Maplin administration

[Chris M]

Staying off topic and talking about the reduction in British manufacturing I suggest the following:-

British management were lazy and complacent following the war. They did not push hard to innovate. The products made here had stagnated at a time when the rest of the world was moving forward quickly.

British unions couldn’t see that modernisation and improved efficiency actually increased jobs in the long term and so opposed improvements.

School teachers and careers officers in Britain never suggested manufacturing to anyone with academic ability. Engineering was seen as dirty and certainly not a good career for talented individuals. In Germany an engineer is held in high esteem as a professional in the same way as a doctor is here.

The allied bombers did a great job of flattening German factories so, whereas we were using very old unfit buildings, the Germans were using nice new ones designed for the technology of the time. When comparing Rover’s Longbridge factory to BMW’s Munich plant we found that, even in the 1990s, Rover was using a mish mash of buildings some of which dated back to the beginning of the 20th century. I had to explain to my German friends that the flight shed building was used for buildings aeroplanes in the war. My colleagues from Munich told me nothing at their Munich plant had been built before 1950 as everything had been flattened by allied bombing.

In Germany unions have a seat on the board. I think this helps a company to develop sensibly.

 

I’m sure there are other reasons.

[Clearwater]

It is vitally important not to forget that professionals are human and are subject to all the human frailties - including greed and the need to believe they are doing something vitally important to society.

 

Just because someone has a degree or a doctorate does not mean they have common sense.

 

...R

Quite. But is it common sense to dismiss professionals’ opinions? Sure, be sceptical about inherent bias in what any professional says, whatever the field, but to dismiss finance professionals views because you do not approve of their business, is a somewhat odd position to adopt.

[Dagworth]

Staying off topic and talking about the reduction in British manufacturing I suggest the following:-

British management were lazy and complacent following the war. They did not push hard to innovate. The products made here had stagnated at a time when the rest of the world was moving forward quickly.

British unions couldn’t see that modernisation and improved efficiency actually increased jobs in the long term and so opposed improvements.

School teachers and careers officers in Britain never suggested manufacturing to anyone with academic ability. Engineering was seen as dirty and certainly not a good career for talented individuals. In Germany an engineer is held in high esteem as a professional in the same way as a doctor is here.

The allied bombers did a great job of flattening German factories so, whereas we were using very old unfit buildings, the Germans were using nice new ones designed for the technology of the time. When comparing Rover’s Longbridge factory to BMW’s Munich plant we found that, even in the 1990s, Rover was using a mish mash of buildings some of which dated back to the beginning of the 20th century. I had to explain to my German friends that the flight shed building was used for buildings aeroplanes in the war. My colleagues from Munich told me nothing at their Munich plant had been built before 1950 as everything had been flattened by allied bombing.

In Germany unions have a seat on the board. I think this helps a company to develop sensibly.

 

I’m sure there are other reasons.

Most important line in your whole post, would make a huge difference if it happened here too

 

Andi

[rockershovel]

No, it’s simpler than that. Every other Western European country had the opportunity, after 1945, to look what remained of their historic financial and political elite squarely in the eye and say “you have failed us totally. Leave the stage, and don’t return”.

 

This is least true of France, Portugal and Spain. The Spanish government lingered on into the 1970s, as did Portugal, and the results can be seen to the present. France remained... well, France, divesting itself of Empire in a fashion quite unlike Britain, dodging their responsibilities to NATO until the Cold War was safely over, and treating the EU as a mechanism by which Germany underpinned French agriculture and car production forever..

 

Britain, of course, had the lasting misfortune to end the War with its economy ruined, but its political and financial elite largely intact. My late father was given to the view that the mass demobilisations overseas (few units returned home formed and armed) were intended to stave off the threat of revolution. He was often regarded as someoñe who had seen too much of war, but he wasn’t alone in that view by any means.

Edited March 22, 2018 by rockershovel

[Robin2]

but to dismiss finance professionals views because you do not approve of their business,

I have never said that I disapprove of their business. And if I need professional advice about how to operate within their system I would be happy to seek their services.

 

But it is a different thing altogether to expect a balanced view if you ask a professional if his profession should be abolished or curtailed.

 

For example note all the whingeing from the armed forces about cuts in the defence budget. Or NHS types whingeing about the need to give the NHS even more money.

 

...R

[Classsix T]

Quite. But is it common sense to dismiss professionals’ opinions? Sure, be sceptical about inherent bias in what any professional says, whatever the field, but to dismiss finance professionals views because you do not approve of their business, is a somewhat odd position to adopt.

