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Gordon goes to the carboot sale!
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http://en.wikipedia.org/wiki/The_Tote
Nothing new - Gordon's been trying to shift it since 2006, and it was in the manifesto to do it in 2001!
We own a bookies?
The state owns a bookmaker? Why?
How ludicrous. If there's money to be made by selling it, then let's sell it!
What else do we own I don't know about?
Is there a state-owned greengrocers, or second-hand car dealers, !!!!!!?
Sell them all!0 -
The Tote has been a political hot potato in some circles for all my adult life. In recent history, last year? Sale of the tote was raised, then everything went quiet again (and I had a feeling is was discussed earlier in Labour government too?)
The Tote was important when established, essentially it was counteraction to illegal betting, but this time has passed (IMO). Its not the only betting that the Goverment are invloved in..the Lottery of course.0 -
The Tote and other bookmakers used to have a symbiotic relationship with horse racing in the days when there was nothing else to bet on - neither would have survived without each other. The bookmakers used to give as little as possible to racing, balanced by mots of the Tote's profits going back into racing.
The Tote might have been worth upto £400m a couple of years ago, but bookmakers profits have started to fall, partly because of recession, partly because more internet competition.
The majority of bookmakers shops are profitable only because of FOBT's - which are the crack cocaine of gambling and really should be banned (these allow people to play roulette etc. to stakes of £100 per spin).
Now considering that Ladbrokes and William Hill, the 2 biggest bookmakers, have both issued profit warnings in the last 3 months, we can guess that its probably not the best time to sell the Tote.US housing: it's not a bubble
Moneyweek, December 20050 -
The tote seem to be doing rather well, there are more Tote shops on the high street than you used to see, might be a bad time to sell a bookies though, Ladbrokes are in the middle of raising cash because times are hard, so I would think the Tote who are not as well known or innovative probably have a fair bit of debt.
I'd expect somebody like Paddy Power of Victor Chandler to buy it and so expand into more high streets0 -
leveller2911 wrote: »Wasn't it the Dartford Crossing that was supposed to be "Given back" to the people around 6 years ago when it was fully paid for????...
sceaming Labour !!!!!!!s... promise something and then renage on it, still we should have known..
Yep, in 2003. Labour couldn't afford to keep that promise as Brown needed to pay off the bridge loans in his own consituency, so they could be toll free.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
I wouldn't mind buying a student (via their debt). They would be my serf.0
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"The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0
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The tote seem to be doing rather well, there are more Tote shops on the high street than you used to see, might be a bad time to sell a bookies though, Ladbrokes are in the middle of raising cash because times are hard, so I would think the Tote who are not as well known or innovative probably have a fair bit of debt.
I'd expect somebody like Paddy Power of Victor Chandler to buy it and so expand into more high streets
There are more bookmakers on the street because of FOBT's which generate a net profit of £667 per machine per week - and shops are allowed upto 4.
If these were banned (and there is a pretty strong case), you could see the number of high street bookmaker shops fall by 50%.
Still, you can't say Labour hasn't been good for business (if you were a bookmaker or lap dancing club).US housing: it's not a bubble
Moneyweek, December 20050 -
is there something slightly ironic that now gold is at a record high , he daren't sell any . that's if we have any left to sell ,0
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Sell orrfff the monarchy, on a timeshare basis. Should bring in a King's ransom.
I even have a slogan :- "King for a day"
(think I have nicked it from somewhere though..)0
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