corsa - gus
Member
Registered: 8th Jan 07
Location: Aberdeen, Scotland
User status: Offline
|
I think if you are failing to realise we are in recession you are incredibly silly, however the whole situation is being blown out of proportion by the media.
For those who believe the government won't stop spending you should think again, I am working on a pfi schools project. We are currently under construction on the first phase of works, my job will run the longest and won't be completed for another 18 months, in which time hopefully the market will pick up. However the second phase of new builds has been postponed, it was due to run in consecutively with the current builds.
Now this will create a massive problem in our area, we have no other work won and there are no large scale projects that are coming out for tender any time soon.
On another note, I have been trying to get a second mortgage and have been finding it difficult to do so. I currently own a property on a buy to let basis and make decent profits from it monthly. However the banks aren't keen to give me another mortgage. Even without the income from my tenants I would be able to easily cover both mortgages with my monthly wage. But as has already been said everybody is tightening the purse strings. Banks don't want to lend money, people want to sell their houses. It results in a viscous circle imo.
|
corsa - gus
Member
Registered: 8th Jan 07
Location: Aberdeen, Scotland
User status: Offline
|
quote:
Originally posted by Lawrah
 I love it, its quiet in work and somone askes me, ohh is it this quiet becuase of the credit crunch..Im like, well possibly, or because there is a shit load of snow outside and gale force winds.
I went for a hair cut at the weekend and said jokingly "Its quiet in here, must be the credit crunch" to which the hairdresser replied " Yeh, we are closing at the end of the month because we are getting hardly any custom at the moment" I felt like a right twat
|
RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
|
quote:
Originally posted by Ben J
Its affected the hotel industry. We have had to make redundancies and this is a Marriott i'm talking about not a small privatley owned hotel!
Luckily my job is about as safe as it gets in the hotel, but we got no xmas party and no bonus/pay increase, which is a shitter as I nailed last year and smashed all my targets etc! I've probably missed out on a £1k bonus 
[Edited on 18-01-2009 by Ben J]
Depends on the target market of the hotel entirely tbh; Clare's doing extremely well as the hotel is frequented by Gentry and OLD money who are not particularly fussed about a credit crunch. For example, the next 10 sundays in a row have at least 75 booked for Sunday Lunch at £35.00 per head! Thats as well as weddings, shooting parties (they have 44 acres of shooting and wood land) and functions at weekends all in a 16 bedroomed hotel.
However, new money hotels are suffering - there's a rumour that De Vere is about to go, especially as the owners seem to be shifting capital around and trying to sell off their bigger assets like Hotel de Vin, which was on the market for £700million but has dropped to £650million already! They paid £1.1billion for the DeVere group 2 years ago and at the time people thought that was over-priced.
In my line of work we're seeing a huge boom partly due to the strengthening of the Euro against the £ making us cheaper in Europe than ever before; The French Military placed a £2.5million order with us and finalised on the contract last week, thats on top of several other big money orders, (one for seven boats at £200k each). Our order book is stronger than it has been at any point in the last 10 years. We're actively recruiting and have already taken on 1/3 extra shop floor workers - our struggle is with demand rather than an economic downturn
|
RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
|
quote:
Originally posted by sam-smith
i mean building
at the moment princess isnt doing as bad as the rest but still no overtime and reduced hours for some
other companies are cutting to two day weeks etc
Sealine have shut 3 factories and laid 870 people off
Fairline have laid 275+ off
Princess I'm not sure about
Sunseeker iirc have not cut jobs yet but have halved production
Its hitting leisure really badly, the commercial and military markets though are in a strong situation. The MET Police have an order for 2 boats with an option for 2 more. Strathclyde Police have bought one, various other forces are in the market. Even the Environment agenc is about to awarda contract to someone for 15 smaller boats.
|
Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
|
Well I work for a life assurance company, profits are down but existing business is good and lots of people are rushing to take out Unemployment Cover as a result I got paid bonus today £882 after tax.
Credit Crunch?
|
Avey
Member
Registered: 4th Sep 02
Location: North West, Drives:Cosmic Grey CTR
User status: Offline
|
Not good in the house building industry  Im a Quantity Surveyor for a medium sized house builder
I'm now working 4 days a week, so near 20% cut in salary
But in saying that, I get to spend some time at home with the little uns which at the mo (nearly 2 years old & 8 years old) is worth more to me than the money 
Guaranteed employment til the end of April, but after then, who knows...
On the flip side to the country being in the shit. What hasn't been documented is that if you were previously looking to move up the property ladder, the difference in prices between houses is now smaller.
