketing tool which if it wasn't for that they'd have done away with altogether.
  6. More cancers and men boobs?
  7. longtomsilver2

    Ukip Unveil First Mp

    UKIP is only the catalyst to dismantling the entrenched three party carousel of the 1%. I doubt very much will change with Nigel Farage in charge of our train set but it's less about what happens after the 2015 election and more about 2 or 3 general elections hence forward. Fool me once, shame on you. Fool me twice, shame on me.
  8. longtomsilver2

    Inheritance Now Misses The Middle Aged...

    Haha. My mum blew a large portion of her inheritance on investment grade fine art and bonded wine. Teacher btw
  9. A plasterer friend of mine went sick (hernia) at 58 after a lifetime of working and had no savings or home to show for it all (I still don't understand where it all went as he wasn't a big spender). Anyway he was on the social right through to 60 then pension credit took over. For all intents and purposes he retired 7 years before the state retirement age and was even told to consider himself retired from . that was my plan for two years and then TPTB moved the goal posts again and have pushed the age up where you can access private pensions to 57 and have a link whereby it'll track the state retirement age in future. If they move the goal post by 0.5 years every year for ten years mooted then it'll be age 62 before we can touch this, sorry that is too much for us so we'll be investing in a second property, a holiday home in or around St. Ives which will become our retirement home and our current abode in the midlands to become our letting one. Sorry peeps we are moving over to the dark side (five year plan - not taking on more debt just being happy in our current home and not moving up the ladder. Not ideal.
  10. longtomsilver2

    Cameron

    I couldn't possibly say but that video looks (and sounds) professional to me. Who funded it (ISIL maybe?)
  11. longtomsilver2

    Pret A Manger

    Exactly which is why I posted here. The writing is on the wall. With so much leverage in play it doesn't take much to have the rug pulled from under it. Greggs are now doing nicer baguettes and competing on price with the now industry standard £3 meal deals. There's no wiggle room.
  12. longtomsilver2

    Free Money - Thanks Wonga

    Wonga taking impaired assets off it's books. Makes me think Wonga are cleaning up their balance sheets and gearing up for a float?
  13. longtomsilver2

    Pret A Manger

    Our government wrote the book, provided the capital (£150,000,000,000) and dropped the base rate to 300 year lows. Trickle down (p155 take).
  14. longtomsilver2

    Pret A Manger

    The business model is uncannily similar to that of a person building a BTL empire. Buy a perfectly sound business/property leverage up by securitizing the debt on future earnings/rental income. Rinse and repeat 1 or a thousand times hollowing out as you go. When owning the company in the legal sense isn't really owning or having an interest in the company at all.
  15. longtomsilver2

    Pret A Manger

    Credit due to Reuters news feed which is where I pinched this from... LONDON, Aug 2 (Reuters) - Private equity firm Bridgepoint's coffee and sandwich chain Pret A Manger has raised a new 375 million pound ($568.5 million) loan to refinance existing debt and pay a 150 million pound dividend to shareholders, sources with knowledge of the deal said on Friday. Bridgepoint bought Pret in 2008 in a deal backed by 220 million pounds of debt, according to Thomson Reuters LPC data. It decided in June to get value out of the company by conducting a dividend recapitalisation - a refinancing process that increases a company's debt to allow a payout. Out of the 375 million pounds of new loans raised, 150 million pounds will be paid via a dividend to shareholders including Bridgepoint, management and Pret's founders, two of the sources said. European loan investors have traditionally frowned on dividend recapitalisations, and they tend only to be used in bull markets. Bank of Ireland, BNP Paribas, HSBC, ING, Rabobank, Royal Bank of Scotland and Societe Generale underwrote the new 375 million pound refinancing which includes a 40 million pound term loan A, paying 450 bps over Libor; a 265 million pound term loan B, paying 500 bps over Libor; a 30 million pound revolving credit facility, paying 450 bps over Libor; and a 40 million pound capital expenditure facility, paying 450 bps over Libor, three of the sources said. The term loan B was sold to investors at a 2 percent discount and allocated on Europe's secondary loan market on Thursday. It was quoted on Friday morning at 98-98.5 percent of face value, four of the sources said. By raising a new loan, leverage on the company increased to 4.17 times its EBITDA from a level of below 2 times in 2012. When Bridgepoint acquired the business, Pret's leverage was over 5 times, banks said in a statement in June when the deal was first announced. . As always with these venture vulture capitalists privatise the profits and socialize the losses.
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