porca misèria Posted June 8, 2009 Share Posted June 8, 2009 Weststar has set a new precedent in British business. The usual behaviour for a company offered taxpayer bailouts to take over a moribund motor manufacturer is to take the money, cream it for a couple of years while keeping the company going, then (inevitably) go bust so government gets to pay bailout money to the next recipient. Repeat ad infinitem. Weststar has broken out of that business model. Or declined to take a turn at the money-trough. Is this down to its Malaysian (Islamic) roots? Could it be that they, unlike modern western (or western-inspired) businesses, have problems with that business model? Quote Link to comment Share on other sites More sharing options...
The Ayatollah Buggeri Posted June 8, 2009 Share Posted June 8, 2009 Whereas Islamic criminal law (executing people for sex outside marriage etc.) is something I find absolutely abhorrent, I think that Islamic business ethics might just have something to teach us. One of its core principles is, as Olivier Roy put it, that each and every financial transaction should be analysed for its morals. Basically, is one side being unfairly treated? This is why Muslims reject the idea of interest payments. They believe that gaining the money to pay interest to a third party investor and still keep yourself afloat can only be achieved by behaving dishonestly to someone at the other end of the chain. I'm not saying that I totally agree with this, only that it addresses a lot of questions raised by the near-failure of the banking system in the last 18 months or so. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted June 8, 2009 Share Posted June 8, 2009 (edited) My guess, if they are involved at all later on (and haven't simply gone completely cold on the idea) is they will do a Rover on it. Pull out at the last minute, let the company fail, then buy the bits from administration and ship the company lock stock and barrel abroad. You could even call the pre-admin period a sort of filibustering where their involvement puts off the involvement of others and ensures this plan has a greater likelihood of success. Edited June 8, 2009 by OnlyMe Quote Link to comment Share on other sites More sharing options...
Justice Posted June 8, 2009 Share Posted June 8, 2009 Yes i agree islamic banking is where it's at if you live in Leicester, Bradford well just about anywhere nowadays. Hala meat is also a good one as kids at normal schools are now being served the stuff without asking parents so maybe the kids should be taught how to slit throats so it does not hurt the animal whilst giving the animal a chance to escape by only tieing 3 legs, not four up. next they will be removing bog paper from the tolets in cas it offends like bibles from hospitals. When the banks go bust like the BCCI then you can play the race card as savers and demand payment in full else the govermemt is being racist because thats what happened. only little problom you may get along the way is you might run smack into a balkan style war but hey go for it. Quote Link to comment Share on other sites More sharing options...
JJJ Posted June 8, 2009 Share Posted June 8, 2009 (edited) Halal meat is also a good one as kids at normal schools are now being served the stuff without asking parents Why would they need parental approval to serve halal meat? As an aside, Bibles in hospitals offend me. Bibles anywhere, really. Edited June 8, 2009 by JJJ Quote Link to comment Share on other sites More sharing options...
Arnold J Renter Posted June 8, 2009 Share Posted June 8, 2009 Why would they need parental approval to serve halal meat? Perhaps some parents don't like the idea of their kids eating animals slaughtered in a manner that puts religious ritual above animal welfare? Quote Link to comment Share on other sites More sharing options...
JJJ Posted June 8, 2009 Share Posted June 8, 2009 I wish I could agree, but I find myself thinking it more likely that people don't care where the food comes from. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted June 8, 2009 Share Posted June 8, 2009 One of its core principles is, as Olivier Roy put it, that each and every financial transaction should be analysed for its morals. Basically, is one side being unfairly treated? This is why Muslims reject the idea of interest payments. Yeah right So that's why Abu Dhabi and Qatar screwed 14% interest rates out of the $12b they lent to Barclays. Quote Link to comment Share on other sites More sharing options...
Guest tbatst2000 Posted June 8, 2009 Share Posted June 8, 2009 Weststar has set a new precedent in British business.The usual behaviour for a company offered taxpayer bailouts to take over a moribund motor manufacturer is to take the money, cream it for a couple of years while keeping the company going, then (inevitably) go bust so government gets to pay bailout money to the next recipient. Repeat ad infinitem. Weststar has broken out of that business model. Or declined to take a turn at the money-trough. Is this down to its Malaysian (Islamic) roots? Could it be that they, unlike modern western (or western-inspired) businesses, have problems with that business model? No comment on Islamic business practice in general (since I'm mostly ignorant of it) but I think you'll find that this deal fell through because they couldn't raise the money to make it happen, nothing more complex. Quote Link to comment Share on other sites More sharing options...
Super Mario Posted June 8, 2009 Share Posted June 8, 2009 This is why Muslims reject the idea of interest payments. This statement is just wrong. Quote Link to comment Share on other sites More sharing options...
