UK Economy

It was confirmed on BBC breakfast news this morning that for the last quarter, the UK went into recession. To clarify, it was added that taking into account all sectors of the UK economy, for the last three months “the UK economy actually lost money”. That ain’t right is it? We’d have been better off just doing nothing? I thought the point was that GDP growth has become negative. Rather than actual GDP becoming negative. Unless we’re in deeper shit than I thought.

In other news, the fact that the pound is now at a five–year low against the dollar doesn’t fill me full of glee in advance of my forthcoming trip to the US in December.

Labels: economics, news

A&L

I see that Alliance & Leicester have been fined big for mis–selling payment protection insurance on personal loans. I am totally unsurprised by this. I took out an A&L loan during the relevant period and I remember being struck by the very good headline interest rate, coupled with enormous pressure from transparently self–interested “advisors”, both over the phone and in correspondence, to take out very expensive optional PPI. I remember thinking that a borrower who wasn’t paying careful attention could easily have ended up turning a very competitive loan into a very uncompetitive one, by paying a large amount for insurance in relation to which the borrower paid the premium, but the lender was the essentially beneficiary. “How can this be legal?”, I thought at the time.

Labels: customer service

Regents Park 10K

Did the first in the series of 6 10Ks in Regents Park yesterday, in horrible wet conditions. The official results are now out and my time was 41:15, which is another personal best by the enormous margin of 6 seconds. So, the bench mark over course is set, 76 seconds to find in 5 months.

Labels: training

You've got to love Australians

It’s in the news that rangers in Australia are searching for a man who is thought to have been grabbed by a crocodile. In a great illustration of the difference in “Health & Safety” culture over there, the Manager of the Queensland Parks and Wildlife Service is quoted as saying:

“We need to make sure the searchers are safe while they’re doing the search. What we’re advising is that they have someone holding their belt at all times when they’re leaning over the edge of the boat”.

RISK ANALYSIS

Potential Risk — Operatives being dragged over the side of a boat by an 18 foot crocodile.

Preventative Measures — Operatives are to have attended the “Belt Holding Technique” seminar and are to present the certificate of attendance upon request.

Labels: news