Tag Archives: The Times

The Outsourcer’s Furlong

The race is on, we heard last year just how poorly the setting of Interserve was. We all head how Interserve served the people the small fact that they were half a billion (in £) in debt. I discussed it last December (at https://lawlordtobe.com/2018/12/17/one-to-the-hospital-one-to-the-morgue/) in the article ‘One to the hospital, one to the morgue‘, and if the previous financial model applies, there is every consideration that so far another £200 million has been added to the debt. The guardian gives us: “the directors danced around the issue. A “fully consensual” financial restructuring would be preferable but Interserve was “also actively preparing alternative plans to ensure the proposed transaction can be implemented in the event that shareholder approval is not forthcoming”“, and as they very correctly state it ‘What alternative arrangements?

In this Coltrane and Farringdon Capital Management have between them one third of the equity and the message of “the proposed £480m debt-for-equity rescue in which the banks would take control and current investors would be diluted to just 2.5% ownership“, you can imagine that these two campers were not happy. They stand to lose it all if things go pear shaped, the awkward impact of a wrong investment made bare. The fact that these two could stagger it all if there is not a full house (which is the most likely event), could stop everything and as the Guardian states (to be more specific Nils Pratley does at https://www.theguardian.com/business/nils-pratley-on-finance/2019/feb/13/interserve-needs-a-plan-b-given-the-rebellion-over-its-current-plan), a plan B is needed. I personally think that a plan C is equally essential. At present chairman Glyn Barker has his work cut out for him, not only are 45,000 out of the 74,000 employees in the UK and they are waited with baited breath, there are more than two parties that are on the ropes and he needs the bulk to fall in line with his vision. One part is the lucrative Interserve Saudi Arabia. Even as it is profitable now, it is also in demand now, auctioning it off to Salini Impregilo could give them a decent reduction in debt overnight and with matters in Saudi Arabia as they go, Salini Impregilo needs the workforce, they are scoring job after job and at some point the workforce will not hold up to the scrutiny of deadlines. As it includes presence in the UAE, Interserve might want to choose dollars for doughnuts before the stage has changed and all that they can hope for is 10 cents to the dollar, because at the stage where two players having one third push for change, Salini Impregilo merely needs to wait for Interserve parties to become utterly desperate and that given stage is a little more realistic than some players are comfortable with.

If debt reduction is the goal and we see that their Middle Eastern part involves:

  • Hospitality and leisure
  • Oil and gas
  • Retail
  • Transport and infrastructure

I see at least three branches that could be pruned and it is a first step to push Interserve back to their core and optionally into a field where cost becomes increasingly lower than the current balance statements require them to be. A similar view could be held for the US and Asia. I wonder just how profitable these branches are, the total debt implies that it goes way beyond the UK (or the UK part is optionally mismanaged in the most dreadful way). I am not implying or judging, half a billion in debt is doing that for me pretty convincingly.

So as the Times gives us: “The New York hedge fund attempting to derail the £905 million rescue plan at Interserve is nursing losses of nearly 90 per cent on a £25 million bet that the public services contractor could recover without falling into the hands of its lenders“, we also see another side. The fact that we see someone hedging 3% into moving away from the £900 million rescue plan, and losing 90% of their attempt also implies that the tress intensifies. Another view is given by the Financial Times (at https://www.ft.com/content/8cd9d920-2b98-11e9-a5ab-ff8ef2b976c7) with: ‘Hedge fund in Interserve feud profited from Carillion collapse‘, with the addition “Coltrane Asset Management, the biggest investor in Interserve, earned £4m wagering on Carillion’s collapse by selling its shares short“, so why give them any consideration? the fact that they decided to add a 20+% share in Interserve with the assumed and highly likely path to try that trick a second time implies that they have no vested interest in the firm, merely a need for greed. So why cater to that? When we are given: “Carillion collapsed in January 2018 leaving banks, investors and pensioners nursing heavy losses and the government struggling to deliver key services such as hospital cleaning and school meals. Some 3,000 staff lost their jobs, with another 14,000 transferred to other employers, in one of the biggest corporate failures in British history“, we know that this was not the fault of Coltrane Asset Management, yet they had no issue selling it all down the drain as it allowed them to fill their pockets. We get it and we do understand that Coltrane is in it for the money, that is how the cookie crumbles, yet when we see the impact on an optional 74,000 employees, we need to look beyond. It is not like Coltrane is taking over and making it a profitable setting, are they?

We do get that Coltrane is not the actual evil party in this, unless they explored short selling here too, at that point they are on their own. Coltrane is not without teeth, the mere setting of shareholders losing out on their investment will make them gang together and plenty of them are small investors; it is their retirement that is at stake. Scottish pubs tycoon Alan Macintosh is also still an element in all this, the swap would make him massively rich so he is willing to stick with the plan, there are still 6 weeks until the deadline gives us the setting of the battle line that will be drawn, and where that ends is anyone’s guess. yet as the Financial Times points out “People close to Coltrane said it was confident of winning support from the numerous smaller investors — which include Hargreaves Lansdown and Standard Life“, those with their retirement savings in the balance will turn to Coltrane soon enough, some will be scared enough to offer their part to Coltrane at any amount that gives them more than 30 cents to the dollar, giving Coltrane the option to upgrade the size of the bat that they wield in this encounter, leaving the people at Interserve with little to work with, and in light that there is no plan B or a plan C, gives more and more the impression that they never properly prepared for this war, making the outcome of a win for Coltrane against them a rather large likelihood.

So who goes to a war theatre without at least three options ready? Anyone who starts a tactic without two alternative routes handy at any given time is merely on a one way street to defeat. That is not predictive, that is an issue that has been gospel since WW1, I would go further that the Siege of Khartoum of 1884 was another example to that premise. In those days there were thousands of Brits sneering and making fun of Muhammad Ahmad bin Abd Allah, in the end he walked into Khartoum leaving mountains of corpses in his wake. From that setting alone, the board of directors at Interserve have made a few too many really poor decisions, when we add that to the pile, we see that Coltrane is not done, not by a long short and when it falls over, Coltrane walks away with an ox-cart of gold and a fair share of the 74,000 employees will not be that lucky.

Those who want a better stage better find themselves a new deal and set themselves as independent contractors finding new alliances. It might be easy for some where the market is vastly on the rise, but that is merely in a few places where the stage can be set to take control of the projects, making the situation of Interserve a lot less manageable soon enough.

I am merely speculating now, yet consider the projects over the last 6 months.

  • Qatar National Theatre
  • Southwark Council
  • Highways England
  • North Lincolnshire Council
  • Durham University

These are merely a few of many projects where ownership of the project could revert to other players if the pressure on that project is high enough. Those customers will need to seek a solution for their invested needs and there is now enough doubt whether Interserve can fulfil its side of those contracts, the mere absence of a plan B would essentially be enough to facilitate for change if the proper cards were played and £150 million is nothing to make fun of.

But that could be merely my wrongful view on the matter, we will know soon enough.

 

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The way of cowards

This is not the first message we see in the news and it will not be the last. We see the everlasting rumble of facilitation and the need to sweep under the carpet the actions of others and never holding them to account. Last week many in the UK were given ‘Instagram bans ‘graphic’ self-harm images after Molly Russell’s death‘, the article (at https://www.theguardian.com/technology/2019/feb/07/instagram-bans-graphic-self-harm-images-after-molly-russells-death) gives us a scenario that should kick us all into action, yet not in the way that some believe is the right one.

Even as we saw: “After days of growing pressure on Instagram culminated in a meeting with health secretary Matt Hancock, the social network’s head Adam Mosseri admitted that the company had not done enough and said that explicit imagery of self-harm would no longer be allowed on the site“, we should be angered by the words of Adam Mosseri, yet we are not. The image in this is not as simple as it is given, but it should be. 2 days ago we see ‘Instagram urged to crack down on eating disorder images‘ (at https://www.theguardian.com/technology/2019/feb/08/instagram-urged-to-crack-down-on-eating-disorder-images) where the quote: “The Guardian has discovered thousands of hashtags and accounts promoting anorexia, including diaries of weight loss, alarming pictures and comments on goal weights“, we get the advice “Please don’t report, just block,” and that is also the first path where the solution is found. It should instantly apply to Instagram, Facebook, Twitter and all other forms of social media.

The simple solution

You as the poster are responsible for the content you post, you can be prosecuted and sued if need be, if a case goes to court all data and information of the account, as well as its posting history will be made available to the prosecuting parties. You are responsible for the created account and the content posted through it.

It is this simple; those who are on that path of chaos and anarchy must bear the responsibilities of the impact. No matter your age ‘I did not know’ is not a valid defence in court. Your life over, no tertiary education (the fast food industry always needs fresh blood).

It is time that we stop facilitating to social media to grow their numbers any way they can, even as the death of Molly Russell is out now, we need to realise that the matter is worse than: “But critics said the changes should have already been made and remained skeptical they would be enough to tackle a problem that some said has grown unchecked for 10 years“, political inaction and facilitation are a direct cause here and it is time to stop fretting and apply every brake we can. The measure ‘including the removal of non-graphic images of self-harm‘, the poster needs to be dealt with, In case of self-harm it might have meant that the proper people talked to Molly Russel immediately, which now implies that Molly Russel could have been alive today if action had been taken earlier. Those who posted fake alerts might find themselves prosecuted, their equipment seized and they can revert to spending hours reading, their library card giving a clear “no internet access” part. There needs to be a price for the damage inflicted. The response ‘I thought it was fun!‘ will not hold water, we have given enough leeway for the longest of times and we need to realise that the parents are often not blameless either.

