BS: Server Industry Job Losses Britain

Subject: BS: Server Industry Job Losses Britain
From: Rasener
Date: 28 Jan 09 - 05:07 AM

The impact of major companies closing or cutting down on output causing many job losses is one thing, but the impact on server industries must be starting to tell by now.
It would be interesting to see where these are ocurring.

For example, I noticed this morning in the news that

Engineering group GKN has said it has cut 2,800 jobs globally since October and may have to shed more because of the slump in the global car industry.

The UK firm, which supplies carmakers including Land Rover and Ford, said it had cut 242 UK positions so far.


and soemthing that may affect LIncolnshire

A Lincolnshire label-making firm is laying off 50 staff at its plants across the UK.

Paragon Labels, which supplies labels to supermarkets, said a 90-day union consultation process had started.

It has factories in Boston, Spalding and Gainsborough, but would not say exactly where the jobs will be lost.

Can we keep it to Britain please

Subject: RE: BS: Server Industry Job Losses Britain
From: goatfell
Date: 28 Jan 09 - 09:20 AM

well that's waht happens when people vote labour

Subject: RE: BS: Server Industry Job Losses Britain
From: Rasener
Date: 28 Jan 09 - 09:39 AM

I still remember the devastating effect of Longbridge in Birmingham closing. I had several friends who had worked all their life at Longbridge. The devestation in the server industries was massive.
It certainly opened my eyes to how many companies are tied and reliant to a major company, and if that company fails......... Just like a line of dominoes falling over.

Subject: RE: BS: Server Industry Job Losses Britain
From: GUEST,James H
Date: 28 Jan 09 - 12:28 PM

Goatfell, are you serious? What is happening now is not a lot different to the early nineties, when people had been voting conservative for more than a decade.

Subject: RE: BS: Server Industry Job Losses Britain
From: Richard Bridge
Date: 28 Jan 09 - 02:48 PM

Goatfell, one of the few things we can be CERTAIN about is that the Thatcher-Reagan encouragement to bankers to play shill games, followed by greed, caused this.

Subject: RE: BS: Server Industry Job Losses Britain
From: Rasener
Date: 28 Jan 09 - 03:40 PM

Well I have to say that Gordon Brown is making a right arsehiole of it at the moment.

Instead of giving all this money to the fatcats to squander, why didn't he

1. Invest in builders all over the country to build more prisons and create work and lock up the evil bastards that seem to be in our society these days.

2. Invest in hospitals by creating Matrons and having more nurses available to the matrons. Once again creating new jobs, and stop us worrying about having to go into hospital.

3. make people who haven't got jobs and are sponging on the giveouts, join the forces and learn trades and help the forces out. More jobs.

4. Give the police the powers back again and stop all this thuggery thats going on and put them in the new prisons. Also provide double the police force who would have to be on the beat.

Anything but shore up the fatcats that must be laughing their heads off at Gordons Xmas presents.

I'll get me soapbox

Subject: RE: BS: Server Industry Job Losses Britain
From: Rasener
Date: 29 Jan 09 - 12:47 PM

Companies cutting back include:

Power firm E.ON is to cut 450 jobs, mainly in its retail division. It plans to introduce "leaner and more efficient processes" and said it would try to ensure most redundancies are voluntary

Music, games and DVD retailer Zavvi is to close 15 stores immediately, leading to the loss of 295 jobs

Engineering group Cookson will cut its global workforce by 7%. It is to shut its manufacturing plant in Ayrshire in the next 12 months, with the loss of 180 jobs

Nearly 130 jobs are to go at food company Serious Foods after it appointed PwC as administrator

Law firm Linklaters is to start a 90-day consultation with staff, with up to 120 lawyers and 150 business staff expected to lose their jobs

The London Underground is to cut 1,000 jobs, mostly in its administrative, finance and legal divisions

The GMB union has said it fears 182 jobs may go at National Grid in Newcastle upon Tyne because the company plans to outsource work

Southern Water staff have been told they will not receive a pay rise this year. HURRAH

Its not all doom though

Subway, which has more than 1,400 outlets owned by 660 franchisees in the UK and Irish Republic, says it will invest £60m in the new stores.

The chain said it had opened 22 new outlets in the last two months alone, creating 264 jobs. From just 25 outlets in 2000, it now has more than 30,000 stores in more than 87 countries across the world, employing about 16,000 people.

Also on Thursday, financial services company First Derivatives said it would create 110 new jobs in Newry, County Down, as part of an expansion package.

Swedish fashion retailer H&M also announced on Thursday that it would create between 6,000 and 7,000 new jobs around the world this year.

On Wednesday, supermarket chain Asda said that it was opening 14 new stores in 2009, creating 7,000 new positions.

Subject: RE: BS: Server Industry Job Losses Britain
From: Richard Bridge
Date: 29 Jan 09 - 01:20 PM

I have so far been quite a fan of the Gordon Brown/Alistair Darling approach, but I am less keen on giving money to foreign car manufacturers who will simply send it back home - abroad.

But Links downsizing? Smirk!

As for the rest, Villan, you sound just the sort of bloke who would have deported Henry the Gamekeeper, ordered the Peterloo massacre, and hanged Bold Robert Emmet (and for the last, much thanks). Bring back Captain Swing, say I.

Subject: RE: BS: Server Industry Job Losses Britain
From: Rasener
Date: 29 Jan 09 - 02:04 PM

Now thats a good idea Captain Swing by Graham Moore. Great song

CAPTAIN SWING (G. Moore) Tolpuddle Man

The sun's gone down, the shutters drawn
The curfew bell has tolled
The fox is lurking round the farm
The barn owl's wings unfold
In the candle light tonight you might, hear to your alarm
The midnight band of Captain Swing as he rides from farm to farm

All over Dorset the flames are leaping high
The ricks are burning, who' s the cause?
Captain swing not I!

The sheep are safely in the fold
The shepherd deeply sleeps
The ploughman reels back from his drink
Through woods the poacher creeps
The squire retires on bed of brass with one thing on his mind
If Captain Swing's this way tonight there'll be no corn to grind

The labouring man is on his knees
Nowhere can he get hired
Since new machines that do the work, the farmer has acquired
But how he sweats when he reads the threats on paper morning brings
Destroy your gear or else I swear you'll pay Signed Captain Swing

Subject: RE: BS: Server Industry Job Losses Britain
From: Rasener
Date: 29 Jan 09 - 02:05 PM

All I am saying Richard is that Gordon Brown is a right tosser and is not good enough to be Prime Minister.

Subject: RE: BS: Server Industry Job Losses Britain
From: Rasener
Date: 29 Jan 09 - 02:16 PM

He is a bit like Tony Adams, has a fine pedigree, but totally out of his depth.

Subject: RE: BS: Server Industry Job Losses Britain
From: Richard Bridge
Date: 29 Jan 09 - 05:49 PM

Who?

Subject: RE: BS: Server Industry Job Losses Britain
From: Teribus
Date: 30 Jan 09 - 12:28 PM

Portsmouth FC Manager

So todays woes are down to Ronald Reagan and Margaret Thatcher. Funny I thought that it had something to do with a Democrat President of the United States of America setting up two quasi-national mortgage brokerage firms in order to provide loans to people who should never have been given loans in the first place, thereby creating a sea of what is now called "toxic debt" that can never be repaid, so the debts got sold on down the line.

Subject: RE: BS: Server Industry Job Losses Britain
From: pdq
Date: 30 Jan 09 - 01:13 PM

David Frum on the demise of Fannie Mae and Freddie Mac
Posted: July 11, 2008, 4:00 PM by Marni Soupcoff
David Frum

"The shapers of the American mortgage finance system hoped to achieve the security of government ownership, the integrity of local banking and the ingenuity of Wall Street. Instead they got the ingenuity of government, the security of local banking and the integrity of Wall Street.

Yesterday, shares of the two U.S. mortgage companies Fannie Mae and Freddie Mac collapsed. Freddie's shares have lost 70% of their value in a week; Fannie's 55% over the same period.

Fannie and Freddie are technically known as government-sponsored enterprises. What that means in practice is that everybody assumes they carry a government guarantee even though in reality they do not.

This assumed guarantee has allowed them to engage in decades of dubious market activity, which has now come to a disastrous head.

For its first 30 years of life, Fannie Mae actually was owned by the government. In those quiet early years, Fannie (formally known as the Federal National Mortgage Association) borrowed at very low rates, typically an eighth of a point above the U.S. Treasury itself, then loaned the money to banks for middle-class mortgages.

In 1968, the Johnson administration decided to privatize Fannie — not for any free-market reason, but because the federal government's debt was rising fast, and the administration realized it could make the government's accounts look better by moving Fannie Mae's obligations off the books.

The administration then created a second company to provide competition to Fannie. Thus was born Freddie Mac, the Federal Home Loan and Mortgage Loan Corporation. (It owes its nickname to its ticker initials FRE.)

Today the two companies together are responsible for some US$5-trillion of mortgage debt. To put that in perspective, that's more than half the entire U.S. federal debt.

Fannie's and Freddie's ability to pay their debts depends in turn on their ability to collect from retail mortgage lenders. And with those lenders dropping dead like roses in a heat wave, collection suddenly looks very much in doubt.

The two institutions have long been run not by bankers but by retired political figures, predominantly Democrats. From 1991 to 1998, Fannie Mae was headed by James Johnson, a longtime aide to former Democratic vice president Walter Mondale. Johnson's successor, Franklin Raines, had served as budget director to Bill Clinton. Jamie Gorelick, vice chair of Fannie Mae from 1998 to 2003, served as deputy attorney general in the Clinton administration.

These figures have paid themselves impressive private-sector salaries. Johnson earned US$21-million in just his last year at Fannie Mae. Raines earned US$90-million for five years' work at Fannie Mae. Gorelick got US$26-million.

Yet the companies never had to meet the discipline of the private marketplace. They paid no taxes, and they had access to a line of credit at the Treasury department. More ominously for today's crisis: They were not required to provide anything like the level of information about their internal operations expected of a privately owned company.

This non-transparency allowed Fannie Mae to engage in serious accounting fraud, overstating its earnings by more than US$6-billion over the Raines years — overstatements that incidentally justified the company's lavish compensation packages. (Both Johnson and Raines incidentally also received below-market mortgages from the large mortgage company — and major Fannie Mae beneficiary — Countrywide Mortgage.)

The loss of confidence that struck the markets this week has been gathering for years. It is the natural byproduct of the bad practice of merging private business with government power.

As so often happens with large scandals, the cost will fall on everyone except the responsible parties. In 2006, federal regulators sued Franklin Raines and two other Fannie Mae executives to recover  US$115-million of compensation. The case was settled for US$3-million, plus the surrender of some (now probably valueless) stock options and other contingent benefits. The US$3-million was paid from Fannie Mae's own insurance.

And at the polls this November, the voters will likely exact a political price for the debacle from John McCain and the Republicans — even though the party most tainted by the failure ought to have been the Democrats. Indeed, James Johnson until recently chaired Barack Obama's vice presidential selection committee.

That's not close enough to justice, not even close enough for government work. "

Subject: RE: BS: Server Industry Job Losses Britain
From: Richard Bridge
Date: 30 Jan 09 - 02:55 PM

Try reading it again - the Democrats are responsible for the failures of the PRIVATE lending decisions (indulging in Gordon Gecko greed is good antics) of the institutions that the FM's lent to?

Subject: RE: BS: Server Industry Job Losses Britain
From: Teribus
Date: 31 Jan 09 - 03:37 AM

Thanks for that pdq, extremely informative.

Oh Richard if you can't understand it get a grown up to explain it to you.

Subject: RE: BS: Server Industry Job Losses Britain
From: Richard Bridge
Date: 31 Jan 09 - 04:49 AM

Well, that lets you out.