Are we in the middle of a financial meltdown?

[bluedave 2,498]

Just heard that Winalot has gone bust.

 

Apparently they've called in the official retrievers.

[parnell 58]

WHole thing is goin to the dogs...

[Maurik 2]

 

Just heard that Winalot has gone bust.

 

Apparently they've called in the official retrievers.

That is a terrible joke. I still laughed though :P

[HEM 10,000]

 

Bah, just found out that a close friend of mine who held a Very Prominent place at Goldman Sachs lost his job along with 10% of the workforce. ... So now he's seeking legal advice as GS want to give him some money and sign a form that he won't sue.

That happens not only in the UK & in other companies - has been happening annually with my employer & here we are again: this time 15-20% cuts announced "some time in next quarter" so in each country the "Sozialausgleich" wheels start turning again.

[gaberlunzi 814]

this for the turkey crowd to read tomorrow (others may look at it today)

 

http://www.financialsense.com/fsu/editoria.../2008/1030.html

[gaberlunzi 814]

 

I've heard legend of a company that would make performance reviews every year and automatically fire the bottom 10%, year in year out. It's a bit ruthless, but not a bad way of doing business - though it obviously wouldn't work here..

There is a furniture outfit which does that. Bottom salesman gets the slip. What I don't know is why anyone would work for them.

[chips 1]

 

this for the turkey crowd to read tomorrow (others may look at it today)

 

http://www.financialsense.com/fsu/editoria.../2008/1030.html

Banks have stopped lending gold to each other for the same reason they don't lend fiat money to each other - they're not entirely sure they'll get it back. Therefore the lease rates have gone up, which, while in the past may have been a good forward indicator of price, may not be in these interesting times. Comex seems out of whack but again that could be a special case: a paper unwind would temporarily drive prices below physical spot; not necessarily a suggestion that physical will rocket. Maybe.

[pike 323]

I could hardly believe my eyes when I saw this ... it's all hands on deck in the UK

 

 

Q. What do the stock exchange and your wife have in common?

A. When they go down you never hear the end of it.

[Johnny English 3,067]

 

What I don't know is why anyone would work for them.

Because you always assume you are not in the bottom 10% of anything?

[gaberlunzi 814]

More about US dollar bashing:

http://www.kitco.com/ind/willie/nov262008.html

[bucket06 54]

 

There is a furniture outfit which does that. Bottom salesman gets the slip. What I don't know is why anyone would work for them.

Many firms adopted this bullshit managerialism doctrine which comes from McKinsey & Company. The most notorious of which was ENRON. (great article if you have the time)

 

 

I could hardly believe my eyes when I saw this ... it's all hands on deck in the UK

Obviously bullshit. Surely she'd work for the Burger King...

[Bell the cat 428]

hehehe there used to be a gay disco in Edinburgh called "Burger Queen"

[RainKing 1,318]

 

RBS is a huge bank , operating in a large number of markets and countries, there is no way it can be allowed to go under.

I guess so. With 20 billion pounds of public money to underwrite its failed re-capitalisation, it's now 60% government owned. Ouch. Of course, making nationalised industries profitable again is something Britain excels at, so no fears there.

[gaberlunzi 814]

If finance turns you on and you are bored, here is plenty to keep your brains going

 

http://theautomaticearth.blogspot.com/

 

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