A big purge in AIB today. Chief Executive, Chairman and Finance Director all got the shove.
any word on Tom Carter?
Anyone watching Prime Time?
Would it be good being a Futures Trader? Seems like a fairly high pressure job, I’d say the emotional swings would be massive.
[quote=“Appendage;27490][QUOTE=BenShermin”]Personally at the moment I’d wouldn’t buy shares in banking companies, I still feel Ireland’s economy is very un-stable and banks are unwilling to dish out loans credit the way they used to only two years ago. Property prices are falling and no amount of talk from Tom Parlon would give me the convidence to invest in property, many property investors are being left with empty houses and having to pay for furnishings themselves just to sell the house, thus pushing the prices down even more, in theory a 300,000 house is only costing the buyer 250,000 if there’s 50K worth of furnishings thrown in. All this has to mean less bank customers and less profit over this year.
[/quote]
And another thing - I think it is quite a good time to be a property investor, as opposed to a property speculator. My aquiantances in the real estate industry tell me that many sellers are willing to accept much below the advertised price for their property as they need to sell. This leaves the power with the buyers, with them basically able to name their price. Combined with generally rising rents mean that as a long term investment property is still a reasonable punt.
The major problem in Ireland has been the ridiculous growth in property prices, this has spawned a generation of speculators who have bought houses with a view to selling them on completion. Hardly a healthy phenomenom. Many people have made a killing at this but clearly it was unsustainable. Hence the empty houses. Speculated bought with a view to twisting but buyers are getting wise to this and are more selective.
I couldn’t be bothered typing anymore, basically Ben you haven’t a clue about the property market.[/QUOTE]
Appendage should post more often. Seems like a right bright spark.
[quote=“Bandage”]I’m presuming the plural of stimulus is stimuli - please correct me if I’m wrong.
Postive stimuli (beware generalities) -
-
The Obama effect: It might be corny or clichd to say it but this has the potential to improve market sentiment and confidence in the US and act as a fiscal stimulus. A global recovery will be driven by the US so this will be key.
-
Interest rate cuts: Recent interest rate cuts in Ireland are worth billions in combined savings for those with mortgage debt. Notwithstanding the fact that unemployment and the ‘correction’ in the housing market are serious issues, the rate cuts should at least free up a portion of household income and give consumer spending somewhat of a shot in the arm.
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Decreasing inflation: commodity prices, like oil and food, are tumbling and this allied to interest rate cuts has seen Irish inflation fall to its lowest level since 1997. Personally, I’m even predicting negative inflation for January after compiling a few calculations earlier. Again, this should provide clear support to the economy but, like 2) above, it’s mitigated by unemployment and the housing market.
That’s where 1) comes in. Once the US gets moving again then Ireland will follow. The US has been in recession since the very end of 2007. But Lehman folding precipitated a massive collapse in the final quarter of 2008 and that appears to have had a huge knock-on effect and caused the house of cards to collapse behind it. It is quite a hunch but I don’t think investor confidence can get any lower and I think this new President guy and all his scheidt talk about hope and change will stimulate market recovery.
I think it’ll take a few months to ‘bottom out’ even though the average recession lasts around 8-10 months and this one’s been ongoing for 14 months now already. But I’m predicting that unemployment levels in the US will start to come down again from about Thursday, 23 July onwards. That will in turn have a positive effect on Irish unemployment rates and my estimate is that things will be looking much more healthy in Ireland from mid October onwards - the Monday just before Champions League matchday 3 next season if you want to push me for an exact date. I haven’t quite figured out what’s going to happen with the Irish housing market but I don’t own a house so I don’t give a shit.
But, overall, this recession has already given us its best shots. It’s still trying to land the odd haymaker or the cheeky low blow. But we’re still standing. The Irish workforce united will never be defeated.
Hail hail.[/quote]
Anyone willing to check if my analysis from last January on page 16 or 17 of this thread and quoted above stacks up? The recession is due to finish next Monday according to my research.
AIB have given yet another two fingers to the Government by appointing an insider to their top job and refusing to cut his pay to the 500,000 level agreed in the recapitalization program.
The banks now see themselves as even more untouchable than before. I think it’s time an angry mob burnt down a bank branch. That horrible looking building on Camden St would be a good option.
[quote=“The Runt”]AIB have given yet another two fingers to the Government by appointing an insider to their top job and refusing to cut his pay to the 500,000 level agreed in the recapitalization program.
The banks now see themselves as even more untouchable than before. I think it’s time an angry mob burnt down a bank branch. That horrible looking building on Camden St would be a good option.[/quote]
Great work on the wording of this one by the Civil Servants. The cunts should be picked off with high powered rifles when they go on strike in a few weeks.
Ya, apparently you can’t appoint an internal chief executive, so AIB have just rejigged things around, made the chief executive role redundant and appointed the internal lad as Managing Director.
No justice like angry mob justice.
Where are the Ra when you need them :mad:
This is absolutly scandelous behaviour. We really are a placid shower of fuckers when it comes down to it.
bastards
:mad::mad:
[quote=“north county corncrake”]bastards
:mad::mad:[/quote]
its the fucking idiot high level civil servants who worded this fucking thing that should swing. How fucking easy would it have been to add in “or a similar position”. Fucking idiots. Should be shot with balls of their own shite. Our Civil Service is a thundering disgrace.
its tom & his mates- their arrogance knows no bound- Time to burn down the IFSC & all the hooray henrys that work there - to think people used to have the audacity to give out to the RA when they were robbing the banks - nuts
its tom & his mates- their arrogance knows no bound- Time to burn down the IFSC & all the hooray henrys that work there - to think people used to have the audacity to give out to the RA when they were robbing the banks - nuts[/quote]
Don’t often agree with you but I do on this one. Irish people aren’t half angry enough about this shit
We are an incredibly apathetic society.
:rolleyes: who cares.
Some great financial advice at the start of this thread appendage must have made a fortune
[quote=“Julio Geordio”]:rolleyes: who cares.
Some great financial advice at the start of this thread appendage must have made a fortune :D[/quote]
Badly exposed alright.
Ben Shermin is the only one to listen to when it comes to financial advice.
[quote=“The Runt”]Badly exposed alright.
Ben Shermin is the only one to listen to when it comes to financial advice.[/quote]
Shermins mistrust wins the day alright
Nick was an alright sort.