politicalbetting.com » Blog Archive » Sentence first, verdict later. Rushing to judgement over BH
Options
politicalbetting.com » Blog Archive » Sentence first, verdict later. Rushing to judgement over BHS
Sir Philip Green potentially makes for a good pantomime villain. He has never gone out of his way to charm the public and he has contacts in elite political circles. His wealth is fabulous and flaunted. His tax management strategies have blazed across the front pages of the newspapers. And now his former flagship company BHS has gone bust, leaving a pension scheme that is half a billion pou…
0
Comments
-
Fascinating.0
-
FPT
'@HurstLlama
"Take a family with 2 parents and two school age kids.
How much do they have to earn to pay enough tax to be a nett contributor?"
The figure for your example is around £35,00 - £ 37,000.gross salary.
'How much we give the state in tax – and how much we get back ...
www.telegraph.co.uk › Finance › Personal Finance › Tax
15 Feb 2014 - Benefits Britain: how much do you pay in, and how much do you get ... out of about 30 million income tax payers, paid 30pc of all income tax. ... who are net contributors to the state and who are the net beneficiaries. ..... And people with a household income of £10,300 draw out a net amount of £9,539, giving ...
Flag Quote · Off Topic0 -
Following a remain vote , all pensions schemes will immediately return to a surplus and everybody can retire at 22
On a Brexit, everyone will be dead anyway so it won't matter.0 -
Surely noone is offering final or even any sort of DB pension scheme any more ?0
-
Another load of bollocks!0
-
I say; "unless Sir Philip Green gives me his yacht with all it's trimmings", hes guilty.0
-
My CARE pension is being stopped in a couple of years0
-
@iainjwatson: On @BBCNews at 1 shortly Nigel Farage says Vote Leave are 'stupid' by trying to exclude him from the same ITV EU programme as the PM0
-
As a self employed person of 30 years I feel guilty about taking the time to read this (I didn't, its a boring subject) but I feel obliged to get to work and pay taxes to fund public sector pensions.0
-
An amazing act of profligacy to our future that the entire public sector wasn't put onto DC schemes. By definition what is in those schemes, is well in those schemes.Sandpit said:
Only in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
The assumptions that DB schemes were built on are a house built on latterly discovered sand.0 -
There is no public sector fund, if there was it would amount to £trillions, its a giant ponzi scheme0
-
I can't imagine for a moment why they want to keep this guy off the telly...
@iainjwatson: And @Nigel_Farage told me that Vote Leave's 'unelected apparatchiks' who want to get in no10 themselves are trying to 'darken his name'0 -
Good article, as one would expect.
The substantive questions for Sir Philip do not IMO relate anything done pre-2008. It's hard to argue with an actuarial surplus, and indeed the taxman sometimes claims that companies 'over-funding' their pension schemes are engaged in a form of tax-avoidance. That's why a lot of companies in the 1990s were forced to suspend pension contributions, which in retrospect was a disaster.0 -
Paddy Hennessy successfully convinced his mates in the Lobby that Gani was actually a Tory and not a Labour supporter – mainly on the basis of a selfie with a clueless Zac. The truth, as the video above shows, is that Gani is an Islamo-Socialist Labour supporter who vocally backed Corbyn for the leadership.
http://order-order.com/2016/05/12/well-played-paddy/
I guess he could have been a Tory for Corbyn, but I somehow doubt it.0 -
I'm enjoying this so much - http://www2.politicalbetting.com/index.php/archives/2011/01/04/plato-becomes-the-poster-of-the-year-by-just-one-vote/SeanT said:Vapid bilge.
Next.
I never claimed to be some superior life form. And never expected five years on to point this out.
It's hilarious.
Those who denigrate us are so out of touch.0 -
Are bookies offering odds on Green being locked up?
This is just another case of us not being nearly as rich as we think we are. As Mr Meeks suggests, it is just the tip of the iceberg that HMS Great Britain is on collision course with. And George Osborne is at the wheel.0 -
I agree somewhat with AM.
The "court of public opinion" to which Sir Philip is currently being subjected has become too OTT.
Sir Cliff is another person that's currently being subjected to trial by social media, judging by the comments that were popping up on my timeline's the other night.0 -
Thanks, Mr. Zims, some figures there that, though out of date, hint at the scale of the problem.john_zims said:FPT
'@HurstLlama
"Take a family with 2 parents and two school age kids.