Dangerous message!

So as we are given: “young people also faced being confronted with pro-anorexia images” we need to be extra alarmed. So when we are confronted with that slogan, how can this be seen as “an ascetic Journey“? If we look at ascetic we see “characterized by severe self-discipline and abstention from all forms of indulgence, typically for religious reasons“, yet most of the younger people will have considered that they meant aesthetic which means “concerned with beauty or the appreciation of beauty”, what I would call miscommunication through words that sound alike. You see, ”abstention from all forms of indulgence“, does not include do not eat what your body requires to stay healthy, because the message bringer was pretty clear of remaining in the dark to what constitutes indulgence, and whilst we see: the element of “more than is good for you” to be ignored, we see the sliding scale of danger towards that persons health. So even if we agree with “There is a social obligation and whether there is also an industry obligation is an important point that is coming out at the moment as well.” We see that in the end, the poster is not held to account and whilst we look at the statement of images, it is clear that there is every change that the slogan is kept online, which is more dangerous as slogans can become meme’s in the mind of the troubled person hammering second after second until it grabs hold in daily life. The damage is done!

When we set into law the prosecution of the poster, we also see a first step into resolving the state of cyber-bullying, these cowards are hiding in the shadows, feeling that they have fun, yet when the data becomes available for prosecution as they can no longer delete their activities, we see the impact of their fear reversed, we enable the bullied to go after those bullies. These people will now step into the spotlight and they tend to not like it at all.

All elements solved by properly holding the poster to account and that is what most social media fear, because when accountability comes into play posts decline by well over 30% and that is the fear of social media, to be made responsible is also to be made less flammable and social media grows with every online flame, it is a consequence of participation and when there is an emotional flame everyone wants to participate and have their say in it all.

It is Jade (19) who gives us more in the Guardian, who at age 11 engaged in “When my eating disorder and depression were at their worst, I scoured apps like Instagram to find these images which only worsened my self-image. At this time the posts were few and far between. Clearly the amount of images is now vast across almost all social media platforms,” Now we can understand that this is not the fault of social media that people ignore age requirements, yet this is the common issue that has been around for too long, so when we see “It isn’t only Instagram that is riddled with these potentially distressing images, sites or apps like Tumblr, Pinterest and Weheartit are also full of these posts.” we see the stage where the poster needs to be held to account, we see the stage that has been avoided for a decade and all the players know that they have been avoiding the stage. Now there is a new trend, the image of cutting, even as some sources are about the dream, about: “Cutting oneself indicates family problems“, it is now linked in several ways to self-harm and as such the picture becomes less and less transparent to resolve, yet the first option, hold the poster to account is still there and this path has been avoided for close to a decade, the question becomes why?

Age is no longer a valid point, the transgressors had no issues lying about their age, as such they need to directly feel the impact as they throw away their lives, it puts them and their parents in the picture, it needs to become about this as overworked parents all rely on giving their child a tablet or mobile as a toy so that they can be quiet as they are too exhausted, all replacement towards the failure of raising a child (in some cases). In other cases it is the lack of discipline and peer pressure, it has to stop, holding the poster to account has become an essential first step. There is a secondary need to do this, we see in some parts of the world how social media is used to spread extremism (Indonesia), how long until they start looking for tools to do their work for them? How long until we start seeing the impact of “extremist network Jamaah Ansharut Daulah (JAD), which has pledged allegiance to Islamic State (IS)“, via a fictive 17 year old boy named Kevin living in Springfield (IL) or Richmond (Vi)? He’ll tell you that they gave him a cool video game for promoting and retweeting something he could not read, and his classmates all did the same because Kevin got a really cool video game, that was money in the bank. For the JAD in the end it would have been money in the bank all that visibility for $59 (plus shipping), Google Ads could not have given them a better deal ever. The federal investigation teams will unable to untangle that mess for months, the perpetrators will have moved on weeks before.

That is how I see it!

We need to change gears on all social media fronts and holding the poster to account is a first step. To remove dangers form people like Molly Russell is a first, but it goes beyond that. Even when we see the sceptical foundation of: “Speaking on BBC Radio 4’s PM programme, the digital minister, Margot James, said the government would “have to keep the situation very closely under review to make sure that these commitments are made real – and as swiftly as possible”” people like Margot James and her various international counter parts need to realise that it is way too late for ‘keep the situation very closely under review‘, it is over half a decade too late already, we need to change gears and make a first step towards holding posters accountable for what they post, when it results in fatalities a freedom of expression will not hold water and even if the court decides to do just that, the people have a right to know who that poster was. It gets to be even worse when we consider the factor that Apple played in all this. Their part is less easy to see because privacy is set and at times privacy is just that nobody’s business, yet when it results in the death of a 14 year old and it was a cyberbully that was behind it all? Should Apple be allowed to protect the identity of the murderer? It is not an easy matter and some drawers should justifiably be kept closed, yet the image still remains and that too is a moment where the poster could have been held accountable and holding them to account might have stopped a worse matter earlier on, it was not to be the case.

I believe that dozens of lives could have been saved if political players had acted a lot earlier and a lot more decisive.

 

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Three privacies walked into a bar

It is not merely the beginning of a bad joke; it has become a distasteful one. Now, for the most I have never really been against social media like Facebook, as it was free and nothing comes for free. Yet in this, I have always advocated and expected certain levels of decency. The Guardian revealed two days ago that large levels of decency have been trampled on to a much larger degree than ever contemplated, and the people remain silent. The people are so uppity uppity on possible transgressions by governments seeking criminals and terrorists, yet they will allow for any transgression towards greed and exploitation, how can we accept any of it?

  1. Show us your tits

It is an old expression, and I heard it first somewhere in the early 80’s. It broadly represents: ‘What have you got to offer?‘ Mostly used by people with absolutely no adherence to either diplomacy or good manners (unless a guy makes the joke to a good male friend). It is the first part in the stage that the Guardian offers in an article (at https://www.theguardian.com/technology/2018/dec/19/facebook-shared-user-data-private-messages-netflix-spotify-amazon-microsoft-sony) where we see not merely ‘bending’ the rules; it is the breaking of basic rights towards privacy that is now out in the open. Even as we accept to the smaller degree: “making user data available through loopholes to companies including Amazon, Microsoft and Sony“, can we even contemplate the impact that we would have to face through: “Facebook gave Netflix and Spotify the ability to read and even delete users’ private messages“, the fact that these two were allowed to ‘delete’ messages is crossing a line the width of the grand canyon and the fact that those fruits and nuts on Capitol Hill (aka Senators and Congressmen) are clueless in their interviews, showing one stupidity tainted example after another and questions like ‘giving away rights to delete private messages‘ remained largely undisclosed shows just how useless the elected officials have become towards the larger fields of technology.

  1. Merely the tip, or can I shove my whole penis in there?

A small reference to the comedian Jimmy Carr, who once stated: “I can’t get a word in there, let alone my cock“, and that setting gives us the New York Times view of: “Facebook allowed Microsoft’s Bing search engine to see the names of virtually all Facebook users’ friends without consent, the records show, and gave Netflix and Spotify the ability to read Facebook users’ private messages” (at https://www.nytimes.com/2018/12/18/technology/facebook-privacy.html#click=https://t.co/p565d1TX5L). As we contemplate: “Acknowledging that it had breached users’ trust, Facebook insisted that it had instituted stricter privacy protections long ago. Mark Zuckerberg, the chief executive, assured lawmakers in April that people “have complete control” over everything they share on Facebook“, we see a much larger field opening up. We can think on one side that Mark Zuckerberg had become clueless on what is going on, or he remains intentionally silent on what he believes are personal rights of privacy, the mere realisation that Facebook acknowledges that not one user on Facebook has any rights to privacy is at the core of this stage. It goes further with: “the deals described in the documents benefited more than 150 companies — most of them tech businesses, including online retailers and entertainment sites, but also automakers and media organizations. Their applications sought the data of hundreds of millions of people a month, the records show. The deals, the oldest of which date to 2010, were all active in 2017. Some were still in effect this year” there is a clear transgression going on, and it is merely speculative on my side when we considered the impact of Bing and Microsoft. They have become so afraid of what Google has become that they are willing to stage new settings of alliances against whatever fictive war they face, the innovations that Google has brought and the innovations that Chinese player Huawei is bringing is scaring these large players beyond belief. If they cannot get up to their imaginative version what it means to be ‘on par’ they feel that they will be considered as derelict and considered as merely trivial in the 5G field. That is a much larger realisation and people need to be aware that as they contemplate of what it means to be a major player in the 5G field, the mere perception that they are not that, that they have lost the trust of the people is a much larger hurdle.

