A traumatic but necessary cutback

first_imgTuesday 19 October 2010 8:29 pm IT WILL be grim. The Ministry of Justice will lose 14,000 jobs over the next four years. Close to 10,000 will go in the prison and probation system. There will be 42,000 job losses in the military. These form only part of the 490,000 net public sector jobs set to go over the next four years as a result of the Comprehensive Spending Review, to be unveiled today by George Osborne. Some of these will take place via natural wastage; some departments will be asking staff if they want to cut hours and pay. But there will also be involuntary redundancies, inflicting much trauma. Everybody with a heart will be feeling for those about to be chopped.The trouble is that the coalition has no choice but to act; the pain of the next few years would turn into a far greater disaster otherwise. Years of over-spending under Labour, combined with the recession, mean that the public sector is facing its day of reckoning. Government spending is too large for a shrunken private sector to support. There is nothing anybody can do about this reality: the spending cuts are the minimum required to eliminate the structural deficit over the next few years and are being accompanied by painful tax hikes. The situation is precarious: there is no way the UK government could now cope with a secondary crisis, caused for example by a sovereign bankruptcy. whatsapp Share But while the overall reduction in public spending is absolutely right, many of the individual policies are much more debatable. This is especially true of the decision to increase foreign aid, sacrificing the military and prisons. Governments should be concentrating on core functions; yet the reverse seems to be happening in Britain, where we will soon have aircraft carriers devoid of planes. A better restructuring of the way services are delivered could preserve value- adding, frontline jobs while reducing back-office, administrative functions. Unfortunately, producer interests continue to dominate departmental thinking; and the easiest cuts are being made, rather the right ones. There is one key way in which the job losses should be put into context. Private firms were forced to go through a nasty process of shrinkage during the recession; and even in these slightly better times thousands of people are being made redundant weekly. No fewer than 143,000 people were made redundant in the three months to August, nearly all in the private sector. The redundancy rate was 5.8 per 1,000 employees, down 2.7 from a year earlier. These sorts of rates have long been the norm in the private sector – yet while some of the bigger layoffs are reported, we don’t see these aggregates splashed on front pages every quarter when they are published by the Office for National Statistics. This is for good reason: even more jobs tend to be created than are destroyed. That is how capitalism works; the public sector is now being confronted with a much harsher and precarious reality that the rest of us have had to face all of our lives. The good news is that total employment is growing again, reaching 29.158m in June-August, up 315,000 from a trough of 28,843m in December-February. Private sector jobs grew at an even faster rate of 361,000, compensating for 46,000 public sector job cuts. As long as this continues, most of the public sector workers who will lose their jobs ought to be able to find alternative work. That, at least, is what we must all hope ahead of today’s traumatic announcements. Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo whatsapp A traumatic but necessary cutback KCS-content Tags: NULLlast_img read more

Continue Reading

Lord Sugar gives apprentices his shopping list

first_img Show Comments ▼ whatsapp whatsapp A HEAVENLY start to this week’s Apprentice. The final seven gathered on top of Tower 42 and as the morning light bathed Lord Sugar in an ethereal glow, a chorus of angels could be heard. Quite what this had to do with getting chicken feet on the cheap wasn’t clear.This was the wheeling and dealing challenge. No elaborate pitches or marketing bombast to hide behind, just good old fashioned haggling and it was boys against the girls. Given a list of ten items, the candidates had to find everything from a Singer sewing machine to a white truffle.SELLING TRUFFLES “Truffle? That’s the food, isn’t it?” asked Jamie. He wasn’t waiting to find out: his tactic was to hit the streets immediately, with him working alone and Chris and Stuart working as a double act.Liz, leading Apollo, took a more measured approach, working out what each item was and where best to find it. Not that this filtered down to the rest of the team. Trying to sniff out the elusive truffle, Stella thought she’d call up Marco Pierre White’s restaurant and see if he could help. Sadly, Marco wasn’t available. Not to worry, she’d try Gordon Ramsay. That’s the spirit.Despite this, the girls did well, getting all 10 items with relative ease. The boys had more trouble. Jamie in particular had a stressful day. After trawling jewellery shops he finally found out what a 22 carat gold tikka was before spending hours tracking down a four-metre worktop surface. Man hasn’t hunted this monomaniacally since Moby Dick. CHRIS’ AM DRAMMeanwhile, Chris went in for a bit of amateur dramatics. To get a good deal he spun a variety of tales involving a tartan-loving gran in need of a wedding present and a taxi-driver brother about to fail his exams. Incidentally if you’re looking for a business investment, Chris is good friends with a Nigerian prince.But despite their haphazard style and incomplete shopping trolley, the boys still won and no one was as shocked as they were. With the girls back in the boardroom, it all came down to that truffle, finally bought by Laura and Stella from a Knightsbridge restaurant. Needless to say they didn’t pay cost price. Lord Sugar made his decision and this time there was no room for haggling. Laura, you’re fired. KCS-content center_img Share Wednesday 1 December 2010 7:24 pm Lord Sugar gives apprentices his shopping list Tags: NULLlast_img read more