How much do they have to earn to pay enough tax to be a nett contributor?"
The figure for your example is around £35,00 - £ 37,000.gross salary.
'How much we give the state in tax – and how much we get back ...
www.telegraph.co.uk › Finance › Personal Finance › Tax
15 Feb 2014 - Benefits Britain: how much do you pay in, and how much do you get ... out of about 30 million income tax payers, paid 30pc of all income tax. ... who are net contributors to the state and who are the net beneficiaries. ..... And people with a household income of £10,300 draw out a net amount of £9,539, giving ...
Flag Quote · Off Topic0 -
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.0 -
The biggest lie ever is that we need immigration to support an ageing population - well what about when the immigrants live longer too?tlg86 said:Are bookies offering odds on Green being locked up?
This is just another case of us not being nearly as rich as we think we are. As Mr Meeks suggests, it is just the tip of the iceberg that HMS Great Britain is on collision course with. And George Osborne is at the wheel.
The public sector pension bubble has to burst eventually, there are millions of people collecting £billions every year, both numbers are increasing. It is unsustainable.0 -
Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i0 -
Members of Parliament, the Civil Service (at home and the EU), the Police, the NHS, Local Government, Teachers ....Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
Get the idea?0 -
Damn - thought it was about the old VHS tapes 0
-
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.0 -
Breaking News: Leicester City's legendary scouting team have signed Croatian midfielder Vapid Bilge as cover for their upcoming European campaign.0
-
blackburn63 said:
The biggest lie ever is that we need immigration to support an ageing population - well what about when the immigrants live longer too?tlg86 said:Are bookies offering odds on Green being locked up?
This is just another case of us not being nearly as rich as we think we are. As Mr Meeks suggests, it is just the tip of the iceberg that HMS Great Britain is on collision course with. And George Osborne is at the wheel.
The public sector pension bubble has to burst eventually, there are millions of people collecting £billions every year, both numbers are increasing. It is unsustainable.
0 -
Good afternoon, everyone.0
-
The BBC will be able to trial an additional subscription service to ensure that those watching hit shows outside the 30-day catch up window are made to pay extra.
http://www.dailymail.co.uk/news/article-3586462/Half-million-BBC-iPlayer-free-riders-pay-licence-fee-classic-shows-pay-view.html0 -
On topic, good article. A few quick comments.
If Green didn't want to be splatted in the press and parliament, he should have paid more attention to (1) his image and (2) his company.
Some members of the committee are grandstanding but to some extent that is part of their job - to hold the mighty to account on behalf of the public.
But the committee is itself held to account, in the press, in articles like Alastair's and by other politicians. The public has a sense of fair play about these things and if it looks like it's acting as a kangaroo court then it's the politicians on it who'll suffer.
And yes, it is looking at things in hindsight but when pension schemes have to last decades then that's fair enough: the system should be able to cope with once-in-50-year events.0 -
frpenkridge said:
Breaking News: Leicester City's legendary scouting team have signed Croatian midfielder Vapid Bilge as cover for their upcoming European campaign.
0 -
What's so bad about breaking up the treasury?Scott_P said:Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i
It's a HUGE government department and seems to be used as spring board for voter repellent politicians (Brown, Osborne) to try and destroy their parties?
Surely in these times of "austerity" there should be no, no go areas in trying to save some money for the national purse?0 -
There's been a huge reduction in the generosity of the civil service pension scheme for new joiners - even if it remains defined benefit.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.0 -
Duncan Smith says the average age of personnel at the treasury is 27.Scott_P said:Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i
If that claim is true, its rather alarming.0 -
Not surprised at all. The whole civil service is young.taffys said:
Duncan Smith says the average age of personnel at the treasury is 27.Scott_P said:Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i
If that claim is true, its rather alarming.0 -
Only DC schemes can do that I think.david_herdson said:
And yes, it is looking at things in hindsight but when pension schemes have to last decades then that's fair enough: the system should be able to cope with once-in-50-year events.0 -
Excellent thread Mr Meeks. Balanced and informative, as to be expected from a pensions expert. Reminded me of how the broad sheets used to report stuff.
As a foot note, old(ish) but still relevant.