I'm sorry David, as much as the democratic capitalist Socialist I am, it's quite apparent to all but the blind the financial markets have literally run amok without proper regulation. There's something inherently wrong in a society where 1% own 99% of the "stuff".

And whilst I have been ambivalent about yourself and Robin trading broadsides, there are as many "professionals" within or without the financial services sector that absolutely abhor the current dealings the industry employs. Not without reason either.

I don't doubt that your involvement within the industry was totally above board and done properly, many though have been absolutely shafted by first Reaganomics, and then absolute shysters that invented such fiscal "products" as credit default swaps and sub-prime mortgages.

It continues of course with HSBC, Wells Fargo and misselling (fraud) but if the financial penalties are less than the profit made, hey ho! Oh and we're too big to fail. Bail us out.

 

This isn't aimed at you directly David, but your less scrupulous colleagues haven't done you or your business any favours.

 

And with that nothing-to-do-with-Maplins rant, thread locking seems inevitable.

 

C6T.

[Bernard Lamb]

 

Britain, of course, had the lasting misfortune to end the War with its economy ruined, but its political and financial elite largely intact. My late father was given to the view that the mass demobilisations overseas (few units returned home formed and armed) were intended to stave off the threat of revolution. He was often regarded as someoñe who had seen too much of war, but he wasn’t alone in that view by any means.

 

He was certainly not alone.

After the fall of Singapore the establishment had a very real fear that the men would stage an uprising. Educational and recreational courses were set up for the main purpose of keeping the men occupied. Idle minds can breed problems was the thinking behind it. If there was a real and valid fear of the trouble that POWs could cause then the fear of free troops rebelling must have struck absolute panic into some sectors of the establishment.

Bernard

[rockershovel]

He was certainly not alone.

After the fall of Singapore the establishment had a very real fear that the men would stage an uprising. Educational and recreational courses were set up for the main purpose of keeping the men occupied. Idle minds can breed problems was the thinking behind it. If there was a real and valid fear of the trouble that POWs could cause then the fear of free troops rebelling must have struck absolute panic into some sectors of the establishment.

Bernard

There’s an interesting portrayal of this in Kingsley Amis’ short story “I Spy Strangers”, which takes place against the backdrop of a staged “Parliament” which formed part of that programme.

[F-UnitMad]

Well, I saw the "50% off" & "Closing down" posters on my local Maplins this afternoon, and thought I'd check this thread out again, to see what updates there might be, as I haven't looked at it for a few days....

 

So much for that idea!! 

[polybear]

Any warranty won't last long....

[big jim]

i went in yesterday for a look, picked up an led tester, i was going to get some conductive paint as it was in the 50% off bit but it came through on the till at only 20% off so i left it

 

to be honest i'd feel a bit crappy asking for the extra off when the guys in there are looking at being out of a job very soon and i'd be quibbling over £3, i felt ghoulish going in anyway but i have had a fair bit off them and they know me, i feel for one of the guys in there as he got a job there last year after brantano went bust, hope he has better luck in the future

[BlackRat]

I have never said that I disapprove of their business. And if I need professional advice about how to operate within their system I would be happy to seek their services.

 

But it is a different thing altogether to expect a balanced view if you ask a professional if his profession should be abolished or curtailed.

 

For example note all the whingeing from the armed forces about cuts in the defence budget. Or NHS types whingeing about the need to give the NHS even more money.

 

...R

So, you been in the front line then with faulty or deficient kit?

 

Or just unsubstantiated opinion?

 

Prove me wrong.

Edited March 23, 2018 by BlackRat

[Butler Henderson]

Still bemused that some of the closing down prices are higher than previous offer prices; keep on looking at the remote control sockets but the 5 pack is still £24.49 and they have been sold previously for under £20. These are pretty good for use on tower extensions as although the remote has only 4 switching options on the front a further switch on the back activates one of four channels so one remote can work up to 16 remote control sockets. Not seen these on sale elsewhere.

[Robin2]

So, you been in the front line then with faulty or deficient kit?

 

If that is about poor quality defence equipment then I sympathize. But the answer is not more money. Just don't send the soldiers out if the system can't afford the proper equipment. Since 1945 there has not been any occasion when soldiers needed to be sent anywhere outside the UK if there was not enough money for proper equipment.

 

...R

[BlackRat]

If that is about poor quality defence equipment then I sympathize. But the answer is not more money. Just don't send the soldiers out if the system can't afford the proper equipment. Since 1945 there has not been any occasion when soldiers needed to be sent anywhere outside the UK if there was not enough money for proper equipment.