The NY Times shows that part in their article with: “Mr. Zuckerberg was determined to weave Facebook’s services into other sites and platforms, believing it would stave off obsolescence and insulate Facebook from competition. Every corporate partner that integrated Facebook data into its online products helped drive the platform’s expansion, bringing in new users, spurring them to spend more time on Facebook and driving up advertising revenue. At the same time, Facebook got critical data back from its partners“. We could contemplate that this is optionally the Ponzi version of a data scheme, but it is as I personally see it more sinister than that. You see, the lower levels would never advance to a higher level and the data would merely flow up to the tip of the pyramid, leaving the rest as mere exploitable facilitators in all this.

  1. Supply Filofax’s to the Russians, it is very organised crime

There is one additional part in all this that could be the beginning of the end for Facebook, as the NY Times gives us: “Facebook, in turn, used contact lists from the partners, including Amazon, Yahoo and the Chinese company Huawei — which has been flagged as a security threat by American intelligence officials — to gain deeper insight into people’s relationships and suggest more connections, the records show“, we are introduced to a much larger issue. Not only has the US been unable to prove the lie (read: non-truth) that Huawei is a National Security danger. We see the makings of the fact that American Corporation (read: Facebook) has been handing over the data voluntarily. As a business solution, Huawei had been able to see where the interactions were the largest and also predict where hardware and software would make it a much better regarded update for consumers, the fact that this data became available gives the first rise (after shown levels of non-comprehension) that technology firms are replacing politicians, politics and policy making them useless as these technology firms have been setting the beat of who gets what data and at which price, yet the US government is not allowed access, not when it can be sold at $14.99 per kilobyte of raw data.

This remains an evolving field and it is not until we get to the part “Apple devices also had access to the contact numbers and calendar entries of people who had changed their account settings to disable all sharing, the records show. Apple officials said they were not aware that Facebook had granted its devices any special access. They added that any shared data remained on the devices and was not available to anyone other than the users“, so not only does the new iPad pro bend under the smallest pressure, which Apple claims is normal (something the consumer was not informed about), we see that the ignorance of their own technology is now a much larger issue all over the playing field. the mere fact that disabled sharing of data still allowed for sharing is an architectural failure of much larger proportions than ever contemplated. In all this data sharing in Huawei devices remains unproven and in all this it seems that Google is not the black sheep some proclaim it is, all whilst Facebook is showing to be without ethics, without regards and without morals, so at what point will we relabel Facebook to Faecesbook?

So as the article ends with: “How closely Facebook monitored its data partners is uncertain. Most of Facebook’s partners declined to discuss what kind of reviews or audits Facebook subjected them to. Two former Facebook partners, whose deals with the social network dated to 2010, said they could find no evidence that Facebook had ever audited them. One was BlackBerry. The other was Yandex” gives a much larger rise to the lack of privacy that up to two billion users have not had for the longest of times. We could argue that it is in the interest of Google, to fix Google+ and allow people to port away from Facebook. When we look at the two players, it seems that Google+ is not nearly as dangerous as Facebook is more and more showing to be. Even as we are considering that Washington DC is suing Facebook, the realisation we get from: “Washington DC has sued Facebook for allowing the political consultancy Cambridge Analytica to gain access to the personal data of tens of millions of the site’s users without their permission“, when we set it against the stage that the guardian, the Times and the New York Times have shown the people. We merely have to print the log of all data shared and number all instances of data transgression will optionally show Facebook to be the most reckless and unethical corporation in the history of technology, that is quite the achievement, and it works for Microsoft as they might proclaim themselves to be saints in a tar pit.

When we consider the quote: “According to a letter that Facebook sent this fall to Senator Ron Wyden, the Oregon Democrat, PricewaterhouseCoopers reviewed at least some of Facebook’s data partnerships“, we see a massive failure by Facebook to police and protect the data of others, and as we already know, those who have the latest mobile phone, we need to realise that this is no longer a mobile phone, the latest phones and the ones for 5G are no longer merely mobile phones, they have become personal data servers and as we are seeing the impact where Facebook has made most of all that data shareable, with people you never agreed on having access, in how much anger will you be from January 1st 2019 and onwards? For me it works out nicely, it merely increases the value of my new IP, which is currently on the rise to a much larger degree than even I contemplated. 2019 might be finally be the year where my life turns largely to the better and at present I feel a lot safer handing that IP to Huawei than to anyone else, that is one reality that Washington DC has shown to the largest of degrees (Mountain View remains a strong contender for now).

The only part in all this is why large parts of all this was not shown clearly in the senate hearing of September 2018. Just contemplate this weekend, what else did that so called Senate hearing not figure out, and how unsafe would you like your personal data end up being in 2019?

 

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One to the hospital, one to the morgue

It is not a setting, not a statement; it is merely the observation of what we see happen. Yet the question becomes who is who? It is a setting of placing Interserve next to the Cardigan Integrated Care Centre that is where we see a situation evolving. And it would not be a London project that is in danger, would it?

Why the situation? It is the timing, even as everyone is still ‘working with’ and ‘LOCAL health board officials are confident that Cardigan’s new £24m health care centre will not be affected by the financial problems of outsourcing company Interserve‘, I am less certain that this will not have an almost deadly impact on the project. The article (at https://www.tivysideadvertiser.co.uk/news/17301424.interserves-problems-should-not-affect-cardigan-integrated-health-centre-project/) gives the people none of that and as far as I read the article, there is nothing there indicating the views I have, yet the setting is already staged to become worse, much more worse I might add. That is an easily given fact as the project is not due until the end of 2019.

You see, the article also gives us: “Interserve is responsible for delivering the project but there are fears over its future after it confirmed it was in rescue talks that would see retail shareholders virtually wiped out and creditors take control. Yet that is not the directive part in all of this, and the article (through no fault of it, or its writer) gives that part to the reader. You see, that part we get when we contemplate ‘Struggling Interserve may hand construction unit to lenders‘ (at https://news.sky.com/story/struggling-interserve-may-hand-construction-unit-to-lenders-11581667). the first question that rises, if there is such a debt, why would we see: “drawing up plans to hand its £250m building materials unit to its lenders as part of an ambitious plan to secure the company’s future“, which is a choice, yet when we see another article also giving us: “Outsourcing giant Interserve is preparing to spin off its lucrative building materials division in a bid to reduce its debts“, so why would a ‘lucrative’ part get sold off? Lucrative clearly implies the part that allows for a much quicker turnaround and in absence, that lucrative part used to keep the lowest bidding in place will also (optionally) drastically increase the cost of projects when it falls away and that is where the Cardigan health centre find itself optionally soon enough. We might think that ‘RMD Kwikform makes equipment used to build concrete structures‘ is no indication, yet this equipment is often merely leased per project and a new owner implies new (or additional) fees or another destination for that equipment, changing the entire setting of the project and experience, as well as history taught us that a board in trouble does not tend to care too much about their running projects.

Am I correct?

That remains to be seen, because there are several factors in this that are unknown, yet the setting that the project is a year away implies that there are plenty of stages uncompleted and they are therefor at risk. The fact that this news is 2 hours old means that there is no given setting, yet the large impacts will be seen in the next quarter and that is when the pennies drop for several projects, the question is on how the stage will be maintained.

The fact that Interserve stock has been reduced by 45% and when we consider that the Interserve board is close to a month away from revealing its plan, as well as the fact that this thunderstorm has been looming for over a month does not help matters.

From another source

The Financial times is giving us another setting here. With ‘UK government to continue awarding contracts to Interserve‘ (at https://www.ft.com/content/03f63e62-fd41-11e8-ac00-57a2a826423e), we saw that the government last week was setting the stage for Interserve to get some deals going as these projects mean money and money coming in is always a good stage to continue the work. So when I see “Government sources told the Financial Times that it does not view the company as another Carillion— the contractor that failed in January — and that it would consider Interserve for further tenders“, we should consider it as a partial truth, when you are down in a debt that soon will be pushed towards an approaching £1,000,000,000 (as I decided to round it towards the worst case scenario), we need to realise that something has gone terribly wrong, That amount approaches to the annual income of 32,000 construction workers, and their pensions, so there is another side to investigate soon enough (although we do acknowledge that the Interserve pension is high in the green).

Are we overreacting?

That remains to be seen. The fact that this large a debt is an issue on something this big needs to be scrutinised in several ways, not merely what is to come, but how come the debt is there in the first place. Improper pricing, inefficient project management, wrongful costs are all stages here that pushes additional costs through the roof and that is where it all hurts, and without proper vetting the pain remains and we will see additional projects operating at a loss. that part was given by Construction News in April this year when we got ‘Interserve suffers £244m loss for 2017‘, the quote “an “inefficient operating model” with high overheads had left the firm “exposed to weaknesses” in the support services and construction industries” by chairman Glyn Baker is clear enough, the wrongful setting and we see an amazing growth of losses and debt. the fact that we were given the implied “Interserve said the business will need a “significant de-leveraging event” to stay viable, which would likely be an asset sale, or raising further equity before December 2020“, which against ‘cut costs by £15m in 2018, and is on course to add £40m to £50m to operating profit by 2020‘ sounds almost like a joke, to with a debt over 800 million (conveniently rounded to a billion by me), we see the mention of “limiting the cost issue by 1.8%, whilst adding debt reduction by 5% in two years’ time is exactly the message in a stage how we should read it, A Joke!“, oh and that is all whilst in those 7 months £300 million was added to the debt, is anyone waking up yet?

