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One For The Bulls - House Prices To Rise In Coventry

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CovPress announce 300 job losses June 12th 2009

HUNDREDS of workers at Coventry firm CovPress fear for their future after being laid off.

More than 300 members of staff arrived at CovPress on Tuesday, only to be sent home.

The ailing firm in Burnsall Road, Canley, has been struggling with the downturn since October last year, and for months staff have been working reduced hours.

But this week, industrial action at a French firm led to even more unrest for the once leading supplier to some of the world’s largest automotive companies.

Until recently, the Canley-based company had temporary work with Nissan in Barcelona.

But Nissan has cancelled the contract because of a strike by a French supplier which was also working on the project.

A worker at the firm, who wishes to remain anonymous, said: “The other contract we have is another temporary one with Vauxhall, who are also on short-time now and that contract is due to end very soon.

“When we arrived at work on Tuesday, we were told that we were being laid off until further notice.

"To be honest it didn’t come as a surprise because we have been working reduced hours for some time now.

“There are more than 300 workers at CovPress and the majority have big mortgages and bills to pay. This situation cannot continue.

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See I told you idiot bears that Gordon had saved the world. This can only have a positive effect on house prices. Just you watch, in a few months time we will be back in positive HPI territory again. The banks will be rolling over themselves to lend 125% mortgages again. Debt is wealth! ;)

http://www.coventrytelegraph.net/news/cove...92746-23850155/

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You bears just won't accept the facts will you! News such as this can only be good for the housing market! I wish my mate Sibley was here to back me up.

Debt is wealth! House prices only ever go up! They aint building any more land! Only flats will lose value! Come on Rinoa and Hamish, I thought we all agreed to post together....

WIBBLE!!! WIBBLE!!! Green shoots ...... WIBBLE!!!

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Is it really necessary to report the loss of livelihood of 300 people with such a sense of glee?

Edited by bb7t6

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I have just read the post propertly and have decided to remove my silly comments.

I take no joy in the misery of others. None at all.

Edited by debt-free

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I have just read the post propertly and have decided to remove my silly comments.

I take no joy in the misery of others. None at all.

Us bears are so to be in the land of milk and honey... happy days!

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I have just read the post propertly and have decided to remove my silly comments.

I take no joy in the misery of others. None at all.

You are quite right.

Of course, if we hadn't gone on a borrowing spree in the first place these people would not be losing their jobs at all.

It's terrible what loose credit and speculative greed can achieve.

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I have just read the post propertly and have decided to remove my silly comments.

I take no joy in the misery of others. None at all.

Neither do I - I'm just pointing out the stupidity of my fellow bulls when they claim there is going to be a recovereh!

WIBBLE ......................... Green Shoots ....................... WIBBLE ......................... etc......

Edited by Boommonkey

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Neither do I - I'm just pointing out the stupidity of my fellow bulls when they claim there is going to be a recovereh!

WIBBLE ......................... Green Shoots ....................... WIBBLE ......................... etc......

whatever, it might have been less distasteful (to the average decent human being) if you hadn't illustrated your subject with a laughing smiley.

you've made yourself look a t1t

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whatever, it might have been less distasteful (to the average decent human being) if you hadn't illustrated your subject with a laughing smiley.

you've made yourself look a t1t

To be fair, I think he was laughing at the bullish claims of recovereh.. not the poor sods who have lost their jobs.

Sorry if you've lost yours, lots of people will be effected by this :(

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whatever, it might have been less distasteful (to the average decent human being) if you hadn't illustrated your subject with a laughing smiley.

you've made yourself look a t1t

Alright mate, do you know where Sibbers and Hamish are? They were supposed to be logging on about now.

WIBBLE....

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whatever, it might have been less distasteful (to the average decent human being) if you hadn't illustrated your subject with a laughing smiley.

you've made yourself look a t1t

+1

You don't understand only by having enough people suffer unemployment and repossessions and economic misery can the vested interest on here get the house at the price they want to pay.

Hence the laughing at bad news and gnashing of teeth at any sign of recovery.

Vultures hoping for enough financial car crashes, so they can pick over the bones that's what you have on here.

Edited by Flash Gordon

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+1

You don't understand only by having enough people suffer unemployment and repossessions and economic misery can the vested interest on here get the house at the price they want to pay.

Hence the laughing at bad news and gnashing of teeth at any sign of recovery.

Vultures hoping for enough financial car crashes, so they can pick over the bones that's what you have on here.

You were supposed to log on at 6pm - that was the agreement! It was quite busy at work today (Bairstow Eves). How are things at Connells? Hope you are managing to find plenty of suckers to buy this dead cat bounce. I was playing solitaire and *****ing off for most of the day. Still Dave's got a brand new hair-do (nuff gel!) ;)

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I'm still wondering how there can be a recovery while horrific net job loss is continuing.

We're on pace to lose about 5% of the jobs in the country this year.

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I'm still wondering how there can be a recovery while horrific net job loss is continuing.

We're on pace to lose about 5% of the jobs in the country this year.

There can't.

Not yet, anyway.

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It is very sad news for the area and for the poor souls who will be cast to the four winds. Those who have never faced a redundancy closure will never understand the misery and loss felt by those people who lose their jobs, friends and careers.

