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| https://surplusenergyeconomics.files.wordpress.com/2018/05/tpsi_009_perfect_storm_0093.pdf |
The BOE rate rise yesterday is Significant I think, Carney I think has been an appalling Governor and his misstatements have been political wishful thinking lacking objective rigor in my opinion particularly on Brexit.
A friend sent me this article today.
MTF
Attachments11:49 PM (9 hours ago)
to me
https://www.theguardian.com/business/2018/aug/02/countrywide-shares-plunge-70-after-emergency-cash-call
A friend sent me this article today.
MTF
Attachments11:49 PM (9 hours ago)
to me
https://www.theguardian.com/business/2018/aug/02/countrywide-shares-plunge-70-after-emergency-cash-call
Housing market wobbles
Roger Lewis
Attachments9:05 AM (10 minutes ago)
to MTF
The executive chairman, Peter Long, blamed the company’s woes on the “completely wrong” strategy pursued by the former chief executive Alison Platt, who resigned in January.
Roger Lewis
Attachments9:05 AM (10 minutes ago)
to MTF
The executive chairman, Peter Long, blamed the company’s woes on the “completely wrong” strategy pursued by the former chief executive Alison Platt, who resigned in January.
Platt sought to run the estate agent like a retailer, bringing its sales and lettings businesses together and concentrating expertise centrally with local branches functioning like shops, a plan that triggered an exodus of middle management.
“It completely destroys the business model by saying it’s a retailer and saying we don’t need management expertise locally,” said Long. “You disempower people, demotivate them and lose key expertise.”
He said high debt, racked up during an acquisition spree in 2014 and 2015, was “compounded by the perfect storm of a chief executive getting the strategy completely wrong”.
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Long doubled his salary to £360,000 when he took over the day-to-day running of the business from Platt, adding the role to his vice-chairman’s seat at travel group Tui and the chairmanship of Royal Mail.
Long doubled his salary to £360,000 when he took over the day-to-day running of the business from Platt, adding the role to his vice-chairman’s seat at travel group Tui and the chairmanship of Royal Mail.
But he insisted he was not overburdened, despite also dealing with the fallout from last month’s pay revolt at Royal Mail, one of the largest shareholder rebellions in corporate history.
He said Countrywide’s performance was improving, vowing that a turnaround plan could result in the company making an £80m underlying profit within three years.
Blimey, this bloke has got more front than Selfridges Mike. The Retailer Strategy is clearly a way of squeezing wages and overburdening tick box valuers in centralised pools with little experience of Local Market nuances and idiosyncrasies.
That activity is down 22% what does that mean for prices? have they also plummeted or are said Centralised Valuers presently still holding the line and pretending that overblown assets values are sensible.
How much debt is secured on Hypothecated London Real estate world Wide? that could see some pretty serious knock-on effects especially in pricing counterparty risks in the new iterations of CDF’s and ETF’s and Syndicated Debt Book exotics.
That activity is down 22% what does that mean for prices? have they also plummeted or are said Centralised Valuers presently still holding the line and pretending that overblown assets values are sensible.
How much debt is secured on Hypothecated London Real estate world Wide? that could see some pretty serious knock-on effects especially in pricing counterparty risks in the new iterations of CDF’s and ETF’s and Syndicated Debt Book exotics.
Perhaps the rise in BOE base rate yesterday was the Tallyho into oblivion that has been on the cards for so long Mike. Tim Morgan has stated he thinks the Autumn will bring the Grim Reaper to call in the debts of the party stragglers.
Where are the Exits and Who has discretely exited, I think a peek at Executive options cash-ins and Stock sales might reveal some interesting contradictions, not least with this Long fellow.