BBC forced to pay £740m into pension scheme as deficit soars to £2bn
http://www.theguardian.com/media/2014/jan/15/bbc-pension-scheme-deficit-licence-fee
0 -
So pension schemes, overseen by the Pensions Regulator, have been seeking to get to full funding over appropriate timespans, having regard to the strength of their sponsoring employer. The art is to get the schemes as secure as possible as quickly as possible without crippling their employer’s business.
This sounds like the deficit the Chancellor inherited in 2010, his task being to reduce it as quickly as possible while still maintaining some growth in the economy. As we have seen in the past six years that is way more difficult in practice than in theory!
It will be interesting to look at the effect on the share price and dividend levels of blue chip companies forced to account for future liabilities, lots of their shares being owned by private pension funds.0 -
They (or more precisely the coalition) have done a lot, as Neil, late of this parish, used to point out quite often. As well as the switch from RPI to CPI (which makes a big difference long-term), they've raised retirement ages and increased employee contributions.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.
Of course, public-sector pensions remain fantastically generous compared with what those of us who have to fund our own pensions can expect.0 -
My point is, only a DC scheme is fundamentally "correct" with respect to the contributions/eventual out-takes. A DB scheme may indeed become less generous if the market really takes off or some such close to retirement !Richard_Nabavi said:
They (or more precisely the coalition) have done a lot, as Neil, late of this parish, used to point out quite often. As well as the switch from RPI to CPI (which makes a big difference long-term), they've raised retirement ages and increased employee contributions.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.
Of course, public-sector pensions remain fantastically generous compared with what those of us who have to fund our own pensions can expect.
Edit:
In fact isn't a pension scheme in actuarial surplus (If the actuarial assumptions are correct being less generous than a DC scheme ?)0 -
Yes. Don't some councils spend 25% of their entire budget on people who don't work there anymore, based on calculations from decades ago of retiring at 55 and being dead at 65, when life expectancy is now over 80?blackburn63 said:There is no public sector fund, if there was it would amount to £trillions, its a giant ponzi scheme
0 -
No wonder government makes such a cuck up of things so reguarly. And I'm saying this as a twenty year old.TheWhiteRabbit said:
Not surprised at all. The whole civil service is young.taffys said:
Duncan Smith says the average age of personnel at the treasury is 27.Scott_P said:Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i
If that claim is true, its rather alarming.0 -
True. Indeed part of the problem is that an actuarial 'surplus' can swing massively into deficit (or vice versa) simply because of changed assumptions about unknown future interest rates. It will be this that has hit the BHS fund, I imagine.Pulpstar said:
My point is, only a DC scheme is fundamentally "correct" with respect to the contributions/eventual out-takes. A DB scheme may indeed become less generous if the market really takes off or some such close to retirement !Richard_Nabavi said:
They (or more precisely the coalition) have done a lot, as Neil, late of this parish, used to point out quite often. As well as the switch from RPI to CPI (which makes a big difference long-term), they've raised retirement ages and increased employee contributions.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.
Of course, public-sector pensions remain fantastically generous compared with what those of us who have to fund our own pensions can expect.0 -
Bear in mind that the 2010-15 govt wasn't a Tory one. But short of another major recession, I can't see any government going near: the political pain will simply be too high.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.0 -
Everton sack Roberto Martinez0
-
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
0 -
This is the issue I have. Anyone who has set foot in a BHS over the last 15 years can tell it's had zero investment; zero plan of what it is trying to be. I've always been confused at this considering Arcadia's reputation. Now we find out it was simply being sucked dry. For me this isn't about whether regulation could have forced Sir Phillip to spare a bit more for a rainy day, it's about crude asset stripping and what, if anything, can be done about it.david_herdson said:On topic, good article. A few quick comments.
If Green didn't want to be splatted in the press and parliament, he should have paid more attention to (1) his image and (2) his company.
0 -
Isn't he waiting it out for the Arsenal job next year?Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
0 -
They could make a serious fortune offering subscriptions to overseas viewers, if they had the gumptions to do it. Hopefully the login development can be a platform for future subscription based viewing.FrancisUrquhart said:The BBC will be able to trial an additional subscription service to ensure that those watching hit shows outside the 30-day catch up window are made to pay extra.
http://www.dailymail.co.uk/news/article-3586462/Half-million-BBC-iPlayer-free-riders-pay-licence-fee-classic-shows-pay-view.html0 -
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
0 -
At my children's' primary school, the star of the week award does not go to the best and brightest but to those which need encouragement and incentivisation. Just an observation.Plato_Says said:
I'm enjoying this so much - http://www2.politicalbetting.com/index.php/archives/2011/01/04/plato-becomes-the-poster-of-the-year-by-just-one-vote/SeanT said:Vapid bilge.