Agreed, prices may continue to fall, but there are some positives that could be pushed by the media
|
Graham88
Member
Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
User status: Offline
|
Credit Crunch hasn't affected my company, Underground has to be kept running 
|
Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
|
i hate idiots in general that say 'credit crunch'.
as a guy in work said, it makes you sound like your talking about a cereal ffs. get over it! you were coping fine with your money before it.
now, you still have the same money if your doing the same job, still own the same things, stil buying the same groceries/products, yet use this silly media term as a scapegoat.
pisses me right off.
|
M2RTY
Member
Registered: 25th May 01
User status: Offline
|
try being in manufacturing industry! I support IT for a company that makes nylon and polymers for:
airbags
car tyres
carpets
clothes
to name a few...all sales are down in these markets, has a huge knock on for us and thus the site is shutting
plus demand has shifted from Europe to Asia, so its cheaper to make it there then us make it and ship it over.
Thats comming from a global company with 18000+ employees which is owned by the 16th richest man in the world
|
taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
|
narrow minded people in here, you try telling people from the nissan factory, which is 5 mins from my door, which was the most productive in europe last year, why 1300 of them have been laid off and the rest are on a 3 day week?
or why thousands of people in the manufacturing industry have lost there jobs, and now cant find a new 1 as they are being snapped up.
the crunch is very real, maybe some people have there head so far up their arse they just dont see it though?
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
Get a grip before you make yourself look more stupid than you just have.
Not one person in this thread is under the illusion we arent going through hard times at the moment, its more just pointing out that not EVERYONE is having such a tough time like the media would have you think.
|
taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
|
quote:
Originally posted by Cosmo
Our sales have increased on previous years so far - so imo the credit crunch exists about as much as friendly terrorists do.
yes sure
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
quote:
Originally posted by corsabadboy
quote:
Originally posted by Cosmo
Our sales have increased on previous years so far - so imo the credit crunch exists about as much as friendly terrorists do.
yes sure
If you couldnt guess that was a joke then you obviously have a sense of humour on the level of muslim extremists.
That was a joke btw incase you didnt realise.
|
taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
|
you are correct not EVERYONE is affected, but there is hundreds of thousands of people who are, hundreds of companys in the northeast are set up with the main goal of supplying nissan, nissans makes no cars, they sell no parts, and the whole area is up shit creek with no paddle.
as for people saying "you still earn the same money blah blah" i am fortunate enough to have not lost my job so far but with hours being cut i have lost £500+ per month in overtime, which is imo a lot of money
|
taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
|
and no, i have no humour at all when my job is at risk
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
And Im sorry for you, but the fact is not everyone is in the same boat.
Im making more money than I ever have, sales are rising by a very noticeable amount, smaller competitors are struggling and going out of business so its good news for us in that we have less competition and can expand quickly, house prices have dropped and people are desperate to sell so I'll benefit when I come to buy later this year and I'll get a great mortgage as banks scamble for my custom. The list goes on.
|
taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
|
im happy for you and hope all stays rosey. but the fact remains that there is a major recession, whether it affects you or not
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
quote:
Originally posted by corsabadboy
im happy for you and hope all stays rosey. but the fact remains that there is a major recession, whether it affects you or not
and we are back full circle - no one is saying otherwise, just pointing out its not all doom and gloom.
|
taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
|
but there is still a lot of it
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
quote:
Originally posted by corsabadboy
but there is still a lot of it
Of course their is, thats plain to see to everyone.
|
taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
|
anyway stop baiting me. im sick of hearing about it too
|
charcoalgrill
Member
Registered: 23rd Oct 02
Location: Bristol
User status: Offline
|
is it me, or is todays news that growth fell to 3.1% annual figure, just the newspapers way of trying to jump on the band wagon of "credit crunch"
its my understanding that the governments macroeconomics policy is to have growth between 2-4% CPI? which it is?
But they are quoting Retail price index (RPI) has dropped- which is because the mortgage rates have dropped- so quite predictable really.
|
Hammer
Member
Registered: 11th Feb 04
User status: Offline
|
Papers trying to cause controversy through sensationalist headlines?
Not a chance.
|
willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
User status: Offline
|
quote:
Originally posted by Ben G
i hate idiots in general that say 'credit crunch'.
as a guy in work said, it makes you sound like your talking about a cereal ffs. get over it! you were coping fine with your money before it.
now, you still have the same money if your doing the same job, still own the same things, stil buying the same groceries/products, yet use this silly media term as a scapegoat.
pisses me right off.
Ben you seem to lack quite alot of information of whats happened in the economy for the last year and a half. Food got more expensive, so did petrol, people lost their jobs or had their days/pay cut and house prices are dying a death, even worse people have fucking large mortgages on houses which arent worth shit. This is a very real situation.
No it isnt a scapegoat, our economy is actually proper fucked.
[Edited on 21-01-2009 by willay]
|
willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
User status: Offline
|
quote:
Originally posted by Hammer
Papers trying to cause controversy through sensationalist headlines?
Not a chance.
the Solution? stop reading The Sun and get a proper newspaper/source.
|
