BBC reporting that RBS will not split itself into two separate good and bad banks, but will create an internal "bad bank", ring-fencing £38bn of bad assets - such as loans it does not expect to have repaid. - The report then goes on to say “Fencing off £38bn of bad quality assets within the bank to be then sold off”
A question for the whizz kids out there: -With RBS creating an internal ‘bad bank’ with the future intention of selling it off, has RBS split in two, to all intents and purpose, or is this mechanism fundamentally different?
I’m sure there are advantages involved, but to the high finance ignoramuses out there (me), it look more like a face saving exercise than anything else.
From my limited understanding, the separation internally is to intensify efforts to shrink the size of these toxic loans in the next 2 years.
I should imagine this will involve getting what they can as soon as possible for these assets - lancing the boils so to speak.
Couple of interesting tweets from Peston on RBS:
"Just interviewed Chancellor. He reveals how difficult his relationship with RBS became over bank strategy before Hester left
Chancellor's main message is RBS has to be very British retail and commercial bank. Goodwin's global and investment bank ambitions killed"
Sounds like either Hester wanted 'bad bank' or to maintain global presence...or both.....
"After a 25 per cent depreciation of sterling, Britain’s current account deficit has barely improved, a situation Charlie Bean, Bank of England deputy governor, called “distinctly disappointing”. British exporters have performed far worse than their counterparts in Ireland, Spain and Portugal. Falls in investment have been detracting from economic growth since 2010 with private consumption again becoming the main driver of expansion."
It's not that Britain's exporters are doing badly it's that there isn't enough of them left to support the economy after 30 years of bankstas looting the industrial base and shipping it abroad with the active collusion of the political class.
And the fall in investment is partly due to not having a functioning traditional banking system any more because those same bankstas aren't interested in low-level investment. They're only interested in sucking every scrap of capital out of the country into the London casino banks and then using it for either mega-investment projects or gambling.
Indeed, the relatively high end manufacturing that we need to compete in can't be turned on in an instant and since we were already struggling in manufacturing before the recession it will take time to really get growth going.
Still as today's Markit Manufacturing PMI showed, there are some positives.
"The UK manufacturing sector carried its strong third quarter performance into the final quarter of the year. October saw production and new orders both rise at rates above their respective long-run averages, leading to further job creation.
The domestic market remained a prime source of new contract wins, while growth of new export business accelerated on the back of improving global market conditions.
Total new orders also rose at a rate close to August’s 19-year peak, as new export business increased at the quickest clip since February 2011.
Manufacturing employment rose for the sixth consecutive month in October.
The survey suggests manufacturing output is growing at a quarterly rate of around 1%-1.5%. "
Labour Uncut have penned a series of thoughtful critiques of the current regime - and some great quotes the Mail would kill for:
"Soon afterwards I was encouraged to attend a residential course run by Unite to ‘educate’ those they felt may one day become a politician – as mad as the idea of my participation now sounds. The surroundings seemed a little odd for a trade union HQ. The huge mansion in Esher (“modelled on a French Chateau” as the Unite website describes it) was set amidst acres of sprawling Surrey countryside, slap bang in the middle of the banker belt. It was so posh I swear it took me a week to shower off the smell of quinoa. "
BBC reporting that RBS will not split itself into two separate good and bad banks, but will create an internal "bad bank", ring-fencing £38bn of bad assets - such as loans it does not expect to have repaid. - The report then goes on to say “Fencing off £38bn of bad quality assets within the bank to be then sold off”
A question for the whizz kids out there: -With RBS creating an internal ‘bad bank’ with the future intention of selling it off, has RBS split in two, to all intents and purpose, or is this mechanism fundamentally different?
I’m sure there are advantages involved, but to the high finance ignoramuses out there (me), it look more like a face saving exercise than anything else.
Creating a bad bank would have spun it all off into a separate entity in a single transaction. This would free RBS of all the risk and the managament distraction plus get them some capital up front. However if done privately it would need to be at a massive discount to the face value of the loans (if possible at all because of the size of the deal) and I suspect that RBS would also have to end up lending, say, 75% of the purchase price to the acquiring vehicle on a non-recourse basis so they would still be exposed to much of the risk. Alternatively it could be put into a government owned vehicle - in the US the government vehicle actually made money and NRAM (N. Rock's bad bank) seems to be heading that way as well, but politically it wouldn't play well.
What RBS has done instead is to put the bad loans into a separate pocket to be worked out. They are going to look to exit them over time and in a way to maximise value for shareholders. They will also report on the basis of "core" numbers and hope to persuade the analysts not to focus on the bad stuff. Pros are that it is simple to do and should - in theory - maximise value for shareholders. Cons are that you don't release the capital upfront, you still need to allocate management resources to the work out teams, there's less opportunity for a 'fresh start' and, of course, shareholders (i.e. us) remain on the hook if it all goes wrong...
On balance it's probably the right decision to put it into a sidecar but not spin off.
Banksy has had some wonderful ideas, though his anonymity seems to be a marketing tool, or even just another joke.
At the bottom of St Michael's Hill near the BRI, just before Tony Blair resigned, someone spray painted an image of Blair as Rupert the Bear with the caption last night in Chequers.
Banksy has had some wonderful ideas, though his anonymity seems to be a marketing tool, or even just another joke.
At the bottom of St Michael's Hill near the BRI, just before Tony Blair resigned, someone spray painted an image of Blair as Rupert the Bear with the caption last night in Chequers.
The whole Banksy scene annoys me intensely . It would go into my room 101.
At the moment this is all about who wins the Labour selection contest not who polling suggests is most popular with the voters.
I thought this thread was about how good a 33-1 shot for winning London Mayor was? Khan can be as favourable as he likes with the Labour nomination but your £100 is going down the proverbial if he doesn't actually become Mayor. And to win the candidate will almost certainly have to be a well known and liked figure.
1.Whoever is Labour candidate will be favourite 2.You'll be able to trade the 33/1 at sub-evens. 3.Frankly Mr Shanki I don't think you understand betting
1. Not necessarily. You don't know that. There are various reasons why Labour may not be favourite and you have absolutely no right to declare it as a fact. As stupid as Savage saying Man Utd will finish 5th: not 4th, not 6th, but 5th. Arse. 2. Not necessarily. Depends if it's tradeable which they often aren't. 3. Well well, well isn't someone just a chauvinist as well as rude? A mask has slipped Mr Tim. Shanki is Sharon.
I'll offer you fifty pounds at evens that you'll have at least a month, and the market will be available , to trade the Lab candidate as favourite.
Not particularly favourable odds for a £50 stake thanks, and why would I want to bet with a chauvinist.
This is interesting, Keith Vaz off-message (and the Home Affairs Committee doing its job):
The European Arrest Warrant is "flawed" and needs to be reformed, the Home Affairs Committee of MPs has said. ... Committee chairman Keith Vaz said: "The European Arrest Warrant, in its existing form, is fundamentally flawed and has led to a number of miscarriages of justice with devastating consequences for those concerned.