Next.
I never claimed to be some superior life form. And never expected five years on to point this out.
It's hilarious.
Those who denigrate us are so out of touch.0 -
FPT @TheScreamingEagles
So you mean one standard for the Remainers and a lower standard for the Leavers.
No, there are three standards.
1. For normal PB-ers
2. For regular thread writers, editors, @rcs1000, OGH - people should be held to a higher standard because of the role that they play in the community
3. For @malcolmg0 -
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
0 -
Interesting article and a welcome change of subject.0
-
I'm going to ignore the implication, and instead remark on the stupidity of such a system.matt said:
At my children's' primary school, the star of the week award does not go to the best and brightest but to those which need encouragement and incentivisation. Just an observation.Plato_Says said:
I'm enjoying this so much - http://www2.politicalbetting.com/index.php/archives/2011/01/04/plato-becomes-the-poster-of-the-year-by-just-one-vote/SeanT said:Vapid bilge.
Next.
I never claimed to be some superior life form. And never expected five years on to point this out.
It's hilarious.
Those who denigrate us are so out of touch.
The whole point of the star is to be an incentive. Be/do better and you might get a star. Not be a shrinking violet who needs a boost and you might get a star.
My prep school teachers would not have put up with such guff.0 -
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
0 -
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
0 -
I suppose. Plus nobody wants to work in Jürgen Klopp's shadow.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
0 -
I should charge for those comments of mine which tee up your slam dunks.TheScreamingEagles said:
I suppose. Plus nobody wants to work in Jürgen Klopp's shadow.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
0 -
WATmatt said:
At my children's' primary school, the star of the week award does not go to the best and brightest but to those which need encouragement and incentivisation. Just an observation.Plato_Says said:
I'm enjoying this so much - http://www2.politicalbetting.com/index.php/archives/2011/01/04/plato-becomes-the-poster-of-the-year-by-just-one-vote/SeanT said:Vapid bilge.
Next.
I never claimed to be some superior life form. And never expected five years on to point this out.
It's hilarious.
Those who denigrate us are so out of touch.0 -
On topic - thanks for this detailed argument.
The witch hunt trial by media system we have at the moment must stop at some point. I wonder what might precipitate it....0 -
Thank God! A new thread - and an interesting one, too. Thank you Mr Meeks.
(The last one was awfully bad-tempered. Another 6 weeks of this is too much. I will probably take a break from PB and hope everyone calms down a bit. It won't be Armageddon, whatever the result of the EU referendum. And the Chilcott report - vapid bilge as it may be - should be fun.
) 0 -
Liverpool's season boils down to the next two matches. Shit or bust !TheScreamingEagles said:
I suppose. Plus nobody wants to work in Jürgen Klopp's shadow.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
One good thing about Klopp is that he's clearly prioritised winning a trophy over a couple of league positions.
Who is going to remember that Arsenal qualified and got knocked out of the Champ's league for the 100th time in 2147 ?0 -
For the first time in years, I'm actually feeling quiet confident about next season.Mortimer said:
I should charge for those comments of mine which tee up your slam dunks.TheScreamingEagles said:
I suppose. Plus nobody wants to work in Jürgen Klopp's shadow.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
Upgraded stadium, Klopp's stellar quality, hopefully champions league football and FSG supporting Klopp in the transfer market, I can feel it in my waters.0 -
No Gerrard to trip up against Chelsea either.TheScreamingEagles said:
For the first time in years, I'm actually feeling quiet confident about next season.Mortimer said:
I should charge for those comments of mine which tee up your slam dunks.TheScreamingEagles said:
I suppose. Plus nobody wants to work in Jürgen Klopp's shadow.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
Upgraded stadium, Klopp's stellar quality, hopefully champions league football and FSG supporting Klopp in the transfer market, I can feel it in my waters.0 -
I think PBers should go into a racing syndicate. Put a nice 2yr old somewhere. Called Vapid Bilge.Cyclefree said:Thank God! A new thread - and an interesting one, too. Thank you Mr Meeks.
