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ralphmalph

Property Developer Lashes Out At Lloyds

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http://ftalphaville.ft.com/blog/2010/09/23/351301/the-legacy-of-fat-bloke-finance/

Cant pay the interest yet is still signing up new property development deals.

We are not bust we have robust growth in sales, just not enough to pay the interest on the loan.

Nasty Lloyds valued our assets at a few million whereas everybody knows property only ever goes up and they are really worth loads of squllions.

Every time it is the same old sad story from bust property developers.

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The bank is your company's sleeping partner. If he gets cold feet, then he can pull out. This is how you should treat the bank, from day one.

Edited by Money Spinner

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Plenty of people whinge about the supposed 'entightlement' culture of those on benefits.

These pretend entrepreneurs are worse. They want everything fixed in their favour so that they can profit from their own claimed initiative and enterprise. This guy got his forecasts wrong and got stuffed.

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The situation is not helped by the fact that Lloyds took out a hedge facility – in effect, a spread bet – against interest rates going up and that bet has gone wrong, but they didn’t cancel it in time, despite the government making it clear that low interest rates are here to stay for some time.

Gone wrong, or about to go wrong ? What does he mean by it ?

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I think that Shelter have their offices in Centre Point. If that's true then it's certainly an irony.

Shelter, who campaign for the homeless, could have to campaign for their Landlord. !!

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I think that Shelter have their offices in Centre Point. If that's true then it's certainly an irony.

Shelter, who campaign for the homeless, could have to campaign for their Landlord. !!

Is it not an expensive rental for a charity surely?

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Is it not an expensive rental for a charity surely?

Campbell Robb: Shelter Chief Exec.

Campbell Robb is an unlikely matchmaker. But when Tony Blair fell in love with the third sector in 2006, it was Robb – a New Labour insider who was director of public policy at the National Council for Voluntary Organisations (NCVO) – who the then prime minister called upon to make sure that the romance between charities and the government would blossom.

Four years on, just how big the love-in between this government and the voluntary sector was can be measured by the £12bn of taxpayers' money now spent by charities. In 2008 – the year Robb became director general of the newly-established Office of the Third Sector (OTS) – the ardour was obvious: for the first time, more than half of charitable income was "earned" from government contracts.

Campbell-Robb-001.jpg

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“The first thing to say is that the negotiations between the parent company and Lloyds Bank do not involve or affect day-to-day operations of our businesses, which are performing extremely well despite the difficult conditions.

So they're on the verge of bankruptcy.

Almost every sentence in their statement reeks of desperation and bad business decisions and assumptions.

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http://ftalphaville.ft.com/blog/2010/09/23/351301/the-legacy-of-fat-bloke-finance/

Cant pay the interest yet is still signing up new property development deals.

We are not bust we have robust growth in sales, just not enough to pay the interest on the loan.

Nasty Lloyds valued our assets at a few million whereas everybody knows property only ever goes up and they are really worth loads of squllions.

Every time it is the same old sad story from bust property developers.

...this is the problem for banks and lending...too many nutters think they are businessmen ....the banks didn't help themselves by lending to every corpse mouthing 'mortgage' ....time to get real ....you don't lend to every business..... :rolleyes:

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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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