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eric pebble

Telegraph: Phil Spencer: From Boom To Bust

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Phil Spencer: from boom to bust

"For the past 18 months, Phil Spencer's life has had all the drama, jeopardy and upset of an episode of Location, Location, Location – without the happy ending. The television presenter's home finding business, Garrington, went into administration early this year. "It was very scary," he says. "The company was based on giving people advice on buying property and when no one was buying, we didn't have any business."

How could Spencer – the property guru who helps first-time buyers find their dream homes on Location, Location, Location and Relocation, Relocation – have got it so wrong?

"We'd done good business in the first half of the year, then summer was quiet but we had enough buyers on our books to tough it out. We thought things could improve," he admits."

""Northern Rock hadn't gone down when we started, but by the time we'd finished there was a lack of liquidity. You see it happening across the series and we filmed individual packages more recently to explain what happened. Prices are bound to be different from today's market but I'm sure those watching will appreciate that price is irrelevant, it's the process." :wacko::wacko::wacko:

:lol::P Wadda PRAT! :P

http://www.telegraph.co.uk/property/proper...om-to-bust.html

Edited by eric pebble

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Beeny. Renames her show property snakes and ladders and gets on with it. Her show always made noises about "the rising housing market", as if there could be another mode to house prices.

As for Krusty and Phil, what a pair of numpties.

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... "The company was based on giving people advice on buying property ....

I would have thought - "don't touch it with a bargepole the whole thing will go down like a park of cards and you will look like a complete tw@t" is a bit of advice many people would have paid good money for.

Clearly the issue was simply bad advice?

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As for Krusty and Phil, what a pair of numpties.

My letter - posted on this site - http://www.channel4.com/4homes/on-tv/reloc...-06-24_p_1.html - where Spencer's failure as a "property expert" is conveniently ignored.... :angry:

---------------

"Sorry - but I thought Mr Spencer's company had gone bust?!? He and Miss Alsop have done nothing except ramp property prices and made peoples' lives a misery. It's a disgrace that you don't make it clear that this man's property business FAILED."

----------------------------

Needless to say -- that comment/email/letter won't be published on that site..... :rolleyes:

Edited by eric pebble

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Just goes to show in a rapidly rising market with cheap and easy credit any f*cking idiot can make money.

Take it away and these HPI cheerleaders are exposed as the clueless chancers that they are.

edit: "swearing"

Edited by dolce vita

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They always seemed like the worlds worst negotiators - usually conversations went like this:

PHIL: So you've looked around three houses, which one have you decided to go for?

SUCKERS: Well we really like the cottage in Aylesbury. So we'd like to put in an offer at £15,000 below asking price.

PHIL: OK I'll ring the agent.

Phil picks up mobile and rings the agent

PHIL: Hi Steve, I'm with the couple now and they love the property and are really, really desperate to buy it and would chew off their arms and legs to have it........but they want to offer below asking price.

Here's a tip Phil - sometimes indifference can be the greatest tool in the negotiators box!

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I always quite liked Phil, it's a pity his firm couldn't have made it through til this Christmas because I'm pretty sure a new wave of city bonuses would have got the house search industry going again.

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My letter - posted on this site - http://www.channel4.com/4homes/on-tv/reloc...-06-24_p_1.html - where Spencer's failure as a "property expert" is conveniently ignored.... :angry:

---------------

"Sorry - but I thought Mr Spencer's company had gone bust?!? He and Miss Alsop have done nothing except ramp property prices and made peoples' lives a misery. It's a disgrace that you don't make it clear that this man's property business FAILED."

----------------------------

Needless to say -- that comment/email/letter won't be published on that site..... :rolleyes:

Amongst their rampathons, Channel Whore and the Beeble have proved relentlessly, that they are out of control, morally insane and defacto, above the law of the regulators.

:angry:

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"It would have been nice to see it coming, but it happened so quickly it caught everyone by surprise – the chancellor of the exchequer, all of the banks, they didn't see it coming. No one saw it. It was a very painful time. I had a team of people who worked for me and I was responsible for them, to keep them employed."

No one saw it coming eh?

VMR.

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Get down the dole debtors prison you p1sh taking twit. And take Kirsty and her fiendish disguise with you.

fixed.

edit - strike-through broken.

Edited by Sceptacled Bear

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Poor chap's very much in debt since the collapse of his company last year...awwwww

http://www.guardian.co.uk/lifeandstyle/200...pencer-location

To be fair to the guy he is being alot more honest about things than his co-presenter could ever be.

His comment about no one seeing it coming is debateable. Plenty of people could see how unsustainable the whole thing was, the problem was that so long as everyone was making money no one wanted to listen to the 'doom mongers'.

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Guest X-QUORK

After all that, the humiliating loss of his company, the guilt of letting his staff go, the financial losses...he still has the gall to call the bottom for London.

Words fail me.

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After all that, the humiliating loss of his company, the guilt of letting his staff go, the financial losses...he still has the gall to call the bottom for London.

Words fail me.

He's living the nightmare but can't let go of the dream. A serious amount of conditioning went into making him that way.

(The Dutch still like tulips) ;)

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He comes across as reasonably chastened if still self-deluding and failing to understand that property markets do not only ever go up.

London has bottomed eh?

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He comes across as reasonably chastened if still self-deluding and failing to understand that property markets do not only ever go up.

London has bottomed eh?

London is a bottom, one great big festering @rse

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"It would have been nice to see it coming, but it happened so quickly it caught everyone by surprise – the chancellor of the exchequer, all of the banks, they didn't see it coming. No one saw it. It was a very painful time. I had a team of people who worked for me and I was responsible for them, to keep them employed."

No one saw it coming eh?

VMR.

Incredible isn't it. Not only did the likes of Phil and Krusty know it was coming, they chose to ignore the warnings and argue against those who had told them it was coming.

It's worth rembering today after the shitty QE boom continued apace;

- Ahuja has the bailiffs knocking on his door

- Inside track have gone bust

- Bovey and Turner have gone bust

- Phil Spencer has gone bust

All the BTL/Boom pinup boys and gals have been exposed as frauds and incompetents, who spent years telling us how wrong we were.

I'm looking in your direction Fergus and Judith. :ph34r:

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London is a bottom, one great big festering @rse

And just like bottoms, plenty of .... comes out of it.

Cor blimey guv`na, you caaaaan`t say that, can ya ?

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"It would have been nice to see it coming, but it happened so quickly it caught everyone by surprise – the chancellor of the exchequer, all of the banks, they didn't see it coming. No one saw it. It was a very painful time. I had a team of people who worked for me and I was responsible for them, to keep them employed."

No one saw it coming eh?

VMR.

What he really means is that no one important enough or worth listening too saw it coming, especially if you put your fingers in your ears and went la la la loud enough every time some depressing person talked negatively about the economy.

If we just listened to all the nice positive people then he's telling the truth no one saw it coming.

Although I think many bankers did see it coming but they knew the la la la's where in charge and therefore there was no point in talking about it.

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He should look on the bright side. He doesn't look as if someone has smeared fecal matter above his top lip.

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