(The last one was awfully bad-tempered. Another 6 weeks of this is too much. I will probably take a break from PB and hope everyone calms down a bit. It won't be Armageddon, whatever the result of the EU referendum. And the Chilcott report - vapid bilge as it may be - should be fun. )0 -
Yup and he's done it with someone's else squad.Pulpstar said:
Liverpool's season boils down to the next two matches. Shit or bust !TheScreamingEagles said:
I suppose. Plus nobody wants to work in Jürgen Klopp's shadow.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
One good thing about Klopp is that he's clearly prioritised winning a trophy over a couple of league positions.
Who is going to remember that Arsenal qualified and got knocked out of the Champ's league for the 100th time in 2147 ?
In August if you had told me that Liverpool's defence at the end of the season would have been Lovren and Toure, I would have cried.0 -
Idea of the day!TOPPING said:
I think PBers should go into a racing syndicate. Put a nice 2yr old somewhere. Called Vapid Bilge.Cyclefree said:Thank God! A new thread - and an interesting one, too. Thank you Mr Meeks.
(The last one was awfully bad-tempered. Another 6 weeks of this is too much. I will probably take a break from PB and hope everyone calms down a bit. It won't be Armageddon, whatever the result of the EU referendum. And the Chilcott report - vapid bilge as it may be - should be fun. )0 -
I have two ex-Treasury lads among my colleagues. They both tell me regularly how little work they used to do there. A lot of the young staff there are intent on just getting in a few years' 'experience' to put on their CV.taffys said:
Duncan Smith says the average age of personnel at the treasury is 27.Scott_P said:Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i
If that claim is true, its rather alarming.
Another former colleague went back to the Treasury for exactly the same reason, ie to do less work.0 -
I'm with you on that. Especially if we win the UEFA cup and get into the CL next year.TheScreamingEagles said:
For the first time in years, I'm actually feeling quiet confident about next season.Mortimer said:
I should charge for those comments of mine which tee up your slam dunks.TheScreamingEagles said:
I suppose. Plus nobody wants to work in Jürgen Klopp's shadow.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
Upgraded stadium, Klopp's stellar quality, hopefully champions league football and FSG supporting Klopp in the transfer market, I can feel it in my waters.0 -
I'd be up for that. I come from a racing family. Our family sponsored a race at Punchestown for many years; my grandfather bred horses and another relative is one of Ireland's finest trainers.TOPPING said:
I think PBers should go into a racing syndicate. Put a nice 2yr old somewhere. Called Vapid Bilge.Cyclefree said:Thank God! A new thread - and an interesting one, too. Thank you Mr Meeks.
(The last one was awfully bad-tempered. Another 6 weeks of this is too much. I will probably take a break from PB and hope everyone calms down a bit. It won't be Armageddon, whatever the result of the EU referendum. And the Chilcott report - vapid bilge as it may be - should be fun. )
I'd far rather be at a racecourse somewhere on a day like this than stuck in an office working out whether some nitwit is trying to bypass trading controls. Again.
0 -
All the Treasury economists I know are hard working, but many do contemplate life outside the civil service.runnymede said:
I have two ex-Treasury lads among my colleagues. They both tell me regularly how little work they used to do there. A lot of the young staff there are intent on just getting in a few years' 'experience' to put on their CV.taffys said:
Duncan Smith says the average age of personnel at the treasury is 27.Scott_P said:Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i
If that claim is true, its rather alarming.
Another former colleague went back to the Treasury for exactly the same reason, ie to do less work.
In that respect the civil service is like big graduate recruiters like magic circle law firms or big four accountants/consultancy firms, with a very significant staff turnover and a pyramid with a wide base as a result.
0 -
Off for a session manning the Good Ship pb.com's vapid bilge pumps.
Laters.0 -
Vapid Bilge = Give Bad Lip0
-
On a risk adjusted basis, I don't think you can ever argue that DB is less generous than DC.Pulpstar said:
My point is, only a DC scheme is fundamentally "correct" with respect to the contributions/eventual out-takes. A DB scheme may indeed become less generous if the market really takes off or some such close to retirement !Richard_Nabavi said:
They (or more precisely the coalition) have done a lot, as Neil, late of this parish, used to point out quite often. As well as the switch from RPI to CPI (which makes a big difference long-term), they've raised retirement ages and increased employee contributions.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.