"We welcome the government's proposed reforms, but are concerned that they do not go far enough.
"The House should be given the opportunity to vote separately on continued UK membership of the EAW as early as possible in order to provide a parliamentary mandate for any future negotiations."
.. which is what many Tory MPs have been saying, for a long while, to derision from the usual suspects, and from Labour.
At the moment this is all about who wins the Labour selection contest not who polling suggests is most popular with the voters.
I thought this thread was about how good a 33-1 shot for winning London Mayor was? Khan can be as favourable as he likes with the Labour nomination but your £100 is going down the proverbial if he doesn't actually become Mayor. And to win the candidate will almost certainly have to be a well known and liked figure.
1.Whoever is Labour candidate will be favourite 2.You'll be able to trade the 33/1 at sub-evens. 3.Frankly Mr Shanki I don't think you understand betting
1. Not necessarily. You don't know that. There are various reasons why Labour may not be favourite and you have absolutely no right to declare it as a fact. As stupid as Savage saying Man Utd will finish 5th: not 4th, not 6th, but 5th. Arse. 2. Not necessarily. Depends if it's tradeable which they often aren't. 3. Well well, well isn't someone just a chauvinist as well as rude? A mask has slipped Mr Tim. Shanki is Sharon.
I'll offer you fifty pounds at evens that you'll have at least a month, and the market will be available , to trade the Lab candidate as favourite.
Not particularly favourable odds for a £50 stake thanks, and why would I want to bet with a chauvinist.
I hadn't given any thought to gender, if assumed it was rhyming slang
Stop digging Tim !! You are now presuming Ms Shanki is a salt of the earth cockney type who hold their lapels whilst dancing down the Old Kent Road!!
Banksy has had some wonderful ideas, though his anonymity seems to be a marketing tool, or even just another joke.
At the bottom of St Michael's Hill near the BRI, just before Tony Blair resigned, someone spray painted an image of Blair as Rupert the Bear with the caption last night in Chequers.
Given his New York 'The Banality of the Banality of Evil' sold for $610,000, I wonder how those who removed or destroyed his other works feel.....?
price of a banksy in New York $620,000 price of a banksy in London £300,000 price of the satisfaction of saying ' right get down this krap from my wall . I don't care what some pretentious arse and his pretentious and greedy followers/lackeys/ass lickers think they can do to my wall its rubbish and the wall looks better as it was' -PRICELESS
Several bald men arguing over a toothless comb springs to mind.
'Ukip in Scotland thrown into chaos amid rumours of leadership coup
One senior source said: "It's an utter shambles. We've no organisation, Mike Scott-Hayward is nowhere to be seen, no-one's heard from Christopher (Lord) Monckton (Ukip Scottish president) and it's really not like any political party I've ever heard of. Communications disappear into a black hole, there's brewing friction and internal politics has taken over. Every party has divisions but there's no structures here to deal with it. It's all very demoralising."'
@Peterthepunter Turns out we've been missing the real horse tipster all the time - A lad who was working in the workshop apparently won £4,500 on the nags ! I can't imagine he'd be staking much more than up to £50/bet either
Oh Gawd, humane, principled, free-range betting now. If you're so concerned with your XX chromosome, wouldn't taking £50 off the phallocentric, paternalistic bloke-ocracy be even more pleasurable?
I imagine this is more to do with politics in Scotland than in Wales, showing that the Coalition can devolve further powers without a gun to its head.
Hasn't legislation already been passed to give Scotland these powers?
"The Scotland Act 2012 gives the Scottish Parliament the power to set a Scottish rate of income tax to be administered by HM Revenue & Customs (HMRC) for Scottish taxpayers. It is expected to apply from April 2016. The Act also fully devolves the power to raise taxes on land transactions and on waste disposal to landfill – it is expected that this will take effect in April 2015, at which point the existing Stamp Duty Land Tax and Landfill Tax will not apply in Scotland. The Act also provides powers for new taxes to be created in Scotland and for additional taxes to be devolved."
Are reporters these days incapable of maths and/or fact checking - "David Cameron has since promised a review of so-called green levies which add £60, or 9%, to an energy bill." I am quite sure the 'average' bill is not £667. With such a basic error I have no idea if the rest of the story is correct.
I imagine this is more to do with politics in Scotland than in Wales, showing that the Coalition can devolve further powers without a gun to its head.
Hasn't legislation already been passed to give Scotland these powers?
"The Scotland Act 2012 gives the Scottish Parliament the power to set a Scottish rate of income tax to be administered by HM Revenue & Customs (HMRC) for Scottish taxpayers. It is expected to apply from April 2016. The Act also fully devolves the power to raise taxes on land transactions and on waste disposal to landfill – it is expected that this will take effect in April 2015, at which point the existing Stamp Duty Land Tax and Landfill Tax will not apply in Scotland. The Act also provides powers for new taxes to be created in Scotland and for additional taxes to be devolved."
Whether & how they use them may be another matter entirely.....
I was meaning more the general principle of further devolution. One of the Yes campaign's arguments will be that No will mean No Further Devolution. This is presumably designed in part to spike that argument.
I imagine this is more to do with politics in Scotland than in Wales, showing that the Coalition can devolve further powers without a gun to its head.
As a Welsh person, I hadn't thought of it like that. I just wonder what happens regarding borrowing powers. They don't raise any revenue at the moment and what happens if they go bust a la California? Would Westminster bail them out? If yes, what is the incentive to be responsible?
Are reporters these days incapable of maths and/or fact checking - "David Cameron has since promised a review of so-called green levies which add £60, or 9%, to an energy bill." I am quite sure the 'average' bill is not £667. With such a basic error I have no idea if the rest of the story is correct.
Yes, they are incapable of maths and fact checking. Or rather, they could probably do those things if they tried, but they have no incentive, because the customers pick the most entertaining media rather than the most informative. The comments section often has somebody explaining what's actually going on. Skim over the articles and go straight to the actual information on the bottom half.
I imagine this is more to do with politics in Scotland than in Wales, showing that the Coalition can devolve further powers without a gun to its head.
Hasn't legislation already been passed to give Scotland these powers?
"The Scotland Act 2012 gives the Scottish Parliament the power to set a Scottish rate of income tax to be administered by HM Revenue & Customs (HMRC) for Scottish taxpayers. It is expected to apply from April 2016. The Act also fully devolves the power to raise taxes on land transactions and on waste disposal to landfill – it is expected that this will take effect in April 2015, at which point the existing Stamp Duty Land Tax and Landfill Tax will not apply in Scotland. The Act also provides powers for new taxes to be created in Scotland and for additional taxes to be devolved."
Whether & how they use them may be another matter entirely.....