In all this, Interserve has gone from bad to worse from 2015 onwards, all whilst some might expect that with Carillion out of play, options for Interserve should have opened up, no matter how bad the market was, one larger player was removed.

Round 2 is worse

The audience has been avoided getting exposed to certain parts of the business, we might not have realised it, yet that part is actually given the limelight by the Investors Chronicle (at https://www.investorschronicle.co.uk/alpha/2018/12/13/interserve-the-warning-signs-were-ignored/). You see, I saw certain parts a month ago, but for me, it was partial news as I never looked at Interserve before. So when we are given certain points, and I am merely leaving the ones that matter:

  • Low profit margins.
  • A reliance on acquisitions and cost cutting.
  • High debts both on and off its balance sheet.
  • A big pension fund deficit that needed large amounts of cash flow to reduce it.
  • A difficulty in converting operating profits into operating cash flow – a classic sign of poor profit quality.
  • The need to sell assets in order to maintain and grow dividend payments.

At what point did we not consider the massive danger Interserve was in? The events that I have been able to track go back to early 2016, The Financial Times in May 2016 and the Independent in August 2016 give us some of the goods, in addition there was Forbes in 2017: “Overruns lead to £70m charge for construction and services group“, as well as “The Reading company advised that a tight control of working capital across the rest of its business last year substantially offset the adverse cash impact over at EfW. Consequently net debt clocked in at between £270m and £280m as of the end of 2016“. It is the fact that we see a clear level of inaction (or bad management) that gives rise to the situation, the fact that these issues were clearly in place almost 2 years ago, gives rise that the government had a clear duty to intervene to some degree, that level might be up for debate, yet the ‘let’s leave it for now’ and the presentation (at https://www.interserve.com/docs/default-source/investors/financial-reports/presentation-results/2018/h12018-results-presentation.pdf) now give the consideration that there is every chance that shareholders might be seeking legal counsel. You see Interserve ‘presented’ the so called facts: ‘Fit for Growth initiatives delivering savings and creating a simpler, more effective Interserve‘, as well as “Overhead reduction and efficiency measures to deliver £15m savings in 2018“, gives serious contemplation that the shareholders were not properly informed of the dangerous place that they were in at that meeting in August 2018. In addition, slide 20 gives rise to another contemplation; the fact that two posts (Manufacturing and Regulated industries) are set to a marker size of £22 billion, 2 out of 7 mind you, and we see the losses incurred, we see additional worries on management and pricing. Even at a 1% margin, we should see £220 million in the plus for these two alone, the fact that the overall is set to minus £800 million, and a mere positive move of up to £50 million is a much larger debate and as such, one might argue that there is a lot more going on in the negative of Interserve that we might think.

Baskets of fruit

In opposition to my own view, I am in several ways comparing apples, pears and oranges and merely labelling the items as fruit, which in itself is not correct either. However, from my point of view, I see a tradesman dealing in 22 billion pieces of fruit and when left with a certain minus to this degree gives clear indication that the entire business model is wrong on a few levels giving additional worries on the earlier reported premise of ‘The need to sell assets in order to maintain and grow dividend payments‘, the conceded view that selling of your land year after year just to look good implies that the farm devaluates with every year and when we see that this has happened from 2016 onwards, the signs given should have been louder by many players and that (to the best of my knowledge) has not happened.

The Coroner is in the house

When we consider the elements, we can also give rise to what needs to happen. If Interserve continues on this path, there is every indication that we see sell off after sell of, with an optional class action against Interserve, implying that the damage increases, so those projects set for delivery in late 2019 and 2020 (A Wales health centre for example) will find themselves on the coroners slab whilst the media looks at the intestines coming to the conclusion that at present there was no way to save the patient, and when we see that, how will that affect the £25 million Merthyr’s Prince Charles Hospital in Merthyr Tydfil? These two are close to £ 50 million, something will have to give and where will the government spring in when they have to? Will they do that? This does not mean that this situation explodes to that degree, but the signs of patient Interserve are not that great at present. And should there be an interception to protect these two projects, does that imply that Interserve is ready to be shipped to the morgue?

That is the foundation of it, because the stage we see now implies that you can save one, but not both. The stage to the degree as I am seeing it should not allow for it in the first place; it does open up new options that as Interserve breaks down we will see new players come to life, perhaps one per construction project, yet that too has the danger of costs going overboard in a large way really fast, that is the nature of the beast, merely because the largest players implying to have the costing down to a margin is a mere 1%, smaller players can never do good on that promise, showing us that costs will overrun on all projects by a fair bit. To see that in a much more local London setting we see places like the Aecom tower and the stage where ‘overly enthusiastic‘ contemplation was set until we got: “profit was “lower than expected due to the losses taken on an underperforming project in one of the company’s core market segments”“. This matters, there is a speculative approach to construction projects and the stage is not merely on how things are pushed, it is on how pricing models are staged and presented by all and that requires a much larger oversight, or better stated, it needs additional scrutiny on a few levels. There is a stage that clearly is part of the Interserve failure. Even if the ‘new’ model implies that we might optionally see: “the tower will now house 861 apartments of which 765 were for private sale, the adjustment now allows for a private sale of 813 apartments“, screwing over even more social housing points. If that is allowed, certain councils should be overhauled and those parts of the stage allowing for that should be required to be facing the dock and optionally dismissal of the project as well as the investment amounts to be considered a total loss. There is a lot wrong in this entire stage and it all started with optional pricing models that were seemingly not realistic in the first place. Carillion clearly showed that element as I personally see it and whilst the board of Interserve is contemplating what to do over the next few months, they to require a level of scrutiny that is a lot larger than anything we considered before. The Greenland Group and Aecom, merely illustrate that what we are seeing in the Battersea Power Station debacle as well as a much larger stage of construction jobs out there (Interserve pricing anyone?).

So when the Financial Times gave us merely a day ago: “A refinancing arrangement between its Malaysian owners has been delayed for the third time; the cost of labour and materials is increasing; the developers have more than halved their expected returns and there are disputes with Transport for London over the cost of the Northern Line Underground extension to the area“, we see that the pricing stage for construction companies (as we clearly see with Interserve) is a much larger concern, we could argue that someone is dampening the cost and margin part merely to get things started and in that trend, we might need to consider other avenues. Perhaps consider nationalising projects in this stage and those shareholders and investors will have to live with their 100% losses. Why leave this level of unacceptable pressure on taxpayers and governments?

And the fake messages of keeping Britain good for investors also required those pricing goons to consider that it comes at a cost. If the players cannot do their job, then those hurt must seek legal consideration against those firms using flaccid pricing models, making matters worse for Interserve, but should we actually care at that stage?

There is every consideration that Interserve goes to the Hospital whilst the projects in wales go to the morgue, but personally I do hope that it is the other way round, as the Battersea Power Station project implies (and a few more beside that); the entire problem on construction has been around for close to 5 years, implying in my personal opinion that these problems started long before Interserve was in the deep financial problems it currently is in, giving rise to several issues that require discussion in the House of Lords at the very least, and perhaps starting the discussion of that agenda no later than week 2 of January 2019 would not be the worst idea as I personally see it.

Do you want to see an avoided discussion on how a health centre went to the morgue no matter where it was supposed to be built?

 

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Smite the analysts

It is time to change the game. It is time to do a lot more than merely claiming to do something about fake news. I never claimed to bring the news, I have merely been in the process of nitpicking it as much as possible and the Guardian got my feathers plenty ruffled this morning, so it is time for me to be a little speculative of the matter.

We love our idiot products at time; it is something to laugh at or something to make a joke about; for the most harmless fun. Yet today something snapped. It might have been the abuse that Theresa May has been receiving, it might have been watching some poor sod holding a ‘We’re poorer without EU‘ sign, whilst like me that person is unlikely to have any economic degrees.

So when I see: ‘Theresa May’s Brexit deal could cost UK £100bn over a decade‘ by Richard Partington (at https://www.theguardian.com/politics/2018/nov/26/theresa-mays-brexit-deal-could-cost-uk-100bn-over-a-decade).

I hereby make my first demand (do not worry, no one will listen anyway).

In regards to: ‘People’s Vote-commissioned study says loss is equivalent to annual output of Wales‘, I DEMAND a full disclosure of the names of the people involved as well as a clear documentation of all sources used. this includes the names of those in the ‘People’s vote’ those who commissioned the study, the price paid for the study, as well as the names of those who made that report (not just the three who wrote it), the data sources used as well as how the report was set to the data and its results. I expect to find a dozen flaws in the very least. In this case any arbitrary choice (which at times is perfectly valid), should be seen as a flaw, unless clearly stated as such.

It is time to hold these people up to the limelight exposing what the Guardian (and many other newspapers) are giving voice to as being ‘the facts’. I would like to go as far as prosecuting (to some extent) the makers of these loaded and dubious reports by banning those names from any governmental research for life! When that happens, we will get all kinds of excuses and well phrased words or denial. Yet, I feel that we have come to a point where these activities can no longer be tolerated. Not by any government and not by any organisation with political aspirations, or connections.