Of course, public-sector pensions remain fantastically generous compared with what those of us who have to fund our own pensions can expect.
Edit:
In fact isn't a pension scheme in actuarial surplus (If the actuarial assumptions are correct being less generous than a DC scheme ?)0 -
Why not? Your defined benefit could be contribute 50% of your salary and receive 1/1000th of your average salary per year of contributions. That would be obviously less generous than a DC scheme.Charles said:
On a risk adjusted basis, I don't think you can ever argue that DB is less generous than DC.Pulpstar said:
My point is, only a DC scheme is fundamentally "correct" with respect to the contributions/eventual out-takes. A DB scheme may indeed become less generous if the market really takes off or some such close to retirement !Richard_Nabavi said:
They (or more precisely the coalition) have done a lot, as Neil, late of this parish, used to point out quite often. As well as the switch from RPI to CPI (which makes a big difference long-term), they've raised retirement ages and increased employee contributions.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.
Of course, public-sector pensions remain fantastically generous compared with what those of us who have to fund our own pensions can expect.
Edit:
In fact isn't a pension scheme in actuarial surplus (If the actuarial assumptions are correct being less generous than a DC scheme ?)0 -
True, but it's worth remembering that the Europa League is UEFA's answer to the Paint Pot Trophy.Pulpstar said:
Liverpool's season boils down to the next two matches. Shit or bust !TheScreamingEagles said:
I suppose. Plus nobody wants to work in Jürgen Klopp's shadow.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
One good thing about Klopp is that he's clearly prioritised winning a trophy over a couple of league positions.
Who is going to remember that Arsenal qualified and got knocked out of the Champ's league for the 100th time in 2147 ?
Wouldn't it be brilliant if winning the Paint Pot Trophy got you promotion to the Championship?0 -
Don't forget that Arcadia was always kept separate from BHS with a very different strategy.Luckyguy1983 said:
This is the issue I have. Anyone who has set foot in a BHS over the last 15 years can tell it's had zero investment; zero plan of what it is trying to be. I've always been confused at this considering Arcadia's reputation. Now we find out it was simply being sucked dry. For me this isn't about whether regulation could have forced Sir Phillip to spare a bit more for a rainy day, it's about crude asset stripping and what, if anything, can be done about it.david_herdson said:On topic, good article. A few quick comments.
If Green didn't want to be splatted in the press and parliament, he should have paid more attention to (1) his image and (2) his company.
BHS was initially a stepping stone, but fundamentally was a cash cow - there was no longer a niche in the market for it (pace Woolies) - it was squeezed between the discounters and the slightly more upmarket likes of Zara Home and M&S.0 -
The actuarial assumptions are overgenerous if that is the case.Charles said:
On a risk adjusted basis, I don't think you can ever argue that DB is less generous than DC.Pulpstar said:
My point is, only a DC scheme is fundamentally "correct" with respect to the contributions/eventual out-takes. A DB scheme may indeed become less generous if the market really takes off or some such close to retirement !Richard_Nabavi said:
They (or more precisely the coalition) have done a lot, as Neil, late of this parish, used to point out quite often. As well as the switch from RPI to CPI (which makes a big difference long-term), they've raised retirement ages and increased employee contributions.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.
Of course, public-sector pensions remain fantastically generous compared with what those of us who have to fund our own pensions can expect.
Edit:
In fact isn't a pension scheme in actuarial surplus (If the actuarial assumptions are correct being less generous than a DC scheme ?)0 -
I've worked in the Treasury.taffys said:
Duncan Smith says the average age of personnel at the treasury is 27.Scott_P said:Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i
If that claim is true, its rather alarming.
It is true.0 -
Just sticking my head back in, as it were, to say Vapid Bilge also has a troubling anagram for David Cameron: Pig-lad vibe.....Sunil_Prasannan said:Vapid Bilge = Give Bad Lip
0 -
Errrh Everton or Bournemouth, let me see.Mortimer said:
Look into his history. He basically IS AFCB.TheScreamingEagles said:
He's an Everton fan. The new Everton shareholder has money that does make Everton a bit more attractive.Mortimer said:
No way he leaves Bournemouth.TheScreamingEagles said:
I've heard rumours that they might go for Eddie Howe.Pulpstar said:
Van de Van de Boer de Ajax man incoming I assume.TheScreamingEagles said:Everton sack Roberto Martinez
Great move for Howe, no idea if it will happen0 -
It needed (needs?) a new raison d'etre certainly.Charles said:
Don't forget that Arcadia was always kept separate from BHS with a very different strategy.Luckyguy1983 said:
This is the issue I have. Anyone who has set foot in a BHS over the last 15 years can tell it's had zero investment; zero plan of what it is trying to be. I've always been confused at this considering Arcadia's reputation. Now we find out it was simply being sucked dry. For me this isn't about whether regulation could have forced Sir Phillip to spare a bit more for a rainy day, it's about crude asset stripping and what, if anything, can be done about it.david_herdson said:On topic, good article. A few quick comments.
