BT broadband office

1. At April 8, 2008 11:14 AM, Carl wrote:

As much as people choose not to accept the "credit crunch" I can clearly see a difference on the high street when I've been in town on/around payday.

Lets hope the worst has come and gone.

2. At April 8, 2008 11:33 AM, Zen wrote:

Certainly true! Speaking from an expanding business's point of view it is getting harder and harder to arrange credit facilities with new suppliers, with only limited capital available more and more avenues are being approached.......... just hope we can hold out.

3. At April 8, 2008 12:25 PM, Merlin wrote:

Referring back to previous topics at the beginning of the year, there were those who said it was a temporary glitch. I think not and our order book supports this. My pal is a retail manager for a High Street chain and he says they are starting to panic. They already tried to entice punters into the shops with cost-price offers, with the result that loads of people came in, bought the cost-price offers and left. They tried blaming the managers but they talk to each other and so that didn't wash. Meanwhile three of our customers have got CCJs and we are sueing a fourth for non-payment of invoices. That has gone up from one a year to one a month! I would like to think that it has come and gone but mortgage problems are only just starting to kick in.

4. At April 8, 2008 3:37 PM, Terry wrote:

Every financial institution say they are making provision for their losses. No one seems to mention the 30% lost on gambling by the banks, energy providers and virtually every large company. Someone must have won.
The second part of the game is to collapse the currency against the euro. And win again. Memories of 1990

Anyone know who is the new winner?

5. At April 8, 2008 4:15 PM, Jeff Dawson wrote:

I understand why everyone is nervous about credit crunch, as I personally have experienced, having worked recently for an investment bank owned mortgage company. To survive we all have to seek out opportunities to diversify, innovate or even become more efficient by training and developing. It might mean revisiting the drawingboard for many small & medium businesses but you have done it once before successfully, you can do it again. I.E. Do not bury your heads in the sand thinking this will go away - revisit your business plans and create action. You have to recognise the challenge and accept the risk to the growth of your business just as you would if a competitor set up shop next door. React to it positively with clear plans of action and what was never your problem in the first place will remain never your problem. What is more you will probably become stronger for the experience when undoubtedly the markets return again.

6. At April 8, 2008 4:50 PM, john wrote:

well i am sorry to disagree and appear pessimistic but i fear we have not yet seen the tip of the iceberg - the economy as titanic is being lead into disaster.
As an accountant in a small rural community location i have over the last year or so been approached for advice by a frightening number of children of friends. Please dont tell mum and dad but we are desperate, we have over £30k on credit cards what can we do?? Their situation now, as they will not be able to do the annual remortgage to pay of last years holidays new kitchen and decoration is not thinkable. Hence expect an even larger downturn in investment by the over 50s as they bail out the children - to the detriment of their pensions etc
Oh and watch out credit card companies - i know of at least £200K of bad debt coming at you - and i am only one person - are you sure your provisions are adequate - 15% of your total balance may be sufficient but i doubt it

7. At April 8, 2008 8:20 PM, Ian Jenkins wrote:

The Small Business Sector and indeed the average man/woman in the street are being made to pay for Bank Greed and Lending Sector incompetence. If there is a dilema with reference to credit card debt for example as we keep hearing dail on the news; why are we still receiving on average 3 0% New Credit Card tempters through our letter boxes on a weekly basis (right now as I speak "VM" (you know who I mean) joins my list of "Special Deal" offers).
FACT: Interest Rates need cutting substantially NOW Why? Because 9% of the population of Britain have 90% of its wealth. The rest of us have a finite budget. The Bank of England and Lenders everywhere have a monopoly (you can't say no to a rise in Mortgage Rates) - but it now appears without anyone questioning it; Mortgage Companies and Banks themselves can simply decide they will not pass on Base Rate cuts. Its time to question not just the ethics behinds these arbitary actions, but their actual legality. The proverbial Goose and Gander could be a good starting point, followed by some legal challenges. One sure fire way to stop them in their tracks is stop borrowing, sell some asset reduce your Mortgaged indebtedness, wait till they have no-one to lend to except first time buyers and tell them to stick their mortgage deals where the sun don't shine.
Ian Jenkins
Access Entertainment

8. At April 9, 2008 12:17 PM, Carl wrote:

I certainly disagree with financial institutions lending more then thier clients can pay off. All the promises of 0 % interest for "x" ammount of months before you start paying things off leads the majority of the public feeling like they have more money then they have in reality. As many have pointed out, when the collectors come about they come short (with the excepption of property assests).
I think these financial institutions are their own worst enemy.
I hate to say it but more legislation is required to protect the financial institutions from themselves.

9. At April 9, 2008 3:30 PM, Will wrote:

I work for a LGV/HGV driving school and everything is in freefall. Test fees are up. Fuel has risen to a ridiculous amount. Wages have increased. Even stamps have risen.

All this money has to come from somewhere. Therefore fees go up to cover it.

This whole country is heading for a financial ruin. Soon we will be paying £5 for a loaf of bread.

10. At April 10, 2008 11:19 AM, Donald wrote:

I run a arts& craft shop- turnover for Q1 is down 15% on last year and footfall is down 15%. One of the major contributors, after the greedy banks, is the media- in all it's forms. They are all hyping this story because they know we will all buy or watch and they can sell more advertising on the back of the increased circulation & viewing figures-more greed and no accountability.