As was pointed out last night on QT, the Government have been too late in doing anything to help industry and even when they have it has been no more than platitudes, with real action and money never materialising.

My best wishes go out to these and the other people made redundant because of the inept governance of the economy in its most general sense, a very poor Government who only helps itself (personally at times) and the greed of bankers and estate agents / mortgage providers.

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I'm still wondering how there can be a recovery while horrific net job loss is continuing.

We're on pace to lose about 5% of the jobs in the country this year.

  • Unemployment is a lagging indicator

  • In times of growth where GDP growth is less than productivity growth all other things being equal will result in rising unemployment.

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  • Unemployment is a lagging indicator

  • In times of growth where GDP growth is less than productivity growth all other things being equal will result in rising unemployment.

So, by lagging indicator, you mean house prices usually drop first.. followed by higher unemployment (as opposed to the other way around)?

Can you point to a historical example of this?

You don't understand only by having enough people suffer unemployment and repossessions and economic misery can the vested interest on here get the house at the price they want to pay.

Hence the laughing at bad news and gnashing of teeth at any sign of recovery.

Vultures hoping for enough financial car crashes, so they can pick over the bones that's what you have on here.

Sorry you feel like that. If you had been here in 2005 you would have seen people calling for an end to the boom for exactly the reason of trying to avoid all this mess.

Where were you then?

Edited by libspero

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  • Unemployment is a lagging indicator
I think on the current scale of job loss it becomes a factor itself in gdp growth.

In times of growth where GDP growth is less than productivity growth all other things being equal will result in rising unemployment.

Good point.

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+1

You don't understand only by having enough people suffer unemployment and repossessions and economic misery can the vested interest on here get the house at the price they want to pay.

Hence the laughing at bad news and gnashing of teeth at any sign of recovery.

Vultures hoping for enough financial car crashes, so they can pick over the bones that's what you have on here.

Too true.

HPC gang is so desparate for massing repos, economic hardship for millions, so that they can make a killing (especially those with STR fund), and boast on here how "worthy" they are.

Worse, most try to preach how immoral HPI is whilst having profited all the same from it.

If anything it appears it is not going quite according to plan for them.

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Too true.

HPC gang is so desparate for massing repos, economic hardship for millions, so that they can make a killing (especially those with STR fund), and boast on here how "worthy" they are.

Worse, most try to preach how immoral HPI is whilst having profited all the same from it.

If anything it appears it is not going quite according to plan for them.

I am trying to make money out of something I did not ask for nor cannot stop which ultimately will have the effect of making housing affordable again at the expense of my parents; I can look after them until they die if needs be.

You are trying to make money out of something you always wanted and cheer for which will have the ultimate effect of meaning that my 2 year old son is screwed on taxes and may never be able to afford a home of his own. I cannot do anything for him after I die, and he will get IHT at 40%.

Of course, the market will always out so I am not too worried about my son not being able to afford a place in 20 odd years' time. ;)

Edited by kilroy

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Too true.

HPC gang is so desparate for massing repos, economic hardship for millions, so that they can make a killing (especially those with STR fund), and boast on here how "worthy" they are.

Speak for yourself. If anything most of us had been warning about the likely effects of loose fiscal policy for years, you don't seem to be able to comprehend that this whole thing was avoidable.

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Too true.

HPC gang is so desparate for massing repos, economic hardship for millions, so that they can make a killing (especially those with STR fund), and boast on here how "worthy" they are.

Worse, most try to preach how immoral HPI is whilst having profited all the same from it.

If anything it appears it is not going quite according to plan for them.

Hey Val, where were you at the agreed time? Still better late than never - we can start trolling this awful website now. I just wish Sibbers was here as well, he never normally lets us down!

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I am trying to make money out of something I did not ask for nor cannot stop which ultimately will have the effect of making housing affordable again at the expense of my parents; I can look after them until they die if needs be.

You are trying to make money out of something you always wanted and cheer for which will have the ultimate effect of meaning that my 2 year old son is screwed on taxes and may never be able to afford a home of his own. I cannot do anything for him after I die, and he will get IHT at 40%.

Of course, the market will always out so I am not too worried about my son not being able to afford a place in 20 odd years' time. ;)

Nothing in life is guaranteed, a job, health, love or happiness, the longer we live through it the wiser we get to be, shit is thrown at us all from all angles...deal with it or get buried under it...my children may never afford a home, when I asked them they said they don't need to buy and have no intention to buy...good on you I said there is more to life than bricks and mortar. ;)

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Is it really necessary to report the loss of livelihood of 300 people with such a sense of glee?

A bear sees that as cheaper housing. The faster the sky falls the better.

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I am trying to make money out of something I did not ask for nor cannot stop which ultimately will have the effect of making housing affordable again at the expense of my parents; I can look after them until they die if needs be.

It seems wildly hypocritical how bulls labelled the priced out generation as pathetic losers while cheap credit fuelled one of the biggest housing booms in history.

Now those same people are apparently malicious vultures intent on taking advantage of poor unfortunate bulls :rolleyes:

Edited by libspero

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