Continue Reading

Resort Savings & Loans PLC (RESORT.ng) 2013 Annual Report

first_imgResort Savings & Loans PLC (RESORT.ng) listed on the Nigerian Stock Exchange under the Financial sector has released it’s 2013 annual report.For more information about Resort Savings & Loans PLC (RESORT.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Resort Savings & Loans PLC (RESORT.ng) company page on AfricanFinancials.Document: Resort Savings & Loans PLC (RESORT.ng)  2013 annual report.Company ProfileResort Savings & Loans Plc is a financial services institution in Nigeria specialising in mortgage banking products and services. The company offers personal and corporate mortgage accounts, leasing and credit facilities, property acquisition management services and fund management services. Key products include RIMPlan for those saving towards owning their own home with a Life Assurance plan as an added bonus; RIMLand for those wanting to acquire their own land; Resort Home Renovation Loan for the renovation of current properties; the National Housing Fund (NHF) Scheme targeted at low and medium individual income earners employed in the private and public sectors; and Resort Early Home Owners Account for the young adult market in the 25-40 year age bracket. Resort Savings & Loans Plc’s head office is in Lagos, Nigeria. Resort Savings & Loans Plc is listed on the Nigerian Stock Exchangelast_img read more

Continue Reading

Henry Tuilagi welcomes Joe Van Niekerk to the Top 14

first_imgWednesday Oct 8, 2008 Henry Tuilagi welcomes Joe Van Niekerk to the Top 14 Henry Tuilagi introduced Toulon’s new recruit Joe Van Niekerk to the Top 14 recently in a way that we’ve become accustomed to seeing from the huge Samoan number eight. Van Niekerk has only just started playing for Toulon since arriving from the Lions in South Africa, but got to feel the warm, friendly welcome of human wrecking ball Tuilagi in full flight. Unfortunately the Perpignan backrower went on to break his arm about ten minutes after this big run, and will miss the first four rounds of the Heineken Cup. The recovery from surgery on the fractured right arm will put him out of action for the next two months. The unfortunate injury also means that the influential Tuilagi will miss the upcoming Pacific Islanders European tour in November. Perpignan meet Treviso on Friday in their opening Heineken Cup match.ADVERTISEMENT Posted By: rugbydump Share Send Thanks Sorry there has been an error Big Hits & Dirty Play , See it to Believe it Related Articles 25 WEEKS AGO Suspensions handed down after testicle grabbing… 26 WEEKS AGO The ‘double ruffle’ splits opinion with fans… 26 WEEKS AGO WATCH: The nastiest and most brutal moments… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedGranny Stuns Doctors by Removing Her Wrinkles with This Inexpensive TipSmart Life ReportsIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier Living10 Types of Women You Should Never MarryNueeyYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyHere’s What That Tiny Hole Next to Your Iphone Camera Actually DoesNueeyThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Continue Reading