I was meaning more the general principle of further devolution. One of the Yes campaign's arguments will be that No will mean No Further Devolution. This is presumably designed in part to spike that argument.
Yes - but one of the things the SNP wants devolved - Corporation tax - hasn't been - similarly, one of the recommendations for Wales - that APD be devolved (to boost Trans Atlantic flights from Cardiff) wasn't - I think we have to wait to see whether & to what extent these devolved powers are used. As Ashcroft observed in his Scottish study:
"Asked to say unprompted what they considered the Scottish Parliament’s main achievements, two thirds mentioned the provision of free services. Most thought that taxes and borrowing in Scotland would rise if Holyrood were given full financial responsibility, but only 29% thought public services would improve."
This is interesting, Keith Vaz off-message (and the Home Affairs Committee doing its job):
The European Arrest Warrant is "flawed" and needs to be reformed, the Home Affairs Committee of MPs has said. ... Committee chairman Keith Vaz said: "The European Arrest Warrant, in its existing form, is fundamentally flawed and has led to a number of miscarriages of justice with devastating consequences for those concerned.
"We welcome the government's proposed reforms, but are concerned that they do not go far enough.
"The House should be given the opportunity to vote separately on continued UK membership of the EAW as early as possible in order to provide a parliamentary mandate for any future negotiations."
.. which is what many Tory MPs have been saying, for a long while, to derision from the usual suspects, and from Labour.
I imagine this is more to do with politics in Scotland than in Wales, showing that the Coalition can devolve further powers without a gun to its head.
As a Welsh person, I hadn't thought of it like that. I just wonder what happens regarding borrowing powers. They don't raise any revenue at the moment and what happens if they go bust a la California? Would Westminster bail them out? If yes, what is the incentive to be responsible?
That's an important question, and just as relevant to local authorities as to Wales and Scotland, given the much-bruited idea of letting local authorities borrow more to build more social housing. While there would be no legal obligation to do a bail-out, there would be political pressure to do so. Because of the politics of the Scottish and Welsh governments, this pressure would be much stronger on a Labour government in Westminster than on the Coalition. It's hard to imagine a bail-out without some reversal of devolution in practice, if not legal theory.
"For all the spin and hype that surrounded conference season, it’s now clear neither of the main parties ‘won it’. That’s because, if we’re honest, no one ever wins them. The electorate doesn’t make its political choices on the basis of set-piece appeals, it absorbs its politics subliminally over a period of months and years. It doesn’t recognise ‘make or break’ speeches, or moments.
The 2013 conference season was a draw. As the previous one was. And the next..."
Not the same Tory MPs engaged in running HMG since 2010, presumably.
Oh, I think so, but unfortunately without a majority. The Liberal Democrats for some reason are vehemently opposed to addressing what Keith Vaz rightly describes as "miscarriages of justice with devastating consequences for those concerned", which is odd given the name and heritage of the party. Labour are also opposed, but that's less odd.
@Pulpstar Cheer up, the FT published a letter a few years back from a man who had very nearly bought a Jackson Pollock in the 1940s for $500, but had correctly concluded after a few weeks of agonising that he couldn't really afford it. The letter was published shortly after the same picture had sold for $140,000,000.
My grandfather nearly bought all the film rights to James Bond for £50,000 ...
(he was a bridge partner of Fleming's)
OMW - that'd be the Sale of the Century if he'd done it.
"In fact, they are pursuing what you could call The Grangemouth Strategy. You will recall that up in Grangemouth, Len McCluskey and the Unite union successfully presented themselves as the friend of the ordinary workers. They would stand up to the bosses and vested corporate interests, they said. “Workers of Grangemouth, we are on your side,” they said.
And the bosses looked at them, shrugged and said “Fine. We’re out of here.”
That is Labour’s business strategy writ large. Ed Miliband is striking his populist pose. Bashing the bankers. Bashing the tax avoiders. Bashing the energy companies. Trying to convince the voters he is on their side.
Meanwhile, the international business community is sitting there quietly. It’s watching. And it’s waiting."
If Peter the Punter is still around, I'd be very grateful for a hint or two! Not much of a punter myself but I dabble, and mostly lose my political bets. Any help to balance the books would be very happily received.
Also I just had a Labour party worker knock on my door asking me to sign a petition on energy prices. As I think it's a silly Brownian short-term stunt Miliband's playing on this I sent him away with a firm and clear 'no!', but is this something other people have come across? Seems a bit odd to me, given Osborne can shaft the whole ploy by shifting green taxes off energy bills into general taxation at the drop of an Autumn Statement (but then as I said, I lose most of my political bets...)
"In fact, they are pursuing what you could call The Grangemouth Strategy. You will recall that up in Grangemouth, Len McCluskey and the Unite union successfully presented themselves as the friend of the ordinary workers. They would stand up to the bosses and vested corporate interests, they said. “Workers of Grangemouth, we are on your side,” they said.
And the bosses looked at them, shrugged and said “Fine. We’re out of here.”
Ha, I was just about to post this! I think it's a great summary of what's been happening at Grangemouth and shows that unions just can't take the same approach with private sector bodies as they can with the public sector. A business is free to up sticks and leave in a way that simply isn't open to the public sector.
"In fact, they are pursuing what you could call The Grangemouth Strategy. You will recall that up in Grangemouth, Len McCluskey and the Unite union successfully presented themselves as the friend of the ordinary workers. They would stand up to the bosses and vested corporate interests, they said. “Workers of Grangemouth, we are on your side,” they said.
And the bosses looked at them, shrugged and said “Fine. We’re out of here.”
That is Labour’s business strategy writ large. Ed Miliband is striking his populist pose. Bashing the bankers. Bashing the tax avoiders. Bashing the energy companies. Trying to convince the voters he is on their side.
Meanwhile, the international business community is sitting there quietly. It’s watching. And it’s waiting."
"Pointing again to the Labour leader’s conference address, he warned: “I think it set Labour’s pro-enterprise credentials back. Messrs Miliband, Balls and Umunna had spent the previous year reaching out to the business community, showing they understood … I think you go to the party conference expecting the leader to speak to the room, a group which is predominantly not business. You’re expecting a couple of things unpalatable. But you don’t expect five in one speech.”"
"It was famously derided at the time by Michael Heseltine, who mockingly told the House of Commons: “I hear wherever I go that the right honourable and learned gentleman has become a star attraction in the City. Lunch after lunch, dinner after dinner, the assurances flow. Not a discordant crumb falls on to the thick pile … All those prawn cocktails for nothing. Never have so many crustaceans died in vain. With all the authority I can command as Secretary of State for the Environment, let me say to the Right Honourable and learned member for Monklands East [John Smith], 'save the prawns'.”
