[News] Morgan Stanley begins move away from London

[hans kraay fan club]

Didn't see you complain when ford shut their plant in Portsmouth and moved to Turkey using British tax payers money resulting in the loss of thousands of jobs.

Do you mean the Transit plant in Swaythling (Southampton)? There were thousands there in the 80s but that was down to about 400 when it closed a couple of years ago. Was a sad day, locally. I personally know four people who worked there (only one of them at the point it closed). This isn't Top Trumps though - whatever you think of the banking industry, YOU and I need the money they generate and the taxes they pay.

 

[alfredmizen]

Give over.

The choice is: uproot your entire life including relationships, family, friends etc etc or lose your job.

It isn't about liking one place more than the other is it? Because a little over half the country voted for one thing over another a lot of people are at real risk of losing their livelihoods. Don't trivialise that. It's offensive and unnecessary.

Or it could be that Dublin/Frankfurt/Zurich/Paris dont have the amount of people with the necessary skills for all these major banks to relocate there , and they KNOW they will never get enough people to move to a dead and alive hole like Frankfurt and they were basically peddling scare stories in the hope of influencing the vote of people who will be taken in .If anything London AND other European financial centres will lose out to places like Hong Kong and Singapore as capital moves eastwards.

 

[Seagull58]

If it wasn't for Gordon Brown and Alistair Darling, the cashpoints would have run dry during the financial crisis and the banks would have pretty much brought about the end of civilisation as we know it. Everybody else in power in the western world, including the US, was paralysed with inaction until they took the lead.

It's a good story, which may even have a grain of truth somewhere, and it also occurred several years after his catastrophic raid on pensions. We won't mention gold either.

 

[alfredmizen]

If it wasn't for Gordon Brown and Alistair Darling, the cashpoints would have run dry during the financial crisis and the banks would have pretty much brought about the end of civilisation as we know it. Everybody else in power in the western world, including the US, was paralysed with inaction until they took the lead.

If it wasnt for Brown and Darling doing EXACTLY what Mervyn King and the staff at the Bank Of England told them to do you mean, Brown was like a rabbit in the headlights and had to have his hand held all the way through, FACT .

 

[fat old seagull]

Nigel Farage..."we now need a Brexit Government" . Does he actually expect to get some sort of Cabinet Post? Surely not FFS.

 

[BBassic]

Nigel Farage..."we now need a Brexit Government" . Does he actually expect to get some sort of Cabinet Post? Surely not FFS.

What are the odds on him becoming Foreign Secretary in a Boris Johnson Cabinet ?

 

[narly101]

If it wasn't for Gordon Brown and Alistair Darling, the cashpoints would have run dry during the financial crisis and the banks would have pretty much brought about the end of civilisation as we know it. Everybody else in power in the western world, including the US, was paralysed with inaction until they took the lead.

ahahahahahahahahahhahahahahahahahahhaha - you daft plonka. "The banks would have pretty much brought about the end of civilisation as we know it." Dear god, listen to yourself.

 

[Bladders]

Might get a seat on the train now


Sent by 2 old baked bean cans and a piece of string

 

[Norman Baker suck my lozenge]

All the best M S[emoji1310]


Sent from my iPad using Tapatalk

 

[Ernest]

Nigel Farage..."we now need a Brexit Government" . Does he actually expect to get some sort of Cabinet Post? Surely not FFS.

Lord Farage as chancellor and Sir Godfrey Bloom in charge of foreign aid for starters

 

[Hillian1]

Well, the one big contract we had for this summer has gone to shit overnight due to the exchange rate.

Everything signed, all production space allocated well in advance, now we go from 8% margins to a 1% loss.

So the quandary is, honour the contract but make an overall loss or terminate the contract and although no operating loss is incurred nothing at this short notice could be won to fill the gap, this in turn means I have staff doing nothing and still being paid.

F**king divs.

 

[worthingseagull123]

And people have the gall to celebrate this result.

Good riddance I say.

I don't mind helping them pack.

 

[Brovion]

It's been denied, and I'd be surprised if any jobs move yet. Business will be waiting to see how EU negotiations pan out.

Yeah, that's exactly what they're doing where I work. We had an email round before the vote saying that in the event of Brexit the company would 'most probably' relocate its headquarters from the UK, then today we had another one saying the company was keeping an open mind and was going to 'wait and see' before deciding anything.

Despite the blackmail I still voted 'Leave'!

 

[Springal]

Well, the one big contract we had for this summer has gone to shit overnight due to the exchange rate.

Everything signed, all production space allocated well in advance, now we go from 8% margins to a 1% loss.

So the quandary is, honour the contract but make an overall loss or terminate the contract and although no operating loss is incurred nothing at this short notice could be won to fill the gap, this in turn means I have staff doing nothing and still being paid.

F**king divs.

How come it suddenly turns into a loss overnight? What if the exchange rate recovers early next week? Do your contracts not factor in exchange rate?

 

[Billy the Fish]

For years I've been reading on NSC that the UK is too reliant on the financial and service industries. Every chancellor we've had is in the pocket of bankers who for the last few years have been viewed as the enemy by most.

Hopefully this situation will be a kick up the arse for the next chancellor and they will make and effort to build on what industry we have left and re-skill the workforce so it's in a position to trade with the rest of the world.

 

[hans kraay fan club]

How come it suddenly turns into a loss overnight? What if the exchange rate recovers early next week? Do your contracts not factor in exchange rate?

Contracts are written so far in advance at times, and you can only go SO far to protect against currency fluctuations, without making yourself uncompetitive.

Quotes we produce will typically involve selling a package to a main contractor for works to take place 12-18 months in the future. The equipment involved would typically be a $20k device from the States, CHF 100k of equipment from Switzerland, and €20k or so of parts from Europe. Then we'll have shipping and customs costs to factor in, from all three places, and UK labour costs. If we assumed worst case on currency fluctuations on each of those, we'd never get another contract.

 

[Ernest]

For years I've been reading on NSC that the UK is too reliant on the financial and service industries. Every chancellor we've had is in the pocket of bankers who for the last few years have been viewed as the enemy by most.

Hopefully this situation will be a kick up the arse for the next chancellor and they will make and effort to build on what industry we have left and re-skill the workforce so it's in a position to trade with the rest of the world.

Exactly, lets train our youngsters into trades like builders, electricians, plumbers as well as nurses and doctors instead of importing cheap labour from abroad to do the job as cheap as they can.

 

[Hillian1]

How come it suddenly turns into a loss overnight? What if the exchange rate recovers early next week? Do your contracts not factor in exchange rate?

They won't though will they.

And no, they don't. What I do is secure rates into overseas distribution networks on 60 day agreements, brokering if you will, I now have the choice of operating a loss or not operating at all until i renegotiate.

 

[Tom Hark Preston Park]

ahahahahahahahahahhahahahahahahahahhaha - you daft plonka. "The banks would have pretty much brought about the end of civilisation as we know it." Dear god, listen to yourself.

Cashpoints not paying out money in the city of your choice for the foreseeable? Yeah, that would have really ended well. Looting, curfews, martial law etc etc. It really wouldn't have taken much at that point to set the UK alight. And I don't just mean Croydon.

 

[Biscuit Barrel]

Our hospitals are going to have a shortfall of nurses, quite a few say they're leaving now

We are doomed!!! It's a good job the hospitals are stuck to the ground or they might leave as well.