Rollback of Cuba Policies Will Harm U.S. Agriculture

first_img SHARE Facebook Twitter A recent study says any rollback of Obama-era moves to normalize relations with Cuba will harm U.S. Agriculture. The study by Engage Cuba, a coalition of private companies seeking an end to the Cuba embargo, says any new regulations on exporting agricultural commodities to Cuba could cost $1.5 billion and affect 2,200 U.S. jobs. That is on top of the estimated $6.6 billion economic impact and near 13,000 jobs on the line, if President Donald Trump changes provisions by former President Barack Obama.The expected rollback by President Trump is largely based on discussions with Cuban-American Republican lawmakers from Florida, Representative Mario Diaz-Balart, and Senator Marco Rubio. The announcement would come eight months after candidate Trump promised Cuban-Americans during a Miami campaign speech that he would reverse Obama’s policies on Cuba if the Castro government did not increase political and religious freedoms.Source: NAFB News Service Facebook Twitter By Hoosier Ag Today – Jun 5, 2017 Home Indiana Agriculture News Rollback of Cuba Policies Will Harm U.S. Agriculture SHARE Rollback of Cuba Policies Will Harm U.S. Agriculture Previous articleLeaders in Innovation Say MooNext articleSlugfest in Southern Indiana Fields Hoosier Ag Todaylast_img read more

Continue Reading

DS News Webcast: Friday 2/21/2014

first_imgSign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: DSNews Previous: Fewer Prospective Homeowners to Clash Over Homes Next: Florida Men Sentenced for Defrauding Millions from Homeowners Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2014-02-21 DSNews Is Rise in Forbearance Volume Cause for Concern? 2 days ago Related Articles in Featured, Media, Webcasts Demand Propels Home Prices Upward 2 days agocenter_img RealtyTrac released a yearly housing affordability analysis Thursday, noting an average 21% increase in monthly house payments. Average payments rose from $714 in the fourth quarter of 2012 to $865 in the fourth quarter of 2013. Rising interest rates are cited as a factor in the increased payments. Interest rates rose to 4.46% in 2013 from the 2012 rate of 3.35%. On average, the increase in rates caused a 10 percent rise in median prices.Despite rising interest rates, the report notes that buying a home is still cheaper than renting in 296 out of 325 counties. Counties with some of the biggest increases in estimated monthly house payments included Contra Costa and Sacramento counties in California, both up more than 50%, Wayne and Oakland counties in Michigan, both up more than 45%, and Clark County, Nevada, up 43%.On Thursday, Realtor.com released its National Housing Trend Report for January. Despite severe weather conditions, the report notes positive trends in the number of listings and median list prices of homes. The number of listings rose 3.1% from January 2013, and the median list price is up 8.3% to $195,000. The median age of inventory is unchanged at 115 days. More listings and steady inventory point to a more stable market in 2014 says the real estate website.  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago February 21, 2014 425 Views DS News Webcast: Friday 2/21/2014 Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / DS News Webcast: Friday 2/21/2014 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Subscribelast_img read more

Continue Reading

Mc Conalogue concerned at increase in Donegal repossession applications

first_img Google+ Homepage BannerNews Pinterest WhatsApp Twitter A Donegal TD says he’s concerned by a wave of new family home repossession cases lodged in the courts in Letterkenny in the first half of the year.Deputy Charlie Mc Conalogue says figures released to Fianna Fáil show there were 35 repossession orders granted in Donegal in the first months of the year, with court proceedings initiated in a further 132 cases over the same period.He says the most worrying thing is the vast majority of these cases involve family homes………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/08/charlhomes.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter News, Sport and Obituaries on Wednesday May 26th Mc Conalogue concerned at increase in Donegal repossession applications Facebook Pinterest Google+center_img Previous articleDonegal woman just misses out on finals at World Handball ChampionshipsNext article“Government’s commitment to LGH cancer services is absolute” – Mc Hugh admin Three factors driving Donegal housing market – Robinson Help sought in search for missing 27 year old in Letterkenny WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly RELATED ARTICLESMORE FROM AUTHOR By admin – August 21, 2015 Facebook 448 new cases of Covid 19 reported today Nine Til Noon Show – Listen back to Wednesday’s Programmelast_img read more