The reality here is that the UK will lose income, lost funds and lose options for the short term. This has always been known. We always knew that things would get a little worse. Yet NOONE is making any call on the waste of three trillion euro’s by the ECB on their Quantative Easing and the waste of now close to three trillion that the taxpayer has to pay back, whilst people like Mario Draghi walk away with a ton of money, a member of an elite banking group of 20 and no accountability to anyone. The media refused to hammer on the ECB on any of it and the lack of clarity and transparency that the ECB has. This happened in full view whilst they all had 50+ articles on the death of a journalist no one really cared about (aka Jamal Khashoggi).

My larger concern is seen in: “Garry Young, the director of macroeconomic modelling and forecasting at NIESR, said: “Leaving the EU will make it more costly for the UK to trade with a large market on our doorstep and inevitably will have economic costs.” The NIESR report found May’s deal would not be as damaging for the economy as Britain leaving the EU without an agreement, which would cost the economy about £140bn over the next 10 years.” From my personal point of view, these people are in it for themselves, most of them are. Even as I will immediately admit that this report looks actually valid and good, issues come forward to a degree that might not have been seen at the beginning of it all, yet the scrutiny after the report is also lacking making the issue larger. What some call ‘lucrative European contracts’, we see a lack of investigation on both sides of the isle in all this, because as a Brexiteer, I will never deny a Bremainer to voice their opinion, or their opposition to it all. It is the acceptance of democracy that demands it from within me. The UK has not really profited from the EU, merely large corporations have and that is actually the biggest issue with the entire EU at present. When we look at the 68 million consumers, many of them have not been able to afford any of it. The bulk of all of us are dependent on moments like Black Friday to get the hardware we normally cannot get. It is a known issue that the quality of life is still low all over the UK and in many other places. The only true beneficiaries of the entire EU setting are the large corporations. The local grocer sees no real benefit, whilst the large supermarkets have all these deductibles that for the larger extent benefit its board members, not the customers. People like Gary Young are eager to make mention of ”inevitably will have economic costs“, which is a truth; I and many realistic others do not deny it. Yet in equal measure we can move away from a multi trillion bond buying scheme that has done nothing for the people whilst making the banks fat and rich. Never before in the history of mankind did the banks and Wall Street have such a large hold on governments and its citizens and we sat down and let it happen. Brexit is for the UK the first step to undo that damage and it will take time, we all get that. So as we realise that the ECB failure, in part to unmanaged ‘freedoms’, lack of transparency and accountability has greatly impacted the UK, at that point will we realise that there is a weighted and loaded stage against all of us, in every EU nation. The second part in all this is what some call: ‘the EU gravy train’, I have made mention of it on a few occasions and the lack of actions in that regard is close to sickening. Even The Times gave us some time ago: “MEPs are clinging on to lavish, tax-free handouts for travel despite publicly pledging to repay them, according to an internal report by the European Parliament. They have kept an estimated €6million (£4 million) after promising before the 2004 elections not to claim the money. “They get exposed, promise to be modest and then keep riding the gravy train. It is appalling,” said Hans-Peter Martin, an Austrian MEP, who has led a campaign against abuse of expenses. The €60 million-a-year travel allowance system is so generous that many MEPs admit it amounts to legalised embezzlement of taxpayers’ money. MEPs are paid a first-class air fare for travel to the parliament, even if they use budget airlines. They make an average of £20,000 a year tax free“. We can agree that in that meantime something was done, yet how much was done? The taxpayers have to come up with 751 times £20,000, giving us a total of fifteen million pounds and that is only the travel item every year, one of a lot more items, so how much extra are these people getting? The simple fact that many of these issues have not been adjusted for over 12 years is a clear stage that the EU is the goose for exploiting extra income and benefits, something taxpayers never signed up for in the first place. Even now (8 weeks ago) we see: ‘Details of MEPs’ €4,416-a-month expenses to remain secret, court rules‘ (at https://www.theguardian.com/world/2018/sep/25/mep-expenses-eu-court-ruling) with in addition: “MEPs are also refunded first-class travel expenses and get a €313 daily allowance for hotel and living costs when working in Brussels and Strasbourg“, which in the most optional stage grants them an additional £60K each, adding fuel amounting to £46,562,000 to the tax payers fire. I think I have made my point, did I not?

When Brexit is done and we start seeing the impact, I predict it will be less than 2 years before the complaining starts, not from the UK, but from the other nations that now have to pay for the part that the UK will no longer be paying for and that is the ballgame here. When that happens, and it will we will see a rejuvenation by both France and Italy wanting to get out as fast as possible leaving merely Germany as the large economy to carry the weight of the EU and they will not be able to do this and it will all collapse. That is not a speculation; it is a certainty as I see it. It will only need one of those three to join the leave team and it will already fail. In light of all that is happening it seems to me that Italy is now the frontrunner before France, yet that might be what the horse lover calls a nose length photo finish. It was almost two weeks ago when French Marine Le Pen gives us almost the same view in the Daily Herald with: “French far-right leader Marine Le Pen is blaming the policies of the European Union for Britain’s exit from the bloc. “If the EU wasn’t what it is now, the United Kingdom would still have been a member of a structure that respects the nations, the people, that doesn’t impose migration polices and deals that have very heavy consequences on our industries and agriculture,” Le Pen said Friday at a news conference in the Bulgarian capital, Sofia.” It was for the most what pushed me into the Brexit field a few years ago; even as Mark Carney, Governor of the British Bank and his presentation in the House of Lords gave me reason to doubt that, the acts of stupidity by Mario Draghi and the ECB pushed me straight into the Brexit field, supporting Brexit. A situation that had been known for years, yet in light of 751 beneficiaries nothing was done to keep tabs on it and Brexit become a fact.

So as we accept the setting (via many sources) that Marine Le Pen is giving through “the EU wants to punish Britain by imposing “conditions that are unacceptable to a large majority of the people in the U.K. and to members of the British government.”“, we have seen several parts of that in the media. Is it not interesting how infantile the EU gets when you do not want to be a member? They threatened Greece to throw them out, whilst there was no legal option for the EU, and they demand the impossible from those wanting to leave. In that setting, who wants to remain a member? I would go with the speculation that the EU is for: ‘those who needs the power of exploitation‘.

It is getting worse

In this we look back at Greece. Some might remember the big boast that Greece made. I mentioned it in my blog: ‘They are still lying to us‘ (at https://lawlordtobe.com/2018/06/23/they-are-still-lying-to-us/), so when we were treated on June 23rd to ‘Greece ‘turning a page’ as Eurozone agrees deal to end financial crisis‘. Here Alexis Tsipras was happy to be quoted with: “Greece is once again becoming a normal country, regaining its political and financial independence”, we saw none of the EU reservations in a claim that was off by decades. I also commented in favour of the Greek opposition shown by Kostis Hatzidakis with: “The opposing party reacted to the credit buffer with ‘Kostis Hatzidakis said it reflected the lack of faith international creditors had in Athens’ ability to successfully return to capital markets.‘ And in this Kostis is right, the international markets have zero faith in their return, they rely on a small thing called mathematics and the clarity there is that the scales are not in the favour of the Greeks.” Now we see a mere four days ago ‘How Greece Is Scrambling to Save Its Banks — Again‘, the EU has become this short sighted, this convoluted in misrepresenting the facts to the people. So as we see: “Greece is scrambling to figure out how to save its banks — again. Burdened by bad loans that make up almost half of total lending, crippled banks remain one of the biggest hurdles to Greece’s economic recovery. There are even worries that the country may face yet another financial crisis if it can’t dislodge its lenders from their downward spiral. With bank shares tumbling, the government and the Bank of Greece are working on plans to help banks speed up efforts to shed soured loans” and this comes one day after: ‘EU: Greece has Not Implemented 16 Bailout Program Prerequisites‘, which we get from the Greek Reporter. We see: “The European Commission is urging Greece to proceed with 16 prerequisites that have to be completed by the end of the year, as agreed with creditors. The first report after the end of the bailout program in August that was released on Wednesday says that Greece is delaying to implement 16 important measures and reforms. Among them are the staffing of the independent public revenue authority, the repayment of overdue debts, the legislative framework for resolving the problem of non-performing loans and the development of the new primary health care system“, the article by Philip Chrysopoulos also gives us “Despite the fact that Greece’s 2019 budget meets the target of a primary surplus of 3.5 percent of GDP” will see a speculative setback (speculated by me) by close to 2% at the very least, in what will likely be a wave of managed bad news. The EU is now that useless and pushing down all the other European players. If only the EU legal setting had allowed for removing Greece from the Euro setting and EU economy settings in 2014, a lot of the issues (like Brexit) would never have been an issue. It is in my personal view greed driven EU stupidity that allowed for this. A blind faith in Status Quo that pushed the need of large corporations and that might become the downfall of the EU as a whole.