On the London Mayor, If the tories put up Coe then I believe they should have some popular ambitious projects to push as people will think 'yeah this guy can deliver them' as opposed to the nice but not a natural leader like Khan or a luvvie like Izzard. The tories had the right idea when choosing Boris to push a fun cool type of London agenda . This strategy would need to be changed to a 'lets do the impossible' agenda if they had Coe running (excuse the pun)
Owen Jones just had a Life of Brian moment on Daily Politics
A Neil: So you're a Social Democrat? O Jones: I'm a Democratic Socialist...
He got into a bit of trouble with Neil when pleading for the German Social Democrats as examples of successful implementers of Marxist theory. Neil, who knows his stuff : 'In 1958 the German Social Democrats explicitly rejected Marx'......
Patrick O'Flynn tweets: "Maybe I'm unusual as a right-of-centre person in being mystified at the vitriol Owen Jones attracts. Nice lad, does us plenty of favours."
The decision by OFWAT not to allow Thames Water to increase their bills may put the controversial Thames Tidal Scheme under threat. Although that may or may not be a good thing, depending on your viewpoint on the environment.
It comes down to how much risk Thames Water is taking on for the construction costs (*), and how much they are passing straight on to the consumer ...
But will Miliband actually propose something sensible thuis time?
(*) Unlike (say) a railway or a road, the TTS will not produce a meaningful direct or indirect income. It's billions spent just to further clear up the waters of the Thames.
Patrick O'Flynn tweets: "Maybe I'm unusual as a right-of-centre person in being mystified at the vitriol Owen Jones attracts. Nice lad, does us plenty of favours."
He certainly acts as a cattle prod not to go back to Labour when I have weak moments!
"The education secretary, Michael Gove, said the introduction of a more demanding maths curriculum was to improve the attainment of pupils in England compared with their counterparts in other advanced industrial countries.
"The new mathematics GCSE will be more demanding and we anticipate that schools will want to increase the time spent teaching mathematics," Gove said in a written statement to parliament announcing the changes on Friday.
An international survey of adult skills published last month found that 16- to 24-year-olds in England ranked 21st for numeracy out of 24 countries. Pupils in England were ranked 27th in maths in the international assessment known as Pisa conducted by the Organisation for Economic Co-operation and Development in 2009."
Patrick O'Flynn tweets: "Maybe I'm unusual as a right-of-centre person in being mystified at the vitriol Owen Jones attracts. Nice lad, does us plenty of favours."
I love Owen Jones - I wish BenM was also a guest on QT.
The decision by OFWAT not to allow Thames Water to increase their bills may put the controversial Thames Tidal Scheme under threat. Although that may or may not be a good thing, depending on your viewpoint on the environment.
It comes down to how much risk Thames Water is taking on for the construction costs (*), and how much they are passing straight on to the consumer ...
But will Miliband actually propose something sensible thuis time?
(*) Unlike (say) a railway or a road, the TTS will not produce a meaningful direct or indirect income. It's billions spent just to further clear up the waters of the Thames.
The Royal Mail and Trains and phones etc can all be better in the private sector but as a person who believes the state should do the bare minimum in terms of industry I think water supply is more of a public service that cannot be duplicated, substituted or be that innovative or product differentiate . Why it was privatised I never know. The necessary sewer would have been built using general taxation which is what taxation should be used for (as opposed to grants, welfare or public inquiries )
O/T but this was a cracking comment at the DT blogs today:
"I don't think it's quite fair to compare socialists with zombies.
One is an awful, shambling, nearly brain-dead creature that lives a parasitic existence. Lacking any means of fending for itself, its withered synapses retain only the instinct to predate on human beings in order to feed. A pest in small numbers, they quickly become a dangerous menace when in large swarms. Their eerie uniformity and constant moaning is chilling.
about a Rasmussen survey that shows Americans are split 37% each way on whether zombies would do a better or worse job of running government than the Government.
"The education secretary, Michael Gove, said the introduction of a more demanding maths curriculum was to improve the attainment of pupils in England compared with their counterparts in other advanced industrial countries.
"The new mathematics GCSE will be more demanding and we anticipate that schools will want to increase the time spent teaching mathematics," Gove said in a written statement to parliament announcing the changes on Friday.
An international survey of adult skills published last month found that 16- to 24-year-olds in England ranked 21st for numeracy out of 24 countries. Pupils in England were ranked 27th in maths in the international assessment known as Pisa conducted by the Organisation for Economic Co-operation and Development in 2009."
On the London Mayor, If the tories put up Coe then I believe they should have some popular ambitious projects to push as people will think 'yeah this guy can deliver them' as opposed to the nice but not a natural leader like Khan or a luvvie like Izzard. The tories had the right idea when choosing Boris to push a fun cool type of London agenda . This strategy would need to be changed to a 'lets do the impossible' agenda if they had Coe running (excuse the pun)
Co wants the IAAF top job, not 100% sure he will get it though... perhaps - Anyway he might not get it or might change his mind. At 16-1 he is tempting though.
The correct odds for this depend on 3 or 4 events:
1) He doesn't get the IAAF top job in 2015 or doesn't go for it ~50% maybe 2) Boris Johnson doesn't run again 50% perhaps... 3) He runs and gets the nomination for CON 70% perhaps ? 3) His odds vs whoever is Labour contender. 45% maybe ?
All seems to add up pretty much to 16-1, but I'm really not sure
I think he is (Along with Boris maybe) on of only a few Conservatives that could beat Labour, he has alot of standing due to the success of the Games. The big two unknowns are does he get the IAAF top job and does Boris not stand again. In for a fiver anyways...
If Peter the Punter is still around, I'd be very grateful for a hint or two! Not much of a punter myself but I dabble, and mostly lose my political bets. Any help to balance the books would be very happily received.
Also I just had a Labour party worker knock on my door asking me to sign a petition on energy prices. As I think it's a silly Brownian short-term stunt Miliband's playing on this I sent him away with a firm and clear 'no!', but is this something other people have come across? Seems a bit odd to me, given Osborne can shaft the whole ploy by shifting green taxes off energy bills into general taxation at the drop of an Autumn Statement (but then as I said, I lose most of my political bets...)
There are better punters than me around here, Chuck, but I do manage to supplement my pension with betting winnings so if you do follow my tips, you should finish ahead in the long run...but as I have warned before, the run can be very long indeed.
I bet more on the horses these days because of the lack of political markets but the latter are very lucrative when they come along. There's a bit of a lull at the moment but the US elections are getting interesting. We had a whole thread on that very recently, so I won't reprise, except to say that nothing has dissuaded me since from my view that Hillary is a good bet at 6/4 to be Democrat nominee but even better value is the 5/2 that the next US President will be female. (There are about four other plausible possibilities in addition to Hillary.)
The UK side is dull at present. Sadiq Khan at 12/1 is probably just about value in the London Mayor race. Nothing else worth mentioning.
I've just finished working on today's racing cards and was about to put my fancies up at Pulpstar's request. None of them are outstanding, but I have backed them myself to small stakes - all each way unless stated otherwise.