If Green didn't want to be splatted in the press and parliament, he should have paid more attention to (1) his image and (2) his company.
BHS was initially a stepping stone, but fundamentally was a cash cow - there was no longer a niche in the market for it (pace Woolies) - it was squeezed between the discounters and the slightly more upmarket likes of Zara Home and M&S.0 -
Civil servant pensions are super duper. Unless you are senior. Up to a salary of £108k you are right. Over that and the tax becomes a joke (lifetime allowance on pensions value increases - taxed at 55% and annual allowance). Senior civil servants can be financially worse off by getting promoted!0
-
Speaking as a pure amateur on this topic, the trouble with any pensions system is three-fold:-
1. It's long-term. People are not encouraged to think of the future. Everything is "now, now, now".
2. Politicians will insist on meddling and changing the rules all the time. Most unfair. Punishes the sensible. Encourages cynicism and disincentivises long-term behaviour.
3. People hugely underestimate how much they should be saving at every stage of their lives, even where they have money to save.
No idea how to change this. The whole economy sometimes seems to be based around people spending money on tat rather than saving sensibly and only buying stuff they need and good stuff at that. Never mind the government: a period of sober austerity by people would be welcome IMO. They could spend a bit more money properly looking after their homes (a walk round many London streets will show the most awful neglect outside with some big F*** Off telly inside) and less on buying rags from Primark.
And since I'm in a Victor Meldrew-ish mood, people really should take a bit of care over their front gardens. Greening and tidying them up a bit would do wonders for the environment and the rest of us wouldn't have to stare at eyesores.
When I am Dictatoresse people will be expected to dress nicely in public ..... and not do their toilette on the tube, either.0 -
On topic, what I think of Philip Green is unprintable.
But I'm not sure what the point of the thread is - I just want the Government to leave my pension alone.0 -
That's probably true. Having "treasury experience" on one's CV opens up a lot of doors early on in one's career.taffys said:
Duncan Smith says the average age of personnel at the treasury is 27.Scott_P said:Not a nutter...
@patrickwintour: Break up the Treasury, says Iain Duncan Smith https://t.co/p99i4Nfz3i
If that claim is true, its rather alarming.0 -
Sorry. within the parameters of the typical DB scheme.TheWhiteRabbit said:
Why not? Your defined benefit could be contribute 50% of your salary and receive 1/1000th of your average salary per year of contributions. That would be obviously less generous than a DC scheme.Charles said:
On a risk adjusted basis, I don't think you can ever argue that DB is less generous than DC.Pulpstar said:
My point is, only a DC scheme is fundamentally "correct" with respect to the contributions/eventual out-takes. A DB scheme may indeed become less generous if the market really takes off or some such close to retirement !Richard_Nabavi said:
They (or more precisely the coalition) have done a lot, as Neil, late of this parish, used to point out quite often. As well as the switch from RPI to CPI (which makes a big difference long-term), they've raised retirement ages and increased employee contributions.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.
Of course, public-sector pensions remain fantastically generous compared with what those of us who have to fund our own pensions can expect.
Edit:
In fact isn't a pension scheme in actuarial surplus (If the actuarial assumptions are correct being less generous than a DC scheme ?)