On 02/08/2018 7:17 PM, Roger Lewis wrote:
BOE Raised Rates today, if the fed does same that could start the serious rot, How stretched people are seems lost on the PTB
BOE Raised Rates today, if the fed does same that could start the serious rot, How stretched people are seems lost on the PTB
On Thu, Aug 2, 2018 at 8:13 PM, MTF wrote:
https://www.zerohedge.com/news/2018-08-02/why-japan-may-spark-next-crisis
https://www.zerohedge.com/news/2018-08-02/why-japan-may-spark-next-crisis
Japan..3rd biggest world economy…owns 40% of listed companies…only buyer of govt debt..debt to gdp 224% (>Greece)..annual interest bill 24% of govt revenues.
Gotta be something wrong there…when it blows there will be a big bang all over the world.
In 07/08 it was said that it was BNP Paribas closing a fund for redemptions that started the market rethink & then a crack in confidence & then calamity.
Is this a similar event?
I guess I may sound like a Daily Mail reporter.
Roger Lewis
Attachments8:53 AM (18 minutes ago)
to MTF
Its a small step in logic from Markets are Built on Confidence to Markets are a Confidence Trick, Mike. The Financialese these people resort to is one thing but this quote made me wince, “The board of directors and the management team are committed to considering all avenues to optimize shareholder value as we continue to build on the many achievements to date,” he said in a statement Thursday. Later in the article, it is said these people failed to beat the market for 5 years and trailed peers in 98th place out of one hundred, some achievement for a bunch of paper-pushing gamblers.
Attachments8:53 AM (18 minutes ago)
to MTF
Its a small step in logic from Markets are Built on Confidence to Markets are a Confidence Trick, Mike. The Financialese these people resort to is one thing but this quote made me wince, “The board of directors and the management team are committed to considering all avenues to optimize shareholder value as we continue to build on the many achievements to date,” he said in a statement Thursday. Later in the article, it is said these people failed to beat the market for 5 years and trailed peers in 98th place out of one hundred, some achievement for a bunch of paper-pushing gamblers.
Finally, the final line on the BBC website explaining what the Interest Rate rise means.
https://www.bbc.co.uk/news/business-45043776
the Bank published what it thinks is the natural interest rate for the UK economy.
the Bank published what it thinks is the natural interest rate for the UK economy.
It puts that at between 2% and 3%.
That relatively low rate is partly due to an ageing population.
Older people tend to save more and in the future, that will provide a greater pool of savings for lending to households and industry and help prevent the economy from overheating.
Roger Glyndwr Lewis
Roger Glyndwr Lewis
Roger Glyndwr Lewis added,
Patricia
Patricia
@PatriciaNPino
Bank’s don’t lend savings!!
Bank’s don’t lend savings!!
It’s difficult to overstate the level of incompetence required for @BBCNews economic commentators to say this. And these are the ppl who educate the public ffs. …
One has to ask if the BBC is content to regurgitate Banking as intermediary tripe when will it ever admit or even begin to understand the connection of surplus energy and Prosperity?
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| https://surplusenergyeconomics.files.wordpress.com/2018/05/tp0510_tpsi_report_005_lr1.pdf |
´´The aide said that guys like me were “in what we call the reality-based community,” which he defined as people who “believe that solutions emerge from your judicious study of discernible reality.” I nodded and murmured something about enlightenment principles and empiricism. He cut me off. “That’s not the way the world really works anymore.” He continued “We’re an empire now, and when we act, we create our own reality. And while you’re studying that reality—judiciously, as you will—we’ll act again, creating other new realities, which you can study too, and that’s how things will sort out. We’re history’s actors … and you, all of you, will be left to just study what we do.”
Suskind, Ron (2004-10-17). Faith, Certainty and the Presidency of George W. Bush. The New York Times Magazine.
https://en.wikipedia.org/wiki/Reality-based_community
https://en.wikipedia.org/wiki/Karl_Rove
JP MORGAN FOR ANALYSTS BULLSHIT///SHOULD READ “CUSP OF FINANCIAL CRISIS”
https://surplusenergyeconomics.wordpress.com/2019/09/02/155-the-art-of-dark-sky-thinking/comment-page-4/?unapproved=14883&moderation-hash=fd4a8466d6dc58a584abddcfe4aa6932#comment-14883
IS THIS A PROPER MANDATE FOR A CENTRAL BANK?
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