Lehmans

dopester

Generali wrote: »

Interesting outift. I'd be happier if they used a top tier auditor if it were my money but they look pretty solid despite that.

Physical gold is a big security risk.

And yet people have used the physical stuff as a store of wealth and value through the ages - long before e-gold holding companies came on the scene.

With that ETF you posted about just above, such types of outcome, or many similar such as power-cuts or fraud or seizure or litigation against the company ect doesn't attract me to such schemes.

fc123

Generali wrote: »

Well this is what I'm thinking at the moment.

I'm off to Aus in a couple of months and a return to finance looks like a non starter: I don't really enjoy it and I don't think that there's going to be much in the way of work around for the next few years.

Now I do enjoy food and cooking. Love it, just love it. I've had some thoughts about a particular sort of food company that could well go down a storm over there.

We'll see. I think that the alternative is going to be to improve my IT skills and set myself up as a small scale IT support service for SMEs.

I could do without working for other people any more. I don't really cope too well with being ordered about by bosses.

Out of bad things come good things.

I 'lost the faith' in 04/05..I mean really lost it. I was raised to believe that if you had a bit of a talent for something, was hardworking and honest...well the rest would follow. I don't think I understood then what 'The rest; was..I assumed it to be 8 beds with lake or similar.

Society judges success by what one acquires in material goods.

You see it on here all the time. 'I want to sell my million pound house' and the first thought which springs to my mind is...'whoah, they've done well'.

I felt that aged 41 I should have'got there' and to outsiders I may have seemed to....but our assets added up to our debts...in fact the debt was a bit more.
So, @ 41 we were back at the beginning (like snakes and ladders) but with the infrastructure to move forward.
Bad luck is just as it is but all the errors and not being decisive enough on certain things.....the lessons learnt are helping us move forward again now.

Anything that can service sme's should do well in downturns as you have a wide spread of customers, so if one fails, it's not a disaster..the risk is spread out more....and small businesses may be beter at surviving...we duck and dive and can make changes quicker.

Cooking...well everyone has to eat.
I have been very inspired by Riverford in Devon and the owner...he was featured on Jimmys Farm. Worth a google.

And you do get 'freedom of mind' running your own thing.

worldtraveller

UK bank Barclays has bought some of the core assets of US investment bank Lehman Brothers for $1.75bn (£1bn).

Barclays bought Lehman's North American investment banking and trading unit for $250m, and paid $1.5bn for its New York headquarters and two data centres.

As well as the investment banking and trading operations, Barclays is also acquiring Lehman's fixed income, equities sales, and research departments in North America.

The deal could safeguard the jobs of about 10,000 employees working in the divisions.

BBC News

blackanchorage

Unfortunately none of the UK jobs are saved...

I resigned from Lehmans UK about three weeks ago. It seems that salaries are going to be paid for September; but can the liquidator cherry-pick whose salaries are paid? It's not going to benefit the firm too much to pay my salary, compared with somebody they want to keep on.

Thanks

magneto

good new for Lehman's brothers employees

magneto

do you total number of people employed world wide by the bank?

WTF?_2

blackanchorage wrote: »

Unfortunately none of the UK jobs are saved...

I resigned from Lehmans UK about three weeks ago. It seems that salaries are going to be paid for September; but can the liquidator cherry-pick whose salaries are paid? It's not going to benefit the firm too much to pay my salary, compared with somebody they want to keep on.

Thanks

The news was reporting that at the end of the day all the cash generated in London was wired to NY, with operating expenses supposed to be wired back the next working morning.

Surprise surprise, no cash came back after the Chapter 11 announcement. Reminds me a little of Enron where, according to a mate who worked there, a profitable UK operation was bled dry by the US parent corp and used as a dumping ground for debt at the end.


Barclays are rumoured to be a major recipient of the 'liquidity funds' aka emergency bailout cash from the BoE. Beats me how they can justify buying up parts of a foreign bank in New York that went bust (for $1.75 billion) as almost 5000 jobs in the British operation go to the wall.

Generali

magneto wrote: »

do you total number of people employed world wide by the bank?

26 thousand

GDB2222

blackanchorage wrote: »

Unfortunately none of the UK jobs are saved...

I resigned from Lehmans UK about three weeks ago. It seems that salaries are going to be paid for September; but can the liquidator cherry-pick whose salaries are paid? It's not going to benefit the firm too much to pay my salary, compared with somebody they want to keep on.

Thanks

I think your salary payments are guaranteed by the government. Used to be called the Redundancy Fund. Have a google for it.

blackanchorage

Thanks, the government does guarantee, up to £320 a week. This will help, but it's not enough to cover my bills. Have spoken to Nationwide about skipping the mortgage for a while if I'm not paid :sad:

Thanks