Is The Recession Affecting You?

[nevillew]

Yes I know, and that is after a minimum of 2 years service too and is age related rishing to 1.5 weeks for years over a certain age.  And yes it is capped.

I was referring to Jan's personal contractual circumstances, though I probably shouldn't but he has mentioned it on here. I would imagine there are ways to change a contract mind.

And again (discussing someone else's personal circumstances) that arrangement might be ok in the example of partial redundancies, but it won't be of help in the event of business failure as the government will only (eventually) stump up the statutory minimum

[BANGKOK RED]

I was in a meeting with a banker last week, this banker works for a South African bank called standard bank. It is unlikely that you have heard of them, I work for an offshore financial institution myself and I had never heard of them myself before.

Anyway it was only 18 months ago that they where barely in the top 500 of the worlds banks, yet as from last week they where placed 42nd, above banks such as Lloyds, Deutsche an others.

Standard bank was not exposed at all to toxic loans, in fact not so long ago they where slated by the financial 'guru's' for not being visionary enough, yet recently they have soared through the ranks.

They have not risen from 500th to 42nd (In about 6 months I think) because they have got bigger, in fact the banker told us that they have stayed still. The reason that they have risen so much is because the others have shrunk.

That's some scary shit.

[THE FLASH]

I was in a meeting with a banker last week, this banker works for a South African bank called standard bank. It is unlikely that you have heard of them, I work for an offshore financial institution myself and I had never heard of them myself before.

Anyway it was only 18 months ago that they where barely in the top 500 of the worlds banks, yet as from last week they where placed 42nd, above banks such as Lloyds, Deutsche an others.

Standard bank was not exposed at all to toxic loans, in fact not so long ago they where slated by the financial 'guru's' for not being visionary enough, yet recently they have soared through the ranks.

They have not risen from 500th to 42nd (In about 6 months I think) because they have got bigger, in fact the banker told us that they have stayed still. The reason that they have risen so much is because the others have shrunk.

That's some scary shit.

Like comparing Ian Huntley to the Moors Murderers...........All banks are cunts!! 

They have fucked it up through greed and reckless action and we are pissed over or bail them out.

[BANGKOK RED]

That all banks are cunts is not being questioned here 'The Flash'.

I am simply pointing out that a small bank has risen solely on the basis that about 458 of those above them have fallen very sharply in a very short time.

Which again, is some scary shit.

[Samdy Gray]

Standard Life have just deferred their property fund for 6 months, so I can see a whole shit-storm coming our way with people trying to switch funds and surrender plans. Halle-fucking-lujah. Not.

[stfctownenda]

I agree to an extent with Jan if there was more positivity it may actually benefit the market there is so much doom and gloom around that its damaging to companies.  Just look at Barclays last week rumours were flying around that they had toxic debts and there shares plummeted and then when they released an open letter stating that they needed no help from the government or elsewhere and were about to be announcing record profits there shares shot back up.

No doubt its looking bleak but all this doom mongering is getting everyone down, its time that governments came up with action plans and solutions and everyone starts to rebuild.  On a positive note Asda said they will continue there expansion in the UK creating 7000 jobs and Sky said they would be creating an extra 1000 jobs, there is the odd bit of positive news hiding out there.

[Ardiles]

Every day that passes is another day closer to the end of the recession, another day where imbalances are unwinding and banks are forced to come clean about the state of their balance sheets.

Robert Peston's piece this morning ends with the thought that - just maybe - the darkest hour is approaching.  Things will not turn overnight...but the surest sign that they are starting to turn is when the unrelenting bad news gives way to mainly bad news peppered with a little bit of good.  Hopefully, that isn't too far away.  There is certainly anecdotal evidence that the housing market is showing signs of stirring again (in terms of buyer interest, if not mortgage availability).  Fingers crossed.

Sooner or later the newspapers are going to realise that people like me have stopped buying.  After a year or more, the 'sensationalism' of doom & gloom is starting to wear a bit thin now.  If I wanted to self-inflict pain and depression, I'd start watching Oxford.

[THE FLASH]

That all banks are cunts is not being questioned here 'The Flash'.

I am simply pointing out that a small bank has risen solely on the basis that about 458 of those above them have fallen very sharply in a very short time.

Which again, is some scary shit.

Re read and agree..

[Simon Pieman]

Well my day just got a hell of a lot worse and due to the recession my company have decided not to fund the rest of my training. If I stay on with them I have to pay for it myself. Probably around £3k in 6 months.

Looks like this weekend will be spent weighing up my options. Sigh.

[axs]

That's a shitter Si. sorry to state the bleedin' obvious.

Does that mean you could walk without penalty if you could find another company willing to sponsor you?

[oxford_fan]

Every day that passes is another day closer to the end of the recession, another day where imbalances are unwinding and banks are forced to come clean about the state of their balance sheets.

If I wanted to self-inflict pain and depression, I'd start watching Oxford.

The way things are going at the moment, you would do better to stick with Swindon.

Word on the first bit though.

Walked through Zavvi with my Mum the other day and she said "ooh its sad isn't it, seeing a big shop going out of business", and I thought to myself "no, not at all."

Consumption and spending at every level of business and in people's lives is far too high. If firms have to go bust to correct it, so be it.

[Simon Pieman]

Yeah I asked them that and they said they would probably look to recoup a proportion of it as I have not had the full amount. If they ask me to pay it back I probably won't bother as I've heard head office don't chase it very well.

The main problem is the course I wanted to do starts in 2 weeks. I could defer it I guess, but if I can't find another firm it's going to cost me more as I'lll be missing out on pay rises.

[Dazzza]

That's a real fucker, is it not in their interest to get you qualified Si or have you fallen foul of a wider stretching company policy?

No chance of getting some sort of grant I take it?

[Simon Pieman]

I'm going to contact CABA tomorrow and may have some luck in the way of a grant/loan. Not going to hold my breath. Currently looking at what jobs are out there. I don't want to stay at my company anymore, but willing to stick it out for another 6 months if needs be (until I qualify).

I've fallen foul because I'm too risky based on a few failures (all resits were all funded out of my own pocket though I should add) and really they could have booted me out if they wanted. Bit of a bitch though, as I finally part-qualified last Friday and haven't failed in the last 6 months.

The thing that pissed me off is the people who made the decision didn't have the balls to tell me, I suppose that's hierarchy for you. I guess the main thing is I still have an income. Plenty more people out there who are worse off than me. Just not sure I can cope with £500 less disposable income a month. I'm not really on good money either.

[yeo]

I get the feeling that some companys are using the recession as an excuse to make cut backs for the sake of cut backs.