SNACR Posted June 8, 2009 Share Posted June 8, 2009 When it comes down to nuts and bolts, all three abrahamic religions reject usury. There's just shades. Islam reject it most strongly, followed by christianity and then judaism. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted June 8, 2009 Author Share Posted June 8, 2009 No comment on Islamic business practice in general (since I'm mostly ignorant of it) but I think you'll find that this deal fell through because they couldn't raise the money to make it happen, nothing more complex. Yeah, sounds plausible to me. But why spoil a good story? Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted June 8, 2009 Share Posted June 8, 2009 When it comes down to nuts and bolts, all three abrahamic religions reject usury. There's just shades. Islam reject it most strongly, followed by christianity and then judaism. They all have caveats of course, i.e. you can practice usury on the other abrahamic branches but not on your own kind. In the modern world it's a hypocritical mess, Islam still has mechanisms that function as interest and are as economically unsustainable as any other system, yet it's worded differently as to appease the conscience. Quote Link to comment Share on other sites More sharing options...
Super Mario Posted June 8, 2009 Share Posted June 8, 2009 They all have caveats of course, i.e. you can practice usury on the other abrahamic branches but not on your own kind.In the modern world it's a hypocritical mess, Islam still has mechanisms that function as interest and are as economically unsustainable as any other system, yet it's worded differently as to appease the conscience. Islamic banking is done using asset-proxies ("interest" is forbidden, but trading for profit isn't - it really is a hypocritical mess). How it works: - Bank has an asset: - Bank lends asset to client - Client sells asset back to bank for X - Later on the client buys asset from bank for X + a bit (the bit = the banks interest) - Client then gives asset back to bank so all square. Quote Link to comment Share on other sites More sharing options...
athe Posted June 8, 2009 Share Posted June 8, 2009 Why would they need parental approval to serve halal meat?As an aside, Bibles in hospitals offend me. Bibles anywhere, really. Same reason they should ask me before they serve my kids communion wafer or matze - because Thor will strike them down if they dare. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted June 9, 2009 Share Posted June 9, 2009 Didn't take long...... http://business.timesonline.co.uk/tol/busi...icle6458810.ece LDV: Weststar in fresh talks with administrator despite failed rescue move British van maker LDV was placed under bankruptcy protection on Monday following the collapse of a rescue bid by a Malaysian company Administrators hoping to unlock the gates of the LDV factory in Birmingham are in talks with three possible owners Alexandra Frean Weststar, the Malaysian group that made a failed rescue bid for LDV, the vanmaker, last month, has emerged as one of three potential buyers of the Birmingham-based company, which was placed in administration yesterday. Quote Link to comment Share on other sites More sharing options...
Timm Posted June 9, 2009 Share Posted June 9, 2009 Weststar has set a new precedent in British business.The usual behaviour for a company offered taxpayer bailouts to take over a moribund motor manufacturer is to take the money, cream it for a couple of years while keeping the company going, then (inevitably) go bust so government gets to pay bailout money to the next recipient. Repeat ad infinitem. Weststar has broken out of that business model. Or declined to take a turn at the money-trough. Is this down to its Malaysian (Islamic) roots? Could it be that they, unlike modern western (or western-inspired) businesses, have problems with that business model? Whereas Islamic criminal law (executing people for sex outside marriage etc.) is something I find absolutely abhorrent, I think that Islamic business ethics might just have something to teach us.One of its core principles is, as Olivier Roy put it, that each and every financial transaction should be analysed for its morals. Basically, is one side being unfairly treated? This is why Muslims reject the idea of interest payments. They believe that gaining the money to pay interest to a third party investor and still keep yourself afloat can only be achieved by behaving dishonestly to someone at the other end of the chain. I'm not saying that I totally agree with this, only that it addresses a lot of questions raised by the near-failure of the banking system in the last 18 months or so. I agree with the sentiments in this post but... Do you actually know any Muslims? Didn't take long......http://business.timesonline.co.uk/tol/busi...icle6458810.ece LDV: Weststar in fresh talks with administrator despite failed rescue move British van maker LDV was placed under bankruptcy protection on Monday following the collapse of a rescue bid by a Malaysian company Administrators hoping to unlock the gates of the LDV factory in Birmingham are in talks with three possible owners Alexandra Frean Weststar, the Malaysian group that made a failed rescue bid for LDV, the vanmaker, last month, has emerged as one of three potential buyers of the Birmingham-based company, which was placed in administration yesterday. Abandons post. Quote Link to comment Share on other sites More sharing options...
Gideon Gono Posted June 9, 2009 Share Posted June 9, 2009 Why would they need parental approval to serve halal meat?As an aside, Bibles in hospitals offend me. Bibles anywhere, really. The bible offends me too, but the quran offends me more. Quote Link to comment Share on other sites More sharing options...
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