Wetherby 1.40 Glencree 16/1 2.45 Royal Irish Hussar 7/2 (win) 3.55 Cyrien Star 7/1
Uttoxeter 1.50 Another Flutter 10/3
Wolverhampton 6.25 Polar Forest 11/4 (win) 6.55 Oliver's Mount 5/1 7.55 Hanalei Bay 4/1
And if you had three shredded wheat for breakfast....
The decision by OFWAT not to allow Thames Water to increase their bills may put the controversial Thames Tidal Scheme under threat. Although that may or may not be a good thing, depending on your viewpoint on the environment.
It comes down to how much risk Thames Water is taking on for the construction costs (*), and how much they are passing straight on to the consumer ...
But will Miliband actually propose something sensible thuis time?
(*) Unlike (say) a railway or a road, the TTS will not produce a meaningful direct or indirect income. It's billions spent just to further clear up the waters of the Thames.
The Royal Mail and Trains and phones etc can all be better in the private sector but as a person who believes the state should do the bare minimum in terms of industry I think water supply is more of a public service that cannot be duplicated, substituted or be that innovative or product differentiate . Why it was privatised I never know. The necessary sewer would have been built using general taxation which is what taxation should be used for (as opposed to grants, welfare or public inquiries )
I am inclined to agree with you. Of all the privatised utilities, water/sewage seems the one least suited for private ownership.
Mr Punter, enormous thanks to you. And particularly thanks for the political tips. I could do with an improvement in my form. And don't worry, I appreciate it's a long-term game. Top of a fine afternoon to you sir, and good luck yourself!
Talking about political punting and the fact that at the moment a few punters are 'in' , has anyone seen the how many lid dem deposits will be lost market ? I scanned the last election quickly and could only find 2 or 3 lost lib dem deposits . under 50 is 2/1 . Will they really not get 5% in 50 seats ? (from not getting 5% in only 2 or 3 last time) . Will they realy be able to polarise their vote so much more than last time ?
Mr Punter, enormous thanks to you. And particularly thanks for the political tips. I could do with an improvement in my form. And don't worry, I appreciate it's a long-term game. Top of a fine afternoon to you sir, and good luck yourself!
Very welcome, Chuck.
You new(ish) here? Pleased to hear from you anyway.
Talking about political punting and the fact that at the moment a few punters are 'in' , has anyone seen the how many lid dem deposits will be lost market ? I scanned the last election quickly and could only find 2 or 3 lost lib dem deposits . under 50 is 2/1 . Will they really not get 5% in 50 seats ? (from not getting 5% in only 2 or 3 last time) . Will they realy be able to polarise their vote so much more than last time ?
The number we need isn't how many they didn't make 5% in last time, it's what % they got in their 50th-worst seat.
F1: just tuned in and the commentators are saying that P2 is actually the most important, because the time (and conditions, from late afternoon to dusk) coincides with qualifying and the race, whereas P1 and P3 are earlier and hotter, so less useful.
Talking about political punting and the fact that at the moment a few punters are 'in' , has anyone seen the how many lid dem deposits will be lost market ? I scanned the last election quickly and could only find 2 or 3 lost lib dem deposits . under 50 is 2/1 . Will they really not get 5% in 50 seats ? (from not getting 5% in only 2 or 3 last time) . Will they realy be able to polarise their vote so much more than last time ?
The number we need isn't how many they didn't make 5% in last time, it's what % they got in their 50th-worst seat.
yes and I would be grateful for the answer if you have it?
"In fact, they are pursuing what you could call The Grangemouth Strategy. You will recall that up in Grangemouth, Len McCluskey and the Unite union successfully presented themselves as the friend of the ordinary workers. They would stand up to the bosses and vested corporate interests, they said. “Workers of Grangemouth, we are on your side,” they said.
And the bosses looked at them, shrugged and said “Fine. We’re out of here.”
Ha, I was just about to post this! I think it's a great summary of what's been happening at Grangemouth and shows that unions just can't take the same approach with private sector bodies as they can with the public sector. A business is free to up sticks and leave in a way that simply isn't open to the public sector.
Which is why any talk of nationalisation of anything should be stamped on.
Mr Punter, enormous thanks to you. And particularly thanks for the political tips. I could do with an improvement in my form. And don't worry, I appreciate it's a long-term game. Top of a fine afternoon to you sir, and good luck yourself!
Very welcome, Chuck.
You new(ish) here? Pleased to hear from you anyway.
Followed you in at Wetherby and Uttoxter - Raceclear has also picked Cyrien Star...
Mr Punter, enormous thanks to you. And particularly thanks for the political tips. I could do with an improvement in my form. And don't worry, I appreciate it's a long-term game. Top of a fine afternoon to you sir, and good luck yourself!
Very welcome, Chuck.
You new(ish) here? Pleased to hear from you anyway.
Followed you in at Wetherby and Uttoxter - Raceclear has also picked Cyrien Star...
I actually like the two favorites in that race, silver Dragon and Cleve Cottage, but Cyrien looked better at the prices. It has been supported.
Hey, Ed, stop beating about the bush, and just come out with something like...
"We are socialists, we are enemies of today’s capitalistic economic system for the exploitation of the economically weak, with its unfair salaries, with its unseemly evaluation of a human being according to wealth and property instead of responsibility and performance."
In answer to the Lib Dem lost deposit question - a quick review of the data suggests that Glasgow South was the LD's 50th worst seat - at 11.8%.
Of those 50, 28 are in Scotland...
Thanks Lennon- roughly then they must lose slightly over half their vote share-- possible but I like the 2/1 they won't
Potentially - although there is clearly some asymetric risk here - as mentioned, of the 50 seats, 28 are in Scotland, which might act differently to the norm. Even more extreme, 43 are Labour seats, 4 are SNP seats, and just 3 are Tory seats. If you want to consider a bit above the 50th seat, the 75th worst seat is Ealing North (13.18%) and the 100th worst seat Croydon North (13.98%).
Obviously I have disregarded NI and the Speaker where they didn't stand.
"MrBishi • 16 minutes ago − George Osborne is desperate to sell some more UK assets at 50% below their value in order to give him a treasure chest to give away just before the next election. I wouldn't be surprised to hear that he is negotiating to sell Scotland to the Chinese."
Do you think it could be arranged, pre-referendum?
In answer to the Lib Dem lost deposit question - a quick review of the data suggests that Glasgow South was the LD's 50th worst seat - at 11.8%.
Of those 50, 28 are in Scotland...
Thanks Lennon- roughly then they must lose slightly over half their vote share-- possible but I like the 2/1 they won't
Potentially - although there is clearly some asymetric risk here - as mentioned, of the 50 seats, 28 are in Scotland, which might act differently to the norm. Even more extreme, 43 are Labour seats, 4 are SNP seats, and just 3 are Tory seats. If you want to consider a bit above the 50th seat, the 75th worst seat is Ealing North (13.18%) and the 100th worst seat Croydon North (13.98%).
