SV650.org - SV650 & Gladius 650 Forum

SV650.org - SV650 & Gladius 650 Forum (http://forums.sv650.org/index.php)
-   Idle Banter (http://forums.sv650.org/forumdisplay.php?f=116)
-   -   I love the Credit Crunch (http://forums.sv650.org/showthread.php?t=119064)

Lou M 07-10-08 09:09 PM

I love the Credit Crunch
 
Now, don't get me wrong, I am worried about what's happening out there, but...

...I can now book a hotel last min in this country and get decent rooms!

Hurray, Mr Lou won't shout at me for leaving our weekend away till last min.
Anyone else found an upside to these hard times?

dizzyblonde 07-10-08 09:10 PM

Re: I love the Credit Crunch
 
errrrrrrrrrrr nope :-(

Biker_Billy 07-10-08 09:14 PM

Re: I love the Credit Crunch
 
Yep - we are waiting to buy - have a decent deposit, and prices are falling....

just need to wait for banks to start lending now!

Demonz 07-10-08 09:16 PM

Re: I love the Credit Crunch
 
You can get more Euro for your Pound. Well last 2 days. Shares are cheap too ;)

injury_ian 07-10-08 09:18 PM

Re: I love the Credit Crunch
 
loads of deals on motorbikes.... which one tho... hmmm

Ed 07-10-08 09:24 PM

Re: I love the Credit Crunch
 
If you believe what you read in the papers/news, you'd think that there were no property deals on at all at the moment.

If so, then why is Sarah - my conveyancing assistant - fully occupied with property deals? I think it's because we have never sought to fleece clients, we have alwys offerd a quality and value for money service, and clients remember that. Most of our property work is from existing clients or recommendations, and not through agents.

However there is another upside. People are wishing their hand back on contracts they entered, and I have an explosion of civil litigation work:D

chasey 07-10-08 09:26 PM

Re: I love the Credit Crunch
 
The company that I work for do better in times like this so I ain't complaining :D

nik_nunez 07-10-08 09:28 PM

Re: I love the Credit Crunch
 
personally its ok, at work its good, work for the post office and we are getting loads of people coming in to take out accounts .

p.s. if anyone gets anything from the post office let me know so you can use my branch code ;-)

Demonz 07-10-08 09:31 PM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by chasey (Post 1647327)
The company that I work for do better in times like this so I ain't complaining :D

Legal firm too then ;)

chasey 07-10-08 09:34 PM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by TuonoGrant (Post 1647338)
Legal firm too then ;)

Nope. http://www.belzona.com/

People repair instead of buying new :p

dizzyblonde 07-10-08 09:51 PM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Biker_Billy (Post 1647304)
Yep - we are waiting to buy - have a decent deposit, and prices are falling....

just need to wait for banks to start lending now!

we're a bit unsure. I have a small house with a not so large mortgage. Last year the mortgage was for just less than half of what my house was worth. Now I'm not sure of value, and if I could sell it with enough of a profit towards a larger house, and when the best time to take advantage of lowering prices would be, and if we could get a larger mortgage etc.
Its a wait and see...hold onto your seats

MR UKI (1) 07-10-08 09:58 PM

Re: I love the Credit Crunch
 
I hate it, work for a Building Society which is in the middle of a merger with the big Building Society :(

lily 07-10-08 10:09 PM

Re: I love the Credit Crunch
 
I don't like it!!!!!!!!!

Since Sunday I have been writing redundancy letters and comp agreements along with one of my bosses and my/her colleague. Everybody knows we are up to something. Nobody has spoken to me or my colleague since Friday we have been seen as the b!tch’s. We are constantly being looked at and spoke about and really my last two days at work have been hell.

Tomorrow everybody who is going will know including my best friend at work. Have known that she will not have a job within a couple of months and had to lie to her face when asked what was going on. I don’t want to go to work tomorrow but have to.

However the silver lining which is all that’s getting me there is that I am not losing my job and they are hoping to not have to get rid of any more staff but will be making no promises.

Paul the 6th 07-10-08 10:29 PM

Re: I love the Credit Crunch
 
im staying at the travel lodge in toxtteth (liverpool) tonight.

on the flip side, I'm in the process of buying a house which was £60k more expensive this time last year :)

Ed 07-10-08 10:39 PM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by lily (Post 1647395)
I don't like it!!!!!!!!!

Since Sunday I have been writing redundancy letters and comp agreements

ooh, compromise agreements. Means that a solicitor has to give independent legal advice to the hapless recipient. If you need my number...;)

Stu 07-10-08 11:23 PM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Paul the 6th (Post 1647417)
on the flip side, I'm in the process of buying a house which was £60k more expensive this time last year :)

& this time next yr will be worth another £60K less :???: Good luck :rolleyes:

In the morning I will be emptying the company's bank account before the bank goes bust. (unfortunately not into my a/c but into another company a/c with a different bank)

Lozzo 07-10-08 11:38 PM

Re: I love the Credit Crunch
 
My mate and I will probably be going into business soon as collection agents. He's done it before, and this means we'll be the ones knocking on doors asking for the keys to cars that haven't been paid for and shunting them to auction sites on behalf of finance companies. My mate has done this before, and when things picked up last time he went back to his normal job of arranging loans. He's ok whatever the situation, lend the money when times are good, repossess the stuff the loans bought when they're bad.