 

...R

I thought not, and the Falkland Islanders for one were quite happy we were needed. Edited March 23, 2018 by BlackRat

[Horsetan]

I thought not, and the Falkland Islanders for one were quite happy we were needed.

Yes, but some are already busily engaged in rewriting history....

[melmerby]

Well, I saw the "50% off" & "Closing down" posters on my local Maplins this afternoon, and thought I'd check this thread out again, to see what updates there might be, as I haven't looked at it for a few days....

 

So much for that idea!! 

My post #149 WAS about Maplin!  

 

Keith

[big jim]

As was mine at #162, I know shocking isn’t it!

[Clearwater]

I have never said that I disapprove of their business. And if I need professional advice about how to operate within their system I would be happy to seek their services.

 

But it is a different thing altogether to expect a balanced view if you ask a professional if his profession should be abolished or curtailed.

 

For example note all the whingeing from the armed forces about cuts in the defence budget. Or NHS types whingeing about the need to give the NHS even more money.

 

...R

Given your comments above on the thread, I think it’s pretty clear you have a highly prejudiced opinion on financial services which is not based on direct experience. You’ve been quick to profer what you viewed as “great” ideas as to how financial services could work. You also stated that you did not like people “trading paper to make profit.”

 

As someone who has spent the majority of my working life in such instituitons, your ideas, whilst I’m sure well intentioned, simply would not work and would create more harm through the unintended consequences of your misguided thought processes. I have sought, I hope politely, to offer my view based on facts and experience as to why what you suggest would not work.

[rockershovel]

... none of this is a new subject.

 

I would refer to the case of Rex v Skelton and Drew, in which it was submitted (by the Attorney General, prosecuting) that the Stock Exchange was suffered to exist only due to inconsistencies in the gambling laws, and that its activities were generally prejudicial to the endeavours of large sections of the populace in their efforts to earn their livelihoods, unrelated to the activities of that same Stock Exchange; Alderman Moody finding in favour of the prosecution, and convicting the two defendants of infringing upon those same Gambling Laws (specifically, conducting their activities in the street outside after closing time)

 

The case was reported by a certain Mr Herbert, often well-informed in such matters.

 

I am unable to establish the current trading price of Anglo-American Hot-Water Bottles, whether deferred or otherwise.

Edited March 24, 2018 by rockershovel

[rockershovel]

Regarding professionalism in the financial sector, the general situation since 2008 would seem to indicate that there is considerable room for improvement in the standards observed, and the outcomes sought.

Edited March 24, 2018 by rockershovel

[Robin2]

Given your comments above on the thread, I think it’s pretty clear you have a highly prejudiced opinion on financial services which is not based on direct experience.

Most people in the more affluent parts of the planet have personal experience of the 2008 financial crisis which was entirely due to greedy bankers. Among other things my pension was reduced.

 

...R

[Clearwater]

Most people in the more affluent parts of the planet have personal experience of the 2008 financial crisis which was entirely due to greedy bankers. Among other things my pension was reduced.

 

...R

So your experience is not from actually working in the sector and understanding the technical issues.

 

I’m obviously sorry to hear that your pension was reduced. However, per my comments above, were issues like market liquidity materially compromised, then the impact on your pension would be worse. Also, to build a pension, you require trading in shares to reflect the different stages of a pension.

[Clearwater]

... none of this is a new subject.

I would refer to the case of Rex v Skelton and Drew, in which it was submitted (by the Attorney General, prosecuting) that the Stock Exchange was suffered to exist only due to inconsistencies in the gambling laws, and that its activities were generally prejudicial to the endeavours of large sections of the populace in their efforts to earn their livelihoods, unrelated to the activities of that same Stock Exchange; Alderman Moody finding in favour of the prosecution, and convicting the two defendants of infringing upon those same Gambling Laws (specifically, conducting their activities in the street outside after closing time)

The case was reported by a certain Mr Herbert, often well-informed in such matters.

 

I am unable to establish the current trading price of Anglo-American Hot-Water Bottles, whether deferred or otherwise.

When exactly was this seminal case you refer to?

 

There is a heap of regulation in place for the trading of securities. I presume you’ve read it all and understand how it relates to the points you make.

[rab]

Can I suggest this discussion on the rights and wrongs of the financial sector be moved elsewhere to allow this thread to return to its origins of the loss of another company and the fate of its employees.