Obviously I have disregarded NI and the Speaker where they didn't stand.
Great stuff thanks - losing 50 -100 seats is 3/1 . Not sure whether to punt on this as well of jut stick to 2/1 for under 50. ermm
I'd be surprised if the LDs lose less than 50 deposits, maybe if they get their vote share up to 15% or so. But if they stick at 8-12% like they are at the moment then we are stuck with the fact that they seem to be holding on to their voters in their 60 seats but still losing 10-12% nationwide. So either they will hold 40 seats but lose many deposits or the marginal polling and local elections are wrong (where they are losing few councillors in constituencies they hold). Personally I suspect the former. I wouldn't even write off them being killed off entirely in some areas (as they are being wiped out entirely in certain councils) and losing 100+ deposits.
Of course, the fact that the bet is so easily swayed in either direction by them gaining or losing a couple of percentage points nationally that it might be value to just bet on either 150+ or 50-.
Of course, the fact that the bet is so easily swayed in either direction by them gaining or losing a couple of percentage points nationally that it might be value to just bet on either 150+ or 50-.
Yes the extremes of the options are probably where the value is - I still think they will poll better than they are at the moment so under 50 for me
It looks like they're doing this the wrong way. Remember what I've said about such projects in the past: 1) Work out the problems (e.g. is there a capacity or speed problem north to Scotland?) 2) Work out ways of fixing the problems. 3) Work out the disadvantages of each solution. 4) Evaluate the solutions and pick the best one. 5) Decide whether to implement that solution (e.g. is is value for money). 6) Implement.
This has actually been done for HS2. What we need is an evaluation of the problems on the routes to Edinburgh / Scotland, and the ways to fix them. Shortcutting this by just going ahead with a HS route may not yield the best solution ...
For instance: could speed increases on the existing two routes, plus (say) reopening of the full Waverley yield more benefits to both countries?
If it is HS route, it's good to see that the work is being done in conjunction with the Scottish government.
A troubling misuse of power. As head of the Commonwealth it would have been good to see the UK Government respond to this despicable behaviour. Can't really do that now, can they...
A troubling misuse of power. As head of the Commonwealth it would have been good to see the UK Government respond to this despicable behaviour. Can't really do that now, can we...
That's what you get when you listen to luvvies more than common sense
Put him in your notebook. That looked a good performance.
They weren't donkeys behind, and if they can teach him to jump properly, he'll be a leading novice hurdler this season. I thought he might win but even I wasn't expecting that.
O/T but this was a cracking comment at the DT blogs today:
"I don't think it's quite fair to compare socialists with zombies.
One is an awful, shambling, nearly brain-dead creature that lives a parasitic existence. Lacking any means of fending for itself, its withered synapses retain only the instinct to predate on human beings in order to feed. A pest in small numbers, they quickly become a dangerous menace when in large swarms. Their eerie uniformity and constant moaning is chilling.
about a Rasmussen survey that shows Americans are split 37% each way on whether zombies would do a better or worse job of running government than the Government.
LOL - there was a great tweet from IIRC the QI Elves noting that the number of TV zombies we've seen so far would eat the entire human population in about a month...
A week after the Kenyan press published leaked video of soldiers looting the shopping mall after the siege, they're hit with draconian regulation.As head of the Commonwealth it would have been good to see the UK Government respond
I think you'll find we are but a member, no greater, nor lesser than any other country - tho looks like C4 will have a doc on Sunday evening which should embarrass the Sri Lankan govt - not that it will....oh, and
I've just finished working on today's racing cards and was about to put my fancies up at Pulpstar's request. None of them are outstanding, but I have backed them myself to small stakes - all each way unless stated otherwise. ......... And if that lot win, you'll hear my celebrations from wherever it is you live1
Good luck
Many thanks for this too Peter. Much appreciated. I'm following you on everything after 3pm because before that the liquid lunch was in full swing and access to the phone was limited. Knowing my luck the best of the picks were early in the afternoon
I've just finished working on today's racing cards and was about to put my fancies up at Pulpstar's request. None of them are outstanding, but I have backed them myself to small stakes - all each way unless stated otherwise. ......... And if that lot win, you'll hear my celebrations from wherever it is you live1
Good luck
Many thanks for this too Peter. Much appreciated. I'm following you on everything after 3pm because before that the liquid lunch was in full swing and access to the phone was limited. Knowing my luck the best of the picks were early in the afternoon
You ducked two losers and a short-priced winner, so not much damage either way... :-)
Wonder if Len really wants the independent inquiry he called for in July
“Simply a ‘stitch-up’ designed to produce some evidence, however threadbare, to justify pre-determined decisions taken in relation to Falkirk CLP.
“Even on the basis of this flimsy report, it is clear that these decisions cannot be justified. There is no emergency which would justify imposing these undemocratic restrictions, since any real problems could easily be addressed before embarking on a parliamentary selectionprocess.
“The report has been used to smear Unite and its members. Even if the allegations of people being signed up to the Party without their knowledge were true, this had nothing whatsoever to do with my union.
“It is noteworthy that members of the shadow cabinet have been in the lead in initiating this attack upon Unite. Have they had sight of this report while I, the leader of the union put in the frame, has not had the courtesy of a copy?
“The mishandling of this investigation has been a disgrace. I, however, am obliged to uphold the integrity of Unite, and I can no longer do so on the basis of going along with the activities of a Labour Party administration in which I can place no trust.
“I will therefore be publicly proposing that an independent inquiry be held into all circumstances relating to Falkirk CLP and the conduct of all parties involved, including Unite, the Labour Party centrally (including the Compliance Unit) and in Scotland, the officers of the CLP itself, and all those who have sought or are seeking nomination as the Labour PPC.
“Unite will cooperate fully with such an inquiry, and draw appropriate conclusions from any findings regarding our own behaviour. I trust that you will support such an inquiry, will direct all Labour Party employees to cooperate with it and encourage other individuals to do likewise.”
McCluskey was elected on the votes of less than 10% of his members. I imagine turnout was so poor because the alternative was SWP backed Jerry Hicks. What kind of a choice is that for any sane person?
Unless you are still in nappies you will never see it reach Scotland, there will be men on Mars before that. If we sit tight for 60 years or so we may see a benefit on teh 10% of it we will pay for. Yet another London centric vanity project.
Comments
Looks like another £38 billion down the plug hole.
"Just interviewed Chancellor. He reveals how difficult his relationship with RBS became over bank strategy before Hester left
Chancellor's main message is RBS has to be very British retail and commercial bank. Goodwin's global and investment bank ambitions killed"
Sounds like either Hester wanted 'bad bank' or to maintain global presence...or both.....