Hasn't done him any harm, he's 35 and owns a lovely house outright, drives a nice motor, owns a couple of bikes and has lots of spare cash in the bank.

neio79 08-10-08 06:36 AM

Re: I love the Credit Crunch
 
I love the credit crunch , in a resesion proof job. so other than a few price rises dont care too much.

Tara 08-10-08 07:13 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by lily (Post 1647395)
I don't like it!!!!!!!!!

Since Sunday I have been writing redundancy letters and comp agreements along with one of my bosses and my/her colleague. Everybody knows we are up to something. Nobody has spoken to me or my colleague since Friday we have been seen as the b!tch’s. We are constantly being looked at and spoke about and really my last two days at work have been hell.

Tomorrow everybody who is going will know including my best friend at work. Have known that she will not have a job within a couple of months and had to lie to her face when asked what was going on. I don’t want to go to work tomorrow but have to.

However the silver lining which is all that’s getting me there is that I am not losing my job and they are hoping to not have to get rid of any more staff but will be making no promises.

Lily do you work in HR?

me i hate it i work in construction albeit a big construction company but we are gonna lose 150 people in my region - since they installed oracle they have made our training dept redundant, also our submissions depart which leaves me and my team to do any submissions which isn't a hassle but its not good for them and also 2 of our regional offices are closing on top of the office that closed recently in bromborough.

on a personal level as we only bought our house last year we won't be able to afford to move until things improve drastically

not good at all

Viney 08-10-08 07:29 AM

Re: I love the Credit Crunch
 
No not really. Couldnt get a deal on our holiday and if RBS go pop we are up brown street!

keithd 08-10-08 07:33 AM

Re: I love the Credit Crunch
 
things are just starting to slow down in my industry, and we are in a potentially horrendous position. prices falling, hight priced stock and sales slowing. my colleague and i are trying to make our boss wake up and smell the coffee...

keithd 08-10-08 08:07 AM

Re: I love the Credit Crunch
 
oh and can the world please start calling it a recession not a credit crunch!

lily 08-10-08 08:10 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Tara (Post 1647525)
Lily do you work in HR?

yes..........well kind of.........its a bit confusing my job...........

i kind of float between company secretary work and HR work. Work for both the co sec. (and doing my training for that) and the HR manager (who also wants me to do my training for that) :rolleyes:

Ed- you never know if they take the argeement rather than fight it.

neio79 08-10-08 08:13 AM

Re: I love the Credit Crunch
 
I wonder how many of the people who have signed off in the Army are now trying to revoke that given the current situation outside??

I reckon being an undertaker will be good money soon :Dall those rich baby bankers topping themselves because their stocks and shares have been wiped out.

dizzyblonde 08-10-08 08:17 AM

Re: I love the Credit Crunch
 
according to the informative news, manufacturing isn't doing too well. i should imagine it slows down as much for huge companies as it does for the little ones. I would hope I'm reasonably safe working for a huge company, but if they have to make cut backs it will be more likely that mine and Im Indoors shifts will go first(weekends), even though ours are the most productive

G 08-10-08 08:18 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Tara (Post 1647525)
Lily do you work in HR?

me i hate it i work in construction albeit a big construction company but we are gonna lose 150 people in my region - since they installed oracle they have made our training dept redundant, also our submissions depart which leaves me and my team to do any submissions which isn't a hassle but its not good for them and also 2 of our regional offices are closing on top of the office that closed recently in bromborough.

on a personal level as we only bought our house last year we won't be able to afford to move until things improve drastically

not good at all

Similar situation I work in construction but I'm relatively cheap compared to some of the senior people.

My girlfriend works for a bank that was bought by Santander but is in a good position so should hopefully be safe,

And we bought our first hour 3 years ago, although we got it stupidly cheap and prices on similar house locally are still a good 35% up on what we paid for ours.

Things are fine, I have no intention of moving and could get a job elsewhere no problem, so unless things got considerably worse I'm ok.

Made the most of cheap bikes going about though lol :cool:

Quedos 08-10-08 08:23 AM

Re: I love the Credit Crunch
 
Don't mind it - my jobs wages are already being cut before this - on protection for three years - got a fixed rate mortgage which i have in writing will not be affected and honoured for the next 5yrs. the payments aren't a quarter of my wages - the credit card is paid off the cars my own i ain't interested in moving so apart from a few prices rises and watching what i spend i'm sorted. (sold my shares at the last peak and made a killing and bought my bike)

Flamin_Squirrel 08-10-08 08:42 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by keithd (Post 1647559)
oh and can the world please start calling it a recession not a credit crunch!