Do you still think that the EU is better for the EU economy? First Greece and now Italy are becoming the weights drowning the EU. Merely one hour ago, the BBC reported that: “Italy’s government says it will stick to its high-spending budget plans, setting up a potential stand-off with the European Union over its deficit.“, are you actually believing in fairy tales when you think that this will not hit back on the rest of the EU? Even as the Independent reported 13 hours ago: “The pound fell 0.19 per cent to €1.1284 off the back of reports that Italy is headed for a breakthrough with its budget, which would bring to an end weeks of wrangling between the EU and the Italian government.” we now get the reality that there was no breakthrough, we merely see more of the same and the impact of Italy is not immediately reversing and upping the pound against the Euro is it? In light of the revelation, the pound should be up by no less than 0.27 percent against the Euro (the gain and the 0.19 percent loss), we will not see that will we (or we will see it as late as possible so that the 0.27 percent can be largely minimalized. When you realise that the UK is getting unfairly hammered to this extent, would you want to be part of that group? And when (not if) the UK shows the improvements making the UK economy better, what excuses will the EU, ECB, IMF and Wall Street give the people of Britain?

To be part of any exploitative regime as the EU is starting to show it in a few ways. The evidence of this statement was shown by the Clean Clothes Campaign last June when we see (at https://cleanclothes.org/news/2018/06/11/complaint-lodged-against-the-european-commission-for-failing-to-uphold-fundamental-human-rights-in-trade-policy) ‘Complaint lodged against the European Commission for failing to uphold fundamental human rights in trade policy‘. Here we see: “Bangladesh has committed serious and systematic violations of fundamental workers’ rights. Conditions are unsafe for millions of workers in Bangladesh. Additionally, the labour laws of Bangladesh create significant obstacles to the exercise of the right to freedom of association, to organise and to bargain collectively. Further, the government has not effectively enforced even these flawed laws, and workers complaints to authorities are routinely ignored. Without bargaining power or legal recourse, workers have been forced to live in extreme poverty.” and when we realise that the lack of activities, naming and shaming those who are part of it all, whilst the EU remains inactive to a much larger extent, my case of large corporations being in charge of those acting in the EU parliament is close to well made, tailor made one could state. The lack of visibility given in the EU and the oversight on what is imported into the EU from Bangladesh is frightening. The Dutch CBS reported 3 weeks ago: “The average import price per vest exceeds 3 euros in 2018. With an import price of around 2 euros, vests manufactured in Bangladesh are considerably cheaper. Prices of vests from China (approx. 2.50 euros) are also lower than average, while vests from India were average-priced (around 5 euros) and those from Turkey more expensive than average (around 5 euros).” good luck trying to convince me that this is not about money and that there is a proper investigation into the Bangladesh situation. The fact that even China cannot match these prices is partially evidence enough. The fact that manufacture owners in Bangladesh are part of the 250% plus stage that we see with: “This is the largest quantity ever recorded and approximately 2.5 times more than in 1998“, the lack of questions by those gravy train people is just a little too weird and more questions are not coming forward. That is the European Union that its members seem to like and letting the UK out is also not an option. The analysts are merely the first circle we should go after (the first of several mind you). Any report that is not clearly documented with the names of all the people involved in this should immediately be disregarded and kept on record for prosecution and smiting afterwards (when those reports are proven to be incorrect) at that point I wonder how many studies we will get that are so overwhelmingly negative. And it is not merely the analysts. The names of the people commissioning for the report and the clear definition of the question that was asked will also be set to scrutiny. I wonder how many politicians and corporate figures will suddenly run for cover and darkness like a group of cockroaches.

Feel free to disagree or even oppose my view. Yet also remember, I merely want to see the names and all data on those so called ‘commissioned studies’. Is that such a bad question? When we are given the results, should we not wonder HOW they got there? Is that not a duty we all should have?

When we look at The National Institute of Economic and Social Research, we see a clear stage of names, Arno Hantzsche, Amit Kara and Garry Young (which is a proper thing, mindyou). We also see on page 7 and 8: “The Governor of the Bank of England estimated that by May 2018, UK household income was 4 per cent lower than it would otherwise have been as a consequence of the referendum (Carney, 2018): “one third of the 4 per cent shortfall in real wages reflects stronger-than-projected inflation, which is almost entirely accounted for by the referendum-related fall in sterling. The remainder reflects weaker-than-expected nominal wages, the majority of which can be accounted for by weaker-than-anticipated productivity growth“, which should not be disregarded.

Am I opposing my own view?

No, when you see the charts in that page, we see the UK not being in a good place. Yet considering ‘UK economic growth relative to other G7‘ and ‘UK inflation relative to other G7‘, the UK situation would not look great whilst this is staged up to 2018, and now we get the good part. The G7 are Canada, France, U.S, U.K, Germany, Japan and Italy. Now consider the Italian part dragging down due to the stupidity of their budget decision (which might be seen as their right). In addition the Greek issue will drag down the EU as a whole and the USA is in a trade war that will also impact the USA, all parts seemingly not taken into account and suddenly the UK already looks a lot better in all this. Now, we cannot completely fault the report called ‘The economic effects of the government’s proposed Brexit deal‘, yet there is already a non-negative impact for the UK (it is a stretch calling it a positive effect). In addition we see properly placed “We have assumed” in the proper places and only thrice, which is also a good thing and for the most utterly unavoidable. We also see in one place: ‘Sterling effective exchange rate (January 2005=100)‘, which is possibly merely arbitrary, from my personal view the fact that 2008 and 2016 have impacted it all might also be a stage where the UK had more hardship than before and as such the three stages should have been included. My final issue is on page 15; I do not doubt the numbers or the statement perse. Yet when we consider “Ramasamy and Yeung (2010) find that openness to trade benefits in particular FDI inflows to services sectors, much more than to manufacturing. Ebell and Warren (2016) survey the empirical literature and calculate that reverting to trade under trade arrangements similar to those between the EU and Norway would reduce FDI into the UK by 8–11 per cent, and by 11–23 per cent under a Switzerland-type relationship” that openness of trade also implies the open acceptance of the unacceptable ethical stage that Bangladesh is showing to be, we need to ask the tougher questions on EU inactions to the degrees currently seen. You see, when we accept one part, we need to accept that all these sweatshop articles are out of bounds. They are merely emotional banter pressed on those trying to meet budgets, there is no humanity left, we should not allow for that. In this way my statement is harsh, yet that is what the EU has become, a harsh proposer of status quo at the expense of whatever is coming next. If you do not agree, feel free to ban all Bangladesh T-shirts, leaving others with 215 million T-shirts to sell; was that example too direct?

Even when we accept the part of ‘how the deal affects uncertainty and confidence‘, which is a topic that will remain as there will always be uncertainty, the entire report is seemingly staged towards the bad side, whilst any improves economic marker from the second year onwards are basically ignored. We can argue that year one will have no upsides, yet the stage of no upsides in year two is lose to unimaginable. Apart from the ‘EU donation‘, which has been significant, the downturn of Italy and Greece that will no longer impact the UK is clearly escalating and France is basically scared shitless of that part. France is so scared as it is in a much worse position than Germany currently is, who will also feel that impact to some extent.

No matter how this plays, it is a mess that will test the reality of a lot of people. My largest concern is not how good or how bad things get, it is the fake revelations by speculative analysts that are the impact of a lot of things and the moment when we see the managed bad news after the fact, we will also see the weakness that has become the EU, in light of an already weak USA, this merely strengthens the need for a segretative community (read: nationalistic approach to national issues). It is the one part where I see eye to eye with Marine le Pen: “the policies of the European Union as well as the lack of transparency and non-accountability” are the biggest drivers in this entire sordid affair.

I wonder how draconian the changes will become when others realise how correct my view of the matter was. I am less likely to facing the fact that I was wrong, there is too much documentation pleading for my view, especially as the Wall Street Journal reported “Greece’s Eurobank Ergasias SA said it will acquire real-estate company Grivalia Properties REIC, boosting its capital and paving the way for the creation of a “bad bank” to help deplete its pile of nonperforming loans” a mere 5 hours ago. So when exactly did the people ever benefit from a bad bank solution? We saw that in 2013 with the Dutch SNS and Reaal setting. So as Brussels treated us to: “The costs to the Dutch taxpayer were still substantial, resulting in a deterioration of the budget balance (excessive deficit procedure definition) for 2013 with 0.6% and an increase in EMU debt of 1.6%“, we see Greece doing the same 5 years later. As we look at the quote: “In fact, since the nationalization the Dutch press has regularly published pieces that show how the commercial real estate has been mismanaged for a substantial time period. Did this go unnoticed by the regulator? Why did it not intervene?” We now get to unite that part with the overwhelming inaction of the EU and the unacceptable actions of the ECB, so this will be a much larger thing that Greece is printing on the rest of the EU then the people are currently aware of and the impact will be felt much larger, the fact that the bulk of the EU states cannot keep a proper budget merely makes mathers worse (not a typo, it means ‘reaper of hay’), and now I am in a state of moments uncontrollable deriving laughter.

The lack of visibility to several parts (an issue I cannot blame the media for in this case) is just incomprehensible. In part this is due because there are so many elements interacting, yet the fact that the issues are not visible is still a matter of great concern, and also an additional reason to push for Brexit.