Obviously.0 -
Eddie Howe is 33/1 to be the next Everton manager with publicity shy Paddy Power
http://www.paddypower.com/football/football-specials/manager-specials?ev_oc_grp_ids=12338670 -
POINTLESS NUMBER CRUNCHING
To give my earlier post about Turnout-to-SNP vote a bit of context
Of the top 10 Constituencies by Turnout
3 SNP Wins
7 SNP Losses
Turnout ranges from 68.3% to 61.3%, National Turnout was 55.1%0 -
It begs an interesting question. Had final salary schemes not been so overly generous (in terms of contribution rate and benefit) would the private sector ever have switched over?Charles said:
Sorry. within the parameters of the typical DB scheme.TheWhiteRabbit said:
Why not? Your defined benefit could be contribute 50% of your salary and receive 1/1000th of your average salary per year of contributions. That would be obviously less generous than a DC scheme.Charles said:
On a risk adjusted basis, I don't think you can ever argue that DB is less generous than DC.Pulpstar said:
My point is, only a DC scheme is fundamentally "correct" with respect to the contributions/eventual out-takes. A DB scheme may indeed become less generous if the market really takes off or some such close to retirement !Richard_Nabavi said:
They (or more precisely the coalition) have done a lot, as Neil, late of this parish, used to point out quite often. As well as the switch from RPI to CPI (which makes a big difference long-term), they've raised retirement ages and increased employee contributions.Pulpstar said:
It's the sort of stuff you'd expect a Tory government to get a proper grip on !david_herdson said:
Plenty in the public sector.Pulpstar said:Surely noone is offering final or even any sort of DB pension scheme any more ?
A few remain in the private sector though nearly all (possibly all - anyone know?) will be closed to new entrants.
If the government really wanted to get to grips with the deficit, this would be a good place to act. The problem is that the political cost is all up front whereas the benefit, though substantial, only increments over decades.
Of course, public-sector pensions remain fantastically generous compared with what those of us who have to fund our own pensions can expect.
Edit:
In fact isn't a pension scheme in actuarial surplus (If the actuarial assumptions are correct being less generous than a DC scheme ?)
Obviously.
There is a good case that employers more easily bear the risk premium here.0 -
Can I suggesy you engage snipers to shoot pedestrians gawping at their mobile phones in central London WHEN THEY SHOULD BE LOOKING AT WHERE THEY ARE WALKING?Cyclefree said:Speaking as a pure amateur on this topic, the trouble with any pensions system is three-fold:-
1. It's long-term. People are not encouraged to think of the future. Everything is "now, now, now".
2. Politicians will insist on meddling and changing the rules all the time. Most unfair. Punishes the sensible. Encourages cynicism and disincentivises long-term behaviour.
3. People hugely underestimate how much they should be saving at every stage of their lives, even where they have money to save.
No idea how to change this. The whole economy sometimes seems to be based around people spending money on tat rather than saving sensibly and only buying stuff they need and good stuff at that. Never mind the government: a period of sober austerity by people would be welcome IMO. They could spend a bit more money properly looking after their homes (a walk round many London streets will show the most awful neglect outside with some big F*** Off telly inside) and less on buying rags from Primark.
And since I'm in a Victor Meldrew-ish mood, people really should take a bit of care over their front gardens. Greening and tidying them up a bit would do wonders for the environment and the rest of us wouldn't have to stare at eyesores.
When I am Dictatoresse people will be expected to dress nicely in public ..... and not do their toilette on the tube, either.0 -
Well said Cyclefree. The problem is that to encourage saving and a responsible attitude to providing for one's future requires the government to ensure savers get some return. Today they don't. Pensions and annuities are woeful because there is no return. There is no return because we are woefully overborrowed and can't let interest rates rise. It is moral hazard. To avoid systemic collapse we must protect the profligate and punish the thrifty. The whole basis of our economic model has been traduced. It won't end well.0
-
Mum won Redbridge in Bloom last year for her front gardenCyclefree said:And since I'm in a Victor Meldrew-ish mood, people really should take a bit of care over their front gardens. Greening and tidying them up a bit would do wonders for the environment and the rest of us wouldn't have to stare at eyesores.
.
(I chipped in with some watering...occasionally 0 -
And I'd like to put in a request for banning of tattoos on women, the banning of piercings on everyone, and a mandatory death-sentence for cyclists who jump lights when pedestrians are crossing.taffys said:Can I suggesy you engage snipers to shoot pedestrians gawping at their mobile phones in central London WHEN THEY SHOULD BE LOOKING AT WHERE THEY ARE WALKING?
Now, for Generalissima Cyclefree's second week...0
![[Deleted User]](https://wd.vanillicon.com/d2ea526b1b06ed109333f390c7ae956b_100.png)
This discussion has been closed.