I know what you mean. Like 'carbon footprint', the term is beginning to grate. But, a recession is termed as negative growth, which we're not experiencing. Well, yet anyway.

Speaking of 'carbon footprints', amazing how quickly everyones forgotten about that since this financial catastrophy began.

G 08-10-08 08:44 AM

Re: I love the Credit Crunch
 
It will be back when the goverment have money to waste again :rolleyes:

keithd 08-10-08 08:45 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Flamin_Squirrel (Post 1647591)

Speaking of 'carbon footprints', amazing how quickly everyones forgotten about that since this financial catastrophy began.

yep! since i began to "tighten my belt" i've burnt sheep and flew across the atlantic twice as i figured global warming/cooling was all sorted.

Ed 08-10-08 08:47 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Flamin_Squirrel (Post 1647591)
Speaking of 'carbon footprints', amazing how quickly everyones forgotten about that since this financial catastrophy began.

Plainly you haven't. It must be very close to your heart:D

As for this morning's announcements, I dunno... a necessary evil I guess. Who's coming with the rescue boat to everyone else?

Flamin_Squirrel 08-10-08 08:59 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by keithd (Post 1647593)
yep! since i began to "tighten my belt" i've burnt sheep and flew across the atlantic twice as i figured global warming/cooling was all sorted.

:D excellent!

Quote:

Originally Posted by Ed (Post 1647594)
Plainly you haven't. It must be very close to your heart:D

:p Nah, it was just my general feeling that people were only pontificating about the environment because they had no real problems to moan about. Now they do have real problems, suddenly the environment gets forgotten about...

Quote:

Originally Posted by Ed (Post 1647594)
As for this morning's announcements, I dunno... a necessary evil I guess. Who's coming with the rescue boat to everyone else?

I spoke to someone in the know about all this business the other day. Surfice to say, this is far more complex than greedy banks needing a bail out.

But as the US is now socialist, perhaps black will become white and the world will turn its self inside out - who knows!

Paul the 6th 08-10-08 09:10 AM

Re: I love the Credit Crunch
 
oils running out, credit is broken, the ice caps are melting and i need some new tyres for my bike. Bit of a tight situation for all of us :(

Ed 08-10-08 09:24 AM

Re: I love the Credit Crunch
 
How many banks reported ginormous profits last year.

And in just a few months we're bailing them out with £50bn.

Perhaps their auditors can explain.

Can somebody please square this circle?

Sudoxe 08-10-08 09:51 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Ed (Post 1647594)
Plainly you haven't. It must be very close to your heart:D

As for this morning's announcements, I dunno... a necessary evil I guess. Who's coming with the rescue boat to everyone else?

Im in the the lifeboat and very grateful for the seat thank you
.
Hint: Contractor who pays himself monthly, and icesave. I'm feeling slightly more relieved now.

Flamin_Squirrel 08-10-08 10:01 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Ed (Post 1647644)
How many banks reported ginormous profits last year.

Ginormous compared to what though? A profit on its own is meaningless without context. You need to know how much money was invested to earn that profit.

A bank might earn £1bn in profit, but if they invested £100bn, then they're bringing in less than inflation and so essentially losing money.

G 08-10-08 10:06 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Flamin_Squirrel (Post 1647694)
Ginormous compared to what though? A profit on its own is meaningless without context. You need to know how much money was invested to earn that profit.

A bank might earn £1bn in profit, but if they invested £100bn, then they're bringing in less than inflation and so essentially losing money.

Profit is profit....your refering to turnover.

'Turnover is for vanity....profit is for sanity'

Iansv II 08-10-08 10:11 AM

Re: I love the Credit Crunch
 
Not really affecting me at the moment, just waiting on my outsourcing agreement to be signed and then i have my job guaranteed for 14months and then redundancy at the end of it if I don't want to stay

Looking to relocate to be closer to my girlfriend at the end of that time anyway and all my debts will be paid off by then so won't have any real overheads so currently its all good

Flamin_Squirrel 08-10-08 10:30 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by G (Post 1647702)
Profit is profit....your refering to turnover.

'Turnover is for vanity....profit is for sanity'

I'm refering to profit as a % of turnover. Think of it as savings if you like - you stick £10 in the bank, you might expect £11 back at the end of the year for your investment. If you get £10 back, or worse £9 back, you won't bother. Business is the same, just with more zeros on the end.

carty 08-10-08 11:36 AM

Re: I love the Credit Crunch
 
Quote:

Originally Posted by Flamin_Squirrel (Post 1647726)
I'm refering to profit as a % of turnover. Think of it as savings if you like - you stick £10 in the bank, you might expect £11 back at the end of the year for your investment. If you get £10 back, or worse £9 back, you won't bother. Business is the same, just with more zeros on the end.

Yes but picking up from what Ed said and using your example, it doesn't matter how much the bank invested, they all made a profit. So they all got their investment back plus some extra, ie, they put their £10 in and got their £11 back.

They didn't make a loss.


All times are GMT. The time now is 09:28 PM.

Powered by vBulletin® - Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.