 

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Hezbollah, an ignored danger

It has been around for a while. There has been a clear view on how we perceive things, it is in part fuelled by the media and in part through governments that use the flim flam artist approach of ‘watch here‘ whilst the action has been ‘there‘. We have seen a larger growth of anti-Semitic and even anti-Saudi ‘presentations’ and articles. Even though there has been a clear issue with several sides towards the ‘unnatural ending’ of Jamal Khashoggi, the media was way too eager to merely use Turkish innuendo, whilst to a larger extent no verifiable evidence has been produces, even some of the claims have been contradictive. This does not mean that Saudi Arabia is innocent in this, but the critical questions had remained absent to a much larger degree and that too is being swept under the carpet. Yet there is a lot more in all this and it’s important to look at one of the larger puppets Hezbollah. You see, they are very much connected in all this.

Historical

For me personally there is history, I was never part of UNIFIL, yet I was part of the United Nations Security Council and I knew people who were part of UNIFIL, so when I was exposed to ”One year later, following a comprehensive operation by the institute and due to growing international attention to UNIFIL’s failures – and despite EU pressure to prolong the UNIFIL commander’s term – his term was discontinued“, as well as ““The European continent has turned into the lifeline – the oxygen line – for Hezbollah’s terrorist activities,” said Prosor. “If Germany, and then the European Union, would designate all of Hezbollah as a terrorist entity, it would suffocate part of the organization’s ability to function.” For more than a year, the institute researched and produced an investigative documentary on Hezbollah activity in Germany. The film was produced entirely in the German language and with German and international experts“, I was decently shocked. The Jerusalem Post gave us in addition: “the lack of professional background of the commander who was leading the force and his blind eye toward Hezbollah’s violations on the Israel-Lebanon border, deeming them as activities of “shepherds and hunters.”“, the fact that there was this level of complacency was just unheard of. The fact that the other media is seemingly ignoring parts of this is just way too weird. Now, we can consider that the Jerusalem Post is biased, yet when we consider both The documentary was first shown at the 2018 International Conference on Counter-Terrorism and at the presentation to the German Parliament at the end of this month, we should realise that this is a much bigger issue, in addition UN Nikki Haley publicly criticized UNIFIL at the UN, one would think that this is due more visibility then we have so far seen, and when we also see: “while it seems obvious in Israel and America that Hezbollah’s military and political arms are both sponsors of terrorism, in Europe this is not so obvious. There, they make an artificial differentiation between the military arm – a designated terrorist group – and the political arm“, It is almost like the entire IRA issues we saw in Europe in the 80’s and 90’s and whilst Europe remained cautious in regards to the IRA, it is seemingly willing to embrace the political arm of Hezbollah that is every bit as dangerous as its military counterpart.

A facilitating gravy train

There are two additional parts here. The first is less than a day old when we are ‘treated’ to: ‘Hezbollah money laundering has a ‘safe home in Germany”, again from the Jerusalem Post, that even whilst we are given “Lax German illicit terror finance policies permitted Hezbollah to run a vast enterprise to raise funds through a money laundering operation in Europe and South America. French prosecutors put 15 members of the criminal organization on trial last week in Paris. According to three German media outlets – NDR, WDR and the Süddeutsche Zeitung – two of the accused men lived in the German state of North Rhine-Westphalia and an additional two men who were charged lived near the city-state of Bremen in northern Germany“, I could not find any references in other large media (outside of Germany and France). If they have it, it was hidden pretty efficiently. It seems to me (very speculative) is that there is optionally a growing link between the political branch of Hezbollah and the secular press as the Americans call it and that is pretty dangerous. When we consider that Hezbollah is directly engaged in Yemen, the ignoring of such events is a lot more damaging than you could imagine.

There are additional sides in this, yet most of this is given in opinion pieces, which is a factor that we must take into consideration. The first comes from the Khashoggi family (aka The Washington Post), who (at https://www.washingtonpost.com/opinions/global-opinions/to-rescue-yemen-the-us-must-end-all-military-support-of-the-saudi-coalition/2018/11/12/aca29358-e6ad-11e8-b8dc-66cca409c180_story.html) gives us ‘To rescue Yemen, the U.S. must end all military support of the Saudi coalition‘, now, it is a viewpoint that a person should be allowed to have. I do not think it is a realistic one, apart from the fact that ‘Houthi’ is mentioned twice and Hezbollah does not get any mention and they are both firing missiles into civilian areas of Saudi Arabia (and that is all besides the absence of Iranian activity fuelling it all). Yet the passing of a ‘blogger aficionada‘ (aka Journalist) takes front seat to a setting where that person should not really be an issue to the degree he is shown. The stage gives us “in which more than 16,000 civilians have been killed or injured“, yet the mention of 50,000+ deaths from disease, famine and other means where Houthi’s are allegedly using Hezbollah tactics does not get any mention either.

It is that filtered view that is giving light to a behind the curtains support setting to Palestine and Hezbollah. Now, to be fair, a person should be allowed to be pro-Palestinian, if people are Pro-Israel, the other should not be denied, yet Pro-Hezbollah, to be in support of a terrorist organisation is a much bigger issue and that hidden part is becoming a lot more visible, especially when the news is shown to be so unbalanced, even when it is ‘fronted’ as an opinion piece. so when we see the links (as an image), whilst it is almost all openly ‘anti-Saudi’, yet the fact that the atrocities that Houthi and Hezbollah have been largely the cause of, that absence is making the news not democratic, but a shadowy version of niche events presented as factual truth, whilst the given view on the larger scale shows this absence to be close to utterly unethical, especially for a paper like the Washington Post, whether they are now staff-1 or not.

1982 kilometres from Beirut

So how should we react to: “Even U.N. Secretary General Antonio Guterres submitted evidence to the Security Council that Iran was supplying ballistic missiles to Houthi rebels in defiance of U.N. resolution 2231“, which links to a 2014 article, yet the truth is that this has been ongoing and even as Western Europe is puckering up towards Iran to a much larger degree, leaving the political response against Hezbollah unanswered and more important Mohammed Ali al-Houthi is not seen as the guilty party he should be seen as. It is often stated that any aspiring tyrant will consider peace on the eve of defeat and that is what we see now. Even as we are treated to ‘Arab coalition to allow Al Houthi medical evacuations from Yemen: UK‘, we also see ‘Wounded Al Houthi rebels to be evacuated‘, yet what about the 80,000 children on the brink of death due to famine? Even as some might applaud the Saudi Coalition victory, seen though: “Recent high-ranking defections among erstwhile allies of Al Houthis signal further such splits as the Iran-aligned militia suffers setbacks at the hands of the Saudi-led coalition, experts said. This week, Abdul Salam Jaber, who had served as the information minister for Al Houthis, defected from the militia and fled the Al Houthi-controlled capital Sana’a for Riyadh. He said the rebels were “breathing their last”“, the biggest responsibility should be to the Yemeni civilian population in such distress through famine and disease alone. Even Deutsche Welle reported ‘Yemen Houthis seek truce with Saudi coalition‘, yet nothing on those starving to death and even as the Deutsche Welle gives us “The three-and-a-half-year-war has pitted forces loyal to President President Abed Rabbo Mansour Hadi, backed by the Saudi-led bombing, against Houthi rebels associated with Tehran. Saudi-led coalition has recently intensified the bombing in the key strategic area of Hodeida. A blockade of the port city could trigger unprecedented famine“. Even as the blockade might be tactical, the fact that food has been withheld from the civilian population to a much larger degree through the Houthi whether or not employing Hezbollah tactics is also absent here.

For me the problem is a lot larger, as we clearly see the impact of Hezbollah and the absence in the media, the media is becoming less and less reliable, especially as the stories remain one sided. There is a larger part in all this. Personally I am not convinced that this is the complete picture, and I need to make it clear that this is speculative. It is my personal belief that when we consider The National (at http://www.thenational.ae) and some of its unconfirmed articles, some might have seen: ““This was no rogue operation but, rather, a function of Hezbollah’s “financial apparatus,” which “maintained direct ties” to both Hezbollah commercial and terrorist elements,” he wrote in a report published by the Washington Institute of the US Treasury designation of Nourheddine, which preceded the arrests. “Within days of this designation, Noureddine was arrested in France along with several other accused Hezbollah operatives“, as well as ‘Operation Cedar—of which the Treasury designation was just one part‘. I am amazed that the Netherlands were not more visibly mentioned in all this. It seems weird, almost unfathomable that this was all achieved without the use of Rotterdam as a point of transit. Even as transitional cargo is not really looked as, as the Netherlands was not the end destination, it is the biggest world hub in getting containers and bulk cargo from anywhere in Europe towards Asia and the US (and vice versa). This implies that Hezbollah political players are seemingly active there too. The article does mention the Netherlands, yet in a much more ‘timid’ capacity. We see: “Cash was dropped off at hairdressers in Antwerp in Belgium, a large hotel in Paris, a restaurant in Montreuil or a café in Enschede in the Netherlands. Transcripts showed that Mr Noureddine would hand out orders for the collection of as much as 500,000 euros at a time. Six figure sums were often delivered in small note denominations” and that makes sense for the German part (Enschede – Germany) is a distance you can walk (4.5 km) with a highway to Gronau, so that is a place to easily get into Germany (and the opposite direction), hundreds of containers a day take that route. when we consider the news a month ago, when the Dutch were confronted with: ‘Dutch politician praises pro-Palestinian kite show featuring Nazi symbols‘, my assumptions and speculations might be shown as correct, yet is that the actual part in that? So when the Dutch were treated to: “Rens Reijnierse, a lawmaker from the southern city of Vlissingen” and his Pro-Palestinian view “Kites at Pool Beach. Beautiful autumn day in Vlissingen. No wind so the kites won’t fly but the project for Palestine still succeeded,” he wrote” as it was tweeted gives light to not merely a Pro-Palestinian view (which should be allowed) to an optional facilitating Pro-Hezbollah view (a speculative view by me), which is another matter entirely, if that would prove to be true, and even as I mention one person, I am convinced that the anti-Semitic vandalism as shown 6 months ago in Amsterdam was recorded to have risen by 40%. From my speculative mind, there is no way that this does not include a wave of Pro Hezbollah people giving light to a much larger danger on a global scale.