Meanwhile Ed Balls has nowt to say:
http://press.labour.org.uk/post/65681524519/after-firesales-of-royal-mail-and-northern-rock-we
Indeed, the relatively high end manufacturing that we need to compete in can't be turned on in an instant and since we were already struggling in manufacturing before the recession it will take time to really get growth going.
Still as today's Markit Manufacturing PMI showed, there are some positives.
"The UK manufacturing sector carried its strong third quarter performance into the final quarter of the year. October saw production and new orders both rise at rates above their respective long-run averages, leading to further job creation.
The domestic market remained a prime source of new contract wins, while growth of new export business accelerated on the back of improving global market conditions.
Total new orders also rose at a rate close to August’s 19-year peak, as new export business
increased at the quickest clip since February 2011.
Manufacturing employment rose for the sixth consecutive month in October.
The survey suggests manufacturing output is growing at a quarterly rate of around 1%-1.5%. "
http://www.markiteconomics.com/Survey/PressRelease.mvc/9620f11fc5c748d8aaf417b28e6f9b1b
"Soon afterwards I was encouraged to attend a residential course run by Unite to ‘educate’ those they felt may one day become a politician – as mad as the idea of my participation now sounds. The surroundings seemed a little odd for a trade union HQ. The huge mansion in Esher (“modelled on a French Chateau” as the Unite website describes it) was set amidst acres of sprawling Surrey countryside, slap bang in the middle of the banker belt. It was so posh I swear it took me a week to shower off the smell of quinoa. "
It may not be all gone though - NRK has seen an uptick in their recovery rates in their bad bank - helped by the economy improving obviously.
What RBS has done instead is to put the bad loans into a separate pocket to be worked out. They are going to look to exit them over time and in a way to maximise value for shareholders. They will also report on the basis of "core" numbers and hope to persuade the analysts not to focus on the bad stuff. Pros are that it is simple to do and should - in theory - maximise value for shareholders. Cons are that you don't release the capital upfront, you still need to allocate management resources to the work out teams, there's less opportunity for a 'fresh start' and, of course, shareholders (i.e. us) remain on the hook if it all goes wrong...
On balance it's probably the right decision to put it into a sidecar but not spin off.
The European Arrest Warrant is "flawed" and needs to be reformed, the Home Affairs Committee of MPs has said.
...
Committee chairman Keith Vaz said: "The European Arrest Warrant, in its existing form, is fundamentally flawed and has led to a number of miscarriages of justice with devastating consequences for those concerned.
"We welcome the government's proposed reforms, but are concerned that they do not go far enough.
"The House should be given the opportunity to vote separately on continued UK membership of the EAW as early as possible in order to provide a parliamentary mandate for any future negotiations."
.. which is what many Tory MPs have been saying, for a long while, to derision from the usual suspects, and from Labour.
http://www.bbc.co.uk/news/uk-politics-24766484
price of a banksy in London £300,000
price of the satisfaction of saying ' right get down this krap from my wall . I don't care what some pretentious arse and his pretentious and greedy followers/lackeys/ass lickers think they can do to my wall its rubbish and the wall looks better as it was' -PRICELESS
UKIP are really an English party trying to pretend that they are a Yookay party. Nobody is fooled. Not even their own members.
'Unite's leveraging stuff isn't winning over Labour Uncut contributors.'
http://labour-uncut.co.uk/2013/11/01/why-i’ve-left-unite/
Any comments from Ed on his paymaster's thugs?
http://www.bbc.co.uk/news/uk-wales-politics-24763988
I imagine this is more to do with politics in Scotland than in Wales, showing that the Coalition can devolve further powers without a gun to its head.
If you're so concerned with your XX chromosome, wouldn't taking £50 off the phallocentric, paternalistic bloke-ocracy be even more pleasurable?
Finally caught Greengrass' Captain Philips yesterday - very well done.
Wasn't it! The beginning was breathtaking and the casting unbelievable under the circumstances.
http://www.exeterexpressandecho.co.uk/Ed-Miliband-Water-companies-face-grilling/story-20017116-detail/story.html
"The Scotland Act 2012 gives the Scottish Parliament the power to set a Scottish rate of income tax to be administered by HM Revenue & Customs (HMRC) for Scottish taxpayers. It is expected to apply from April 2016. The Act also fully devolves the power to raise taxes on land transactions and on waste disposal to landfill – it is expected that this will take effect in April 2015, at which point the existing Stamp Duty Land Tax and Landfill Tax will not apply in Scotland. The Act also provides powers for new taxes to be created in Scotland and for additional taxes to be devolved."
http://www.hmrc.gov.uk/news/news-calman.htm
Whether & how they use them may be another matter entirely.....
With such a basic error I have no idea if the rest of the story is correct.
http://www.standard.co.uk/news/politics/ed-miliband-signals-water-firms-will-be-next-target-in-living-cost-push-8917499.html
"Asked to say unprompted what they considered the Scottish Parliament’s main achievements, two thirds mentioned the provision of free services. Most thought that taxes and borrowing in Scotland would rise if Holyrood were given full financial responsibility, but only 29% thought public services would improve."
The 2013 conference season was a draw. As the previous one was. And the next..."
http://www.totalpolitics.com/opinion/427327/labour-win-lose-draw.thtml
And the bosses looked at them, shrugged and said “Fine. We’re out of here.”
That is Labour’s business strategy writ large. Ed Miliband is striking his populist pose. Bashing the bankers. Bashing the tax avoiders. Bashing the energy companies. Trying to convince the voters he is on their side.
Meanwhile, the international business community is sitting there quietly. It’s watching. And it’s waiting."
http://blogs.telegraph.co.uk/news/danhodges/100244014/john-smith-and-neil-kinnock-understood-that-labour-cant-be-anti-business-ed-miliband-doesnt/?utm_source=dlvr.it&utm_medium=twitter
Also I just had a Labour party worker knock on my door asking me to sign a petition on energy prices. As I think it's a silly Brownian short-term stunt Miliband's playing on this I sent him away with a firm and clear 'no!', but is this something other people have come across? Seems a bit odd to me, given Osborne can shaft the whole ploy by shifting green taxes off energy bills into general taxation at the drop of an Autumn Statement (but then as I said, I lose most of my political bets...)
A Neil: So you're a Social Democrat?
O Jones: I'm a Democratic Socialist...
"It was famously derided at the time by Michael Heseltine, who mockingly told the House of Commons: “I hear wherever I go that the right honourable and learned gentleman has become a star attraction in the City. Lunch after lunch, dinner after dinner, the assurances flow. Not a discordant crumb falls on to the thick pile … All those prawn cocktails for nothing. Never have so many crustaceans died in vain. With all the authority I can command as Secretary of State for the Environment, let me say to the Right Honourable and learned member for Monklands East [John Smith], 'save the prawns'.”
