3 Network

Finally!

I managed to get one of those 'value for money' internet connections for the time being. No need for having a landline (everybody knows I don't need that - I can't use up my 'free' minutes at the moment on my cellphone). In fact the only reason I had the line before was for internet!

I should appreciate the way technology is moving so fast even to the reluctantly like me.

I'm still reading the fine print of the long contract I signed today 24 months or pay for the modem as a buy out clause. 3 network is my provider. I was tempted to use my phone as the modem - but decided against it. (Fear of the unknown?)

The catch of course I know is I should not be a heavy user. It's better than nothing.

One of those things

I know the feeling. At least he has shown what not to look for when searching for a coach! To me he seems like the guy who can only thrive when things are going his way - but that wouldn't be life, would it?

But I'm in that same mood especially since a few loose ends need to be sorted out. Simply exhausted and I got to get up tomorrow morning. I wonder what he would put on his CV after Chelsea... I wonder...

Uneventful weekend - by my standards that suits me just fine.
I have not been reading the newspaper (well for the past 6 days) so I'm catching (MAYBE) this week. Before you feel sorry for my cash flow crisis it is not linked to the issues facing Northern Rock. Besides there are numerous assurances from the Government (for those who trust the government) and the independent financial regulator (FSA)

Yes I'm watching the news and mostly pensioners (and I do not blame them) are hurriedly withdrawing their life long savings. But where are they taking their cash? One said he is taking it to another bank. Probably it is a wise move he might know something about this 'other' bank that we do not know about. The CEO of DB was last week challenging other players in the banking and financial services industry to come clean and report on the impact of the American crisis on their performance. I can only wish him the best of luck - sometimes the truth is hard to swallow especially when in a sensitive industry like banking. Rumours lead to panic and next the bank is on its knees.

I guess everyone is interested in knowing who wants to take over Northern Rock it is between a rock and a hard place!

Days like this

Past few days have been kind to me.

I had a brief telephone interview yesterday - fingers crossed I'm staying close to the phone waiting for anything they have to tell me. The downside is the vacancy is far from here - but if the vibe is right it is not like I'm glued to London.

Usually when I receive early morning post there are some that I don't bother opening in the morning - usually bills. So when i got this letter from British Gas I was apprehensive but good news it was a refund for my previous address bills! What do you do with such a generous and 'honest' gesture? I am thinking of sending the company a thank you card you know surprise them - show them that there is one person who appreciates their honesty. I had forgotten about them.

Anyway let the weekend begin I have a cheque to deposit - it is not the amount that is appealing but the thought!

By the way it is a cheque of £0.03 - thank God there are no bank charges!

9/11

That's right 6 years down the line - no wonder I want to go home. Who would blame me? I remember that day clearly I was at Heathrow Airport when the news was streaming in of the attack in America.

Sad to remember a beautiful day in such circumstances. With benefit of a 20/20 hindsight I agree with Al Gore global warming is real. This time of the year it should have started freezing but here I am in just a shirt.

Barclays Bank:

I am facing a credit squeeze – liquidity crisis rather but it is not because of the current capital market crisis or even because of my lack of confidence with the Bank of England. I am just plain broke that’s all and that’s life. Everything seems to be kind of crumbling for Barclays if we are to believe what they are telling us is true. For the second time in a fortnight there has been a hint that the liquidity position of the banking group is not very good after it was forced to borrow BOE emergency lending facility. As expected such antics spread around like wild fire especially for a bank.
Anyway the bank still has a lot of explaining to make – it still has a pending take over bid over ABN AMRO that has yet to be settled – the longer it takes in my opinion the more painful it will be for Barclays.
Even as the bank appeals for calm senior mangers have departed of late – of course that only fuels speculation which is irritating to the bank (what else are we supposed to think?)
Could it be that other banks are enjoying this? This lending happen as a last resort I’m made to understand – it is cheaper to borrow from other banks and it can also be more secretive.

Like Barclays my liquidity position is because of a technical glitch – paying the rent this weekend. The only advantage since I am credit worthy – got collateral – I think someone will bail me out and no need to fear that others will know about it.

Executive Pay:

(The Guardian/RTF survey of executive pay)

This must one of my most cherished topics – don’t know whether I admire the money fat cats earn or just mad like the rest of the critics that I've not been offered such perks. It has been an obsession I remember during my university years I always thought I should write a paper to justify the ever rising executive pay. I mean I did not think Executives could not read public mood and do something about it. I mean either they can see the bigger picture during their Board meetings to reward each other generously or 'we' are just plain simple minded. I (we) just don't seem to get it!

In a 20/20 hindsight – it coincided with the time I felt sportsmen were being paid too much and I thought it was destroying the game I love most (I still think they are spoilt brats and most of them overrated – some things will never change!)
There is bad news for UK bosses – apparently they are not in the premier league with the average management quality in the US far outstrips that in the UK (“Only one in every 50 American firms can be described as ‘very badly managed’, compare that to roughly 1 in 12 in the UK”). Love or hate them but America is still the place to be for anyone aspiring to be a fat cat. A typical CEO earns three times as much as their counterparts in Europe. (Merrill Lynch’s boss earned $91m!)

Talk about being egocentric, the same report also reveals that most managers are deluded when it comes to assessing their own firm’s management performance.

Executive Pay:

(The Guardian/RTF survey of executive pay)

This must one of my most cherished topics – don’t know whether I admire the money fat cats earn or what because I remember during my universities years I always thought I should write a paper to justify the ever rising executive pay. In a 20/20 hindsight – it coincided with the time I felt sportsmen were being paid too much and I thought it was destroying the game I love most (I still think they are spoilt brats and most of them overrated – some things will never change!)
There is bad news for UK bosses – apparently they are not in the premier league with the average management quality in the US far outstrips that in the UK (“Only one in every 50 American firms can be described as ‘very badly managed’, compare that to roughly 1 in 12 in the UK”). Love or hate them but America is still the place to be for anyone aspiring to be a fat cat. A typical CEO earns three times as much as their counterparts in Europe. (Merrill Lynch’s boss earned $91m!)
Talk about being egocentric, the same report also reveals that most managers are deluded when it comes to assessing their own firm’s management performance.

Guinness is good for you

Depending on which side you stand on alcohol this might be good or bad news to you. Nigeria has overtaken Ireland as the second largest market for Guinness according to Diageo the world’s biggest drink company.

The trend has been across Africa making up for the decline in Britain and Ireland (↓7%) according to their preliminary report. If you can remember the TV ads that Guinness used to run then that is the reason the CEO explains is a reason for it's success in Africa – that is where the future lies (these guys are planning on making us drunk!). Africans are drawn to it because the ads imply that the drink is a source of strength and virility.

I know if you got an appetite for this frothy stuff you must be thirsty now.