The size does not matter here, the fact that the media is allegedly shuffling this part to the bottom of the news pile is an issue and the few parts I have shown here, should also give rise that the media to a much larger extent is seemingly doing this. Merely Google ‘Hezbollah‘ for the last 24 hours and I see an absence of The Guardian, The Independent, the Times, and several other large newspapers in Europe. Do you really think I was making that up? It is not merely what we see; it is what we do not get to see that shows us that there is a much larger problem. Optionally there is a hidden danger, which is nothing to speculate or allege to. Those who are not in the news are often quickly forgotten and that is the true danger that Hezbollah is representing on a global stage. You merely have to view the thousands of images that show the nightmare that Hezbollah has been part of to see the danger that they pose, the fact that Iran is willing and has been shown to fund this is the icing on the cakes of Iran and Hezbollah, the fact that the media skates around it makes the cake more delicious for both these players as they are not given the limelight of their actions.

 

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When they are merely numbers

What if lives are not set in souls, but in numbers, simple numbers? That is the setting we see ourselves in today. A special shout out to Karl Stefanovic who rightfully backed the police and launched a scathing attack on their “timid” critics. Although I would rephrase from ‘timid critics‘ and merely categorise them as ‘fear mongering scaredy cats with a lack of knowledge‘, yet that would be merely my personal choice in the freedom of classification.

Karl is correct in a few ways, yet to see that. We need to look at the other side. My training comes from NATO and I mastered several weapons, to give you a specific setting here, which with the Remington Model 700 is really simple. The drift on 300 meters is optionally no more than 1.1936″ in a nominal setting, so if I aim for the head the brain is gone, if I aim for the chest the damage is worse as that person will not be instantly dead, but they will feel the pinch of a .308 slug and at that point, most Kevlar is useless. You see at 300 Yds the bullet impacts with 1950 lbs on roughly a square inch, in an oversimplified example a 1000 Kg hammer hits a square inch of your chest at a speed of 671 metres per second, good luck getting past that feeling! The Kevlar might slow it down but the impact will be enough to turn ribs to shrapnel and cleave its way through your chest, if the bullet gets through, it will still be mostly slim and nail shaped, leaving the recipient with plenty of optionally fatal damage. A Kevlar vest (if the person has one) might stop a pistol 9mm, even a .357, but with a .308 or .338 rifle, nope, that person becomes a write off. This is how a soldier thinks, it is them/him or me/us, we do not want to die for our country we merely make the other one die for their country/cause.

The police is a different slice of cake. They are trying to protect people from harm of self and/or protect them from harm by others. The police are there as protection for civilians, innocent or not. They have a duty to arrest and Karl is right in backing the police. The News from News.com.au is giving us “They do it sometimes with the public hating them. But they’re the first you call when you need them and they were the first to respond. I salute them this morning“, he is correct! The news also gives us: “The call comes in response to a deadly attack in Melbourne’s Bourke Street on Friday by Hassan Khalif Shire Ali — a Muslim refugee from Somalia. Ali crashed his car full of gas cylinders before stabbing three people, killing prominent Italian restaurateur Sisto Malaspina“, and at this point, the question from me is ‘At what stage was the police to assume that this was a terrorist?‘ You see ‘his car full of gas cylinders‘ was after the fact, yet when did the police know exactly what was going on? The police had a direct need to incapacitate to a degree, not to kill. It is that plain and simple! Their job is to evangelise and support the law, not enforce it through violence, even as that will be essential at that point. So the call ‘Shoot him, shoot him’ might come from outsiders, yet to shoot is not an easy task for them. Let’s not forget that the public has been willing to lynch a policeman using his firearm in the past, so the police is utterly willing to leave shooting as a final resort (and so for the most they should), or until there is a clear and present danger to others and even then it will be shoot to incapacitate, which with a Glock is a little harder then you think.

When we see Nine News (at https://www.9news.com.au/2018/11/11/19/18/bourke-street-terror-attack-family-say-hassan-khalif-shire-ali-was-mentally-ill), we see: “The family of the man responsible for Friday’s attack on Bourke Street insist he was not a terrorist but a mentally ill man “crying for help”“. This is optionally true and it also gives rise to the police and the caution used. They might have noticed symptoms that clearly called for caution and refrain from lethal force. Let’s not forget that the entire Martin Place event was a clear case of mental illness, so there is a precedent in all this. It merely makes the entire event sadder on more than one level. It will undoubtedly give false feelings of guilt to the police officer who discharged the lethal shot, it will give feelings of guilt to all the police and carers on the sidelines, and they should not feel guilt in any way. This man, no matter how we slice it has taken three lives, it comes with consequences.

We might even overreact when we see: “Islamic State claimed the attack but today Home Affairs Minister Peter Dutton said there was no confirmed link to the terror group.” Yet the truth is that until people like ASIO give clear evidence that this was the case, we are merely getting an emotional push from a terrorist organisation seeking the limelight in any way they can, it will merely complicate matters in the short term and leave us with a bitter feeling in the long run. Yet we also see that Nine News is optionally wrong. As we see: “The terrorist has been named as 30-year-old Somali-born Hassan Khalif Shire Ali“, this is optionally wrong if any clear evidence of mental health is shown to be true. There is a call in the News.com.au article (at https://www.news.com.au/news/national/security-expert-says-were-feeding-the-beasts-of-terror-with-shoottokill-policy/news-story/59f2162b3427c2e2f5d0a3e6fe1babd1) with ‘Australia is “feeding the beasts” of terror and failing to prevent future attacks‘, in this Dr Allan Orr could be correct. there is no issue labeling the right person a lone wolf, or a terrorist, yet how was it done, what was planned and what was set in an emotional stage. It is order versus chaos. In addition is the man merely a terrorist because he is Muslim? Is he not merely a murderer at this point? These what I would call intentional misclassifications are also a larger problem, the media loves it to use the terrorist tag in all the wrong places and even as it is too soon to clearly determine this, we see that a police officer was used deadly force against an alleged murderer, alleged because intent needs to be shown in court, were these three people intended victims, or where they there and the man would be clearly guilty of manslaughter. In any case the police officer would be absolved of any guilt, especially if he/she had tried to resolve the issue in a non-lethal way.

There will be a political debate that is already raging on, yet the stage is larger than merely “I’ve been very open about the cancellation of visas, the numbers have ramped up, because there are some people who should not go on to become Australian citizens,” the setting of this might not be incorrect, yet when we know that ‘Permanent residency may be revoked at the discretion of the responsible Minister, for example in cases of criminal misconduct‘, if that is correct, then why would there be a political debate? It would be merely enforcing what is stated in policy, is it not?

It gets to be even more complicated when we see: “Ali was known to federal police and had his passport cancelled in 2015 amid fears the Somali-born man would travel to Syria“, the question becomes who was he going to support? Assad, Assad opposition, perhaps the direction does not matter, yet the direction does incline towards extremism, as such it cannot be ignored. It is an issue as we see that there are more sides to all this. The fact that no action was taken (apart from removing the passport) might have sufficed to some degree, his active interest to go to Syria was never explained (needed or not), if there would have been an assessment, even a mere interview and conversation on the consequence of doing that as a non-citizen might have optionally resolved the issue to some degree (highly speculative on my side). Even a limited monitoring on media and activities might have dampened the danger (or not). If these are all acts of a mental health issue, then the entire terrorist issue falls in the water and other activities might not have helped, but the knowledge of where this person was might have optionally aided the police in a few ways, and is that not important too? To give the members of the police every inch that they can use to resolve without being force to employ deadly force? It might not have been an option here, but the lack of indicators (as presently known) seems a little too staggering at present giving us the handle that not only was Karl Stefanovic correct, the officers subjected to this ordeal might be due a commendation or two (or three).

The last part is also the biggest issue. when we see both “Prime Minister Scott Morrison said he backs religious freedoms but has also called on Islamic leaders to call out the attack“, and “Those remarks that have in turn been labelled divisive by Muslim groups who say their community is not to blame for the actions of an individual and fear it could stoke Islamophobia“. It is the partial failure of Prime Minister Scott Morrison that his call, outside if the mental health scope was plain wrong. He can make that assessment after we know enough that mental health was not the stage here, and that part is still largely in question. You see, to require any religious group to lash out at mental health issues is the larger wrong and that is not seen here. Should I be wrong and the mental health part fