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PostPosted: Wed Nov 26, 2008 10:12 pm 
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Joined: Mon Oct 08, 2007 9:01 am
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Location: West Somerset/East Devon
Woolworths? The store that's been with us for years, a British institution almost (Whitworths, for those of us even older.....), now a victim of the 'credit crunch' (should be a chocolate bar).

MFI closed down the majority of thier South West stores, now even they have called in the administrators.

Various car dealerships going through the hoop.

Who's going to be next?


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PostPosted: Wed Nov 26, 2008 10:34 pm 
BANNED USER
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Joined: Fri Sep 12, 2008 9:03 am
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I wish that someone would close down my girlfriend and her spending, that would save the UK and its deficit!!!!


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PostPosted: Wed Nov 26, 2008 10:38 pm 
North Wales AEC / OWMTBC 2010 Champion
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Joined: Sun May 11, 2008 10:13 pm
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Location: Chester
The worst part is not what is happening, but the speed at which it is happening, much much faster than previous recessions. It seems people are panicking rather than pulling together and working through it.

I'm in the contruction industry, and never has it stopped so suddenly.


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PostPosted: Wed Nov 26, 2008 10:39 pm 
North Wales AEC / OWMTBC 2010 Champion
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mazdaman1980 wrote:
I wish that someone would close down my girlfriend and her spending, that would save the UK and its deficit!!!!


But that's exactly what will pull us through! Its a paradox, but if everyone stopped spending then the crash will be fatal.


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PostPosted: Wed Nov 26, 2008 10:42 pm 
retrobike rider
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"I'm in the contruction industry, and never has it stopped so suddenly"

i used to be years ago but glad i stopped , theres a site opposite the house , few hundred houses proposed but is just an empty wasteland now


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PostPosted: Wed Nov 26, 2008 10:45 pm 
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Personally, i hope its C*rd F*ctory.... i mean we're doing well,takings are very good but they're just in it to be the cheapest why can't they just make a profit on stuff. Don't get me wrong, our prices are highly competetive but we do make AT LEAST 100% on every item we sell wheras the big boys seem to be happy with tiny margins based on massive turnover...
My old boss used to say "Turnover is for the vain...Profit is for the sane".

Its true, if people wern't so greedy none of this would be a problem


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PostPosted: Wed Nov 26, 2008 10:50 pm 
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I'm bewildered why the press are making Gordon Brown some kind of hero out of this, it was his fault in the first place that he turned a blind eye to the banking industry practises. Now Alistair Darling wants turn the UK into an even bigger version of Argentina with the taxing fiasco - has he not learned any lessons?!


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PostPosted: Wed Nov 26, 2008 10:51 pm 
North Wales AEC / OWMTBC 2010 Champion
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dirtjumper_dmr wrote:
Personally, i hope its C*rd F*ctory.... i mean we're doing well,takings are very good but they're just in it to be the cheapest why can't they just make a profit on stuff. Don't get me wrong, our prices are highly competetive but we do make AT LEAST 100% on every item we sell wheras the big boys seem to be happy with tiny margins based on massive turnover...
My old boss used to say "Turnover is for the vain...Profit is for the sane".

Its true, if people wern't so greedy none of this would be a problem


100%... what a dream! Our margin is 5-10% if we're lucky. Not possible to go any higher as we'll loose work.... that's the nature of manufaturing in the UK. High overheads, little profit :(

Quote:
I'm bewildered why the press are making Gordon Brown some kind of hero out of this, it was his fault in the first place that he turned a blind eye to the banking industry practises. Now Alistair Darling wants turn the UK into an even bigger version of Argentina with the taxing fiasco - has he not learned any lessons?!


I totally agree. I have never like Labour or new Labour. They always bollox up the economy and it takes the Tories to clean it up. The last time the Tories cleaned it up it took so long that people got impatient, then voted for new labour who promptly took credit for it then bolloxed it up :roll:


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PostPosted: Wed Nov 26, 2008 10:55 pm 
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dirtjumper_dmr wrote:
"Turnover is for the vain...Profit is for the sane".

Its true, if people wern't so greedy none of this would be a problem


Very true...but customers want cheap prices at whatever the cost...I'm happy the large company I work for is still family owned, has lots of assets, and respect the profit margin...if people want cheap...go elsewhere


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PostPosted: Wed Nov 26, 2008 10:56 pm 
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LeeDevelopment wrote:
I'm bewildered why the press are making Gordon Brown some kind of hero out of this, it was his fault in the first place that he turned a blind eye to the banking industry practises. Now Alistair Darling wants turn the UK into an even bigger version of Argentina with the taxing fiasco - has he not learned any lessons?!


Thats just talking gibberish fella...with all due respect


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