flapjack

Wilkinsons are taking over the old Woolworths store in centre of Exeter. Recruitment underway at moment - reported in local press 800 turned up for around a 100 jobs. I suppose thats not too bad 8:1 ratio but seems a bit drastic as most of jobs will be at minimum wage. But not much choice down here - temp tourism jobs or care homes!

The Prime Minister will say today that the level of fraud is “absolutely outrageous” and an “uncompromising” strategy is needed. It really is time they got these politicians under control!

Connaught is spread across much of the UK, this a big employer - around 10,000 I think. Too big to fail? Will it be bailed out? This is one to watch I think - it will be a very bad sign for the economy if they do go out of business! 10,000 redindancies and the knock on effect will be horrendous. The firm is based in Exeter - if it goes that will be very bad for the city as well. Just goes to show what happens if you go around shouting 'cuts, cuts, cuts', without thinking through the consequencies. Plus all the MPs etc on holidays from today. Oh happy days -

Scary stuff - down by around 94% since last November. High of 444p - now at 29p - massive drop at end of June. A pure public service contractor - just goes to show what unintended consequencies can occur if you don't have a coherent strategy and just slash and burn. Connaught are a major employer down here in the westcountry - could be devastating. I think there will be major efforts to save them. Hopefully they will get some more contracts when the ConDems sort them selves out (if they sort themselves out). http://www.connaught.plc.uk/investors/shareprice/

How anyone can think we are not heading down the crapper is beyond me. Millions of $ 2000 2080 2163.2 2249.7 2339.7 2433.3 2530.6 2631.8 2737.1 2846.6 In 10 years the economy has grown by 42% and 200 million will be about 7% of GDP and thats without a single cut. But as the economy grows the Govn tax take will increase steadily so that deficit will be back down to 4 or 5% by then. Best thing is to do nothing!

Eric! Eric! Eric! Like the quote about - 'liar loans' - even the MSM are beginning to get it!

This has been picked up in main broadsheets now - who are reporting it as a blow to Georgie boys plans. Could it be anything to do with the fact that they forgot to mention to Budd that they were going to cut the schools capital expenditure? After they said that they wouldn't cut capital projects. You just get the impression at the moment that they're just making it up as they go along. What credibility will the OBR have now? The trouble is all of these organisations are subject to political bias under which ever Govn is in power. But I just can't see how they can get a growth figure or falling unemployment while they are going around slashing major budgets. All we hear is cuts, cuts cuts - but where is the growth coming from. An impossible task for the forecasters in my mind! Great new words going around - Slashophilia and slashoholic! Guess who?

Maybe he's to become the new 'Work til you Drop' poster boy!!

Sir Alan Budd who heads up the Office of Budget Responsibilty is set to quit. http://www.guardian.co.uk/business/2010/jul/06/alan-budd-quits-government-spending-watchdog The OBR which is meant to give impartial figues for the economy is under pressure already. Why has he quit? We don't know but looks like George and Dave were leaning on him for being too honest. This an interesting story as the OBR is a the heart of the new Tory machine. I sense a scandal brewing over this.

Mr Smith said the fall was in response to "the Government's austere emergency Budget, with concern expressed that the fiscal tightening could push the country back into recession". Now that we begin to see the real intentions of the Tories - people are beginning to realise what it actually means for them. The Govn just announced they were cutting £5bn of capital spending by axeing the schools programme - thats a huge amount of work for the building firms. But hardly a thing in the MSM about this. Typically not a word in the Daily Mail - staggering. Many of these projects are in the £20-30m range - so a years work for what 50 blokes? Thats a huge loss for some firms. Plus I notice somewhere that the service firms that work for the public sector - like Connaught - are downgrading their forecasts and issueing profit warnings. There a lot of private sector firms that rely on publuc sector spending - if that all goes then we will go into double dip for sure. A lot of MDs scratching thier heads today! Where else will they get work from. The way things are going - it seems that the cure will be worse than the disease!

You're fired!

Good article RB. This should add to the debate - it was property speculation wot did it!! http://www.guardian.co.uk/business/2010/jul/05/government-borrowing-public-sector-cuts MSM catching up at last. Wonder how this will go down in the Treasury this morning - oh sorry they only read the Daily Mail

150bn x 3% = 4.5bn 1400bn x 1% = 14bn Profit = 9.5bn Simples!

I thought Georges first effort was excellent - C+ at least. Could do with doing a bit more homework and not playing so many silly wall games. Hope he carries on the good work in October - maybe he can dig an even bigger hole for himself and his chum, Dave! Off for my hols now - toddle pip old boy! Will be interesting to see how these free marketeers manage another banking crisis - presumably they'll just let them go bust! That'll sort things out!

Ummm - shoe soup. I love shoe soup! This is what I was reading - that prompted question! http://www.dailymail.co.uk/news/article-1290616/Billions-wiped-British-shares-FTSE-plunges-3-shaky-recovery.html