The tories had the right idea when choosing Boris to push a fun cool type of London agenda . This strategy would need to be changed to a 'lets do the impossible' agenda if they had Coe running (excuse the pun)
It comes down to how much risk Thames Water is taking on for the construction costs (*), and how much they are passing straight on to the consumer ...
http://en.wikipedia.org/wiki/Thames_Tideway_Scheme
http://www.thamestidewaytunnel.co.uk/
But will Miliband actually propose something sensible thuis time?
(*) Unlike (say) a railway or a road, the TTS will not produce a meaningful direct or indirect income. It's billions spent just to further clear up the waters of the Thames.
"The new mathematics GCSE will be more demanding and we anticipate that schools will want to increase the time spent teaching mathematics," Gove said in a written statement to parliament announcing the changes on Friday.
An international survey of adult skills published last month found that 16- to 24-year-olds in England ranked 21st for numeracy out of 24 countries. Pupils in England were ranked 27th in maths in the international assessment known as Pisa conducted by the Organisation for Economic Co-operation and Development in 2009."
http://www.theguardian.com/education/2013/nov/01/new-gcse-curriculum-maths-more-demanding-michael-gove?CMP=twt_fd
I wonder if the Hon Hunt will oppose it, and if he does, how will we be able to tell?
"I don't think it's quite fair to compare socialists with zombies.
One is an awful, shambling, nearly brain-dead creature that lives a parasitic existence. Lacking any means of fending for itself, its withered synapses retain only the instinct to predate on human beings in order to feed. A pest in small numbers, they quickly become a dangerous menace when in large swarms. Their eerie uniformity and constant moaning is chilling.
The other is just a zombie."
It was in response to this blogpost http://blogs.telegraph.co.uk/news/nilegardiner/100243747/american-voters-have-as-much-faith-in-zombies-as-they-do-in-the-federal-government/
about a Rasmussen survey that shows Americans are split 37% each way on whether zombies would do a better or worse job of running government than the Government.
How many guesses do we need?
The correct odds for this depend on 3 or 4 events:
1) He doesn't get the IAAF top job in 2015 or doesn't go for it ~50% maybe
2) Boris Johnson doesn't run again 50% perhaps...
3) He runs and gets the nomination for CON 70% perhaps ?
3) His odds vs whoever is Labour contender. 45% maybe ?
All seems to add up pretty much to 16-1, but I'm really not sure
I think he is (Along with Boris maybe) on of only a few Conservatives that could beat Labour, he has alot of standing due to the success of the Games. The big two unknowns are does he get the IAAF top job and does Boris not stand again. In for a fiver anyways...
http://www.dailymail.co.uk/news/article-2483227/London-Edinburgh-just-THREE-hours-Now-HS2-extended-Scotland-slash-journey-times.html
http://www.railtechnologymagazine.com/Rail-News/hs2-scotland-extension-study-announced
And do they want it?
I bet more on the horses these days because of the lack of political markets but the latter are very lucrative when they come along. There's a bit of a lull at the moment but the US elections are getting interesting. We had a whole thread on that very recently, so I won't reprise, except to say that nothing has dissuaded me since from my view that Hillary is a good bet at 6/4 to be Democrat nominee but even better value is the 5/2 that the next US President will be female. (There are about four other plausible possibilities in addition to Hillary.)
The UK side is dull at present. Sadiq Khan at 12/1 is probably just about value in the London Mayor race. Nothing else worth mentioning.
I've just finished working on today's racing cards and was about to put my fancies up at Pulpstar's request. None of them are outstanding, but I have backed them myself to small stakes - all each way unless stated otherwise.
Wetherby
1.40 Glencree 16/1
2.45 Royal Irish Hussar 7/2 (win)
3.55 Cyrien Star 7/1
Uttoxeter
1.50 Another Flutter 10/3
Wolverhampton
6.25 Polar Forest 11/4 (win)
6.55 Oliver's Mount 5/1
7.55 Hanalei Bay 4/1
And if you had three shredded wheat for breakfast....
Dundalk
6.10 Knock Stars 10/1
6.40 Lightening Stricks 14/1
7.10 Precious Stone - 25/1
And if that lot win, you'll hear my celebrations from wherever it is you live1
Good luck
http://blogs.spectator.co.uk/coffeehouse/2013/09/water-companies-tax-dodging-is-beyond-the-pail/
Very welcome, Chuck.
You new(ish) here? Pleased to hear from you anyway.
F1: just tuned in and the commentators are saying that P2 is actually the most important, because the time (and conditions, from late afternoon to dusk) coincides with qualifying and the race, whereas P1 and P3 are earlier and hotter, so less useful.
yes and I would be grateful for the answer if you have it?
I actually like the two favorites in that race, silver Dragon and Cleve Cottage, but Cyrien looked better at the prices. It has been supported.
Of those 50, 28 are in Scotland...
http://www.dailymail.co.uk/news/article-2483430/Now-Cameron-orders-action-water-bills-seize-control-row-rising-cost-living-Labour.html
"We are socialists, we are enemies of today’s capitalistic economic system for the exploitation of the economically weak, with its unfair salaries, with its unseemly evaluation of a human being according to wealth and property instead of responsibility and performance."
Obviously I have disregarded NI and the Speaker where they didn't stand.
"MrBishi • 16 minutes ago −
George Osborne is desperate to sell some more UK assets at 50% below their value in order to give him a treasure chest to give away just before the next election.
I wouldn't be surprised to hear that he is negotiating to sell Scotland to the Chinese."
Do you think it could be arranged, pre-referendum?
1) Work out the problems (e.g. is there a capacity or speed problem north to Scotland?)
2) Work out ways of fixing the problems.
3) Work out the disadvantages of each solution.
4) Evaluate the solutions and pick the best one.
5) Decide whether to implement that solution (e.g. is is value for money).
6) Implement.
This has actually been done for HS2. What we need is an evaluation of the problems on the routes to Edinburgh / Scotland, and the ways to fix them. Shortcutting this by just going ahead with a HS route may not yield the best solution ...
For instance: could speed increases on the existing two routes, plus (say) reopening of the full Waverley yield more benefits to both countries?
If it is HS route, it's good to see that the work is being done in conjunction with the Scottish government.
A troubling misuse of power. As head of the Commonwealth it would have been good to see the UK Government respond to this despicable behaviour. Can't really do that now, can they...
Better a savage press than a tame one.
Put him in your notebook. That looked a good performance.
They weren't donkeys behind, and if they can teach him to jump properly, he'll be a leading novice hurdler this season. I thought he might win but even I wasn't expecting that.
This from Shaun of the Dead seems fitting
http://www.youtube.com/watch?v=yfDUv3ZjH2k
NEW THREAD
http://blogs.spectator.co.uk/coffeehouse/2013/11/nigel-farage-wins-the-spectators-hs2-debate-but-will-the-green-belt-be-destroyed/
http://labourlist.org/2013/07/unites-len-mccluskey-writes-to-labour-general-secretary-iain-mcnicol-and-calls-for-an-independent-inquiry/