Continue Reading

Minnesota dad drowns while saving his 3-year-old who fell in lake: Sheriff

first_imgMattGush/iStock(FRAZEE, Minn.) — A Minnesota dad drowned while saving his 3-year-old who fell in a lake, according to authorities. Christopher Schultz, 31, was at Detroit Lakes in Minnesota Saturday night when his 3-year-old fell from a bridge into the water, according to the Becker County Sheriff’s Office. Schultz jumped into the water and “began to struggle while keeping the child above the water,” the sheriff’s office said.Bystanders went to the water and brought the toddler to shore, but the father “never resurfaced,” the sheriff’s office said. The child — identified by Schultz’s brother as a 3-year-old boy named Ashton — survived with non-life-threatening injuries, authorities said. Crews immediately launched a search for Schultz. The Frazee, Minnesota, dad was found at 9:07 p.m. and taken to a hospital where he was declared dead, the sheriff’s office said.Schultz’s brother, Ryan Olson, told the Star Tribune that Schultz was a “phenomenal swimmer” and a father of four. “He lived and died for his kids,” Olson told the newspaper. “The man went out a hero.”Copyright © 2019, ABC Radio. All rights reserved.last_img read more

Continue Reading

Banpu Kalnin Ventures completes $570m Barnett Shale cash acquisition

first_imgThis acquisition represents BKV’s first foray into the Barnett Shale and BKV’s largest deal to date Banpu Kalnin Ventures completes Barnett Shale cash acquisition. (Credit: Shutterbug75 from Pixabay) Banpu Kalnin Ventures Corporation  confirmed that its affiliate, BKV Barnett LLC (the “BKV Barnett”), has closed the deal to acquire Devon Energy Corporation’s (DVN) (“Devon”) assets in the Barnett Shale on October 1, 2020. The cash deal provides $570 million for the Barnett assets and up to $260 million in contingent payments over the next four years, based on oil and gas prices.Net production from the Barnett Shale properties averaged nearly 600 million cubic feet equivalent per day net in the third quarter of 2019. Upon completion of this transaction, BKV’s combined Marcellus and Barnett portfolio will have over 345,000 net acres, operate more than 4,000 producing wells and have proved reserves in excess of 3.7 Tcfe.This acquisition represents BKV’s first foray into the Barnett Shale and BKV’s largest deal to date. The company has previously focused on the Marcellus region.In five short years, BKV’s natural gas-focused strategy has taken the company from startup to one of the top 20 natural gas companies in the U.S., producing at a rate of 700 million cubic feet of natural gas per day net.“We are excited to complete this acquisition in the Barnett Shale, and we believe natural gas is the bridge fuel of the future,” said Christopher Kalnin, CEO of BKV Corp. “We look forward to continuing the wonderful work Devon has established in the Barnett and expanding our investments to deliver high-quality gas asset production for many years to come.” Source: Company Press Releaselast_img read more

Continue Reading

Pacific Fleet Unit Visits Seychelles for Anti-Piracy Campaign

first_img View post tag: visits View post tag: Campaign December 22, 2011 Share this article View post tag: Unit View post tag: Pacific View post tag: piracy View post tag: africa View post tag: News by topic View post tag: Anti Pacific Fleet (PF) task unit headed by large ASW ship Admiral Panteleyev attending the international anti-piracy campaign in the Gulf of Aden on Dec 19 arrived in the capital city of Seychelles Victoria paying informal visit.The warship was met on the pier by Russian ambassador to Republic of Seychelles Mikhail Kalinin. Later on that day, an official delegation visited Russian diplomatic mission.On Dec 20, PF mariners paid a visit to the president of Seychelles James A. Michel, national military command and coast guard authorities.During the visit, Russian sailors will give a banquette on board Admiral Panteleyev; crewmembers plan to meet with Russian diaspora living on the islands, and to take local press on board.Besides, as an exchange of anti-piracy experience, Russian servicemen on Dec 23 will hold a demonstration drill off the port of Victoria. Representatives of Seychelles’ armed forces will watch search operation on a vessel suspected of pirate activity.Recall, it is the sixth PF anti-piracy task unit formed in Aug 2011. The seventh PF task unit led by large ASW ship Admiral Tributs left Vladivostok on Dec 10 to shift their predecessors.[mappress]Naval Today Staff, December 22, 2011 Pacific Fleet Unit Visits Seychelles for Anti-Piracy Campaign View post tag: Seychelles Back to overview,Home naval-today Pacific Fleet Unit Visits Seychelles for Anti-Piracy Campaign View post tag: fleetlast_img read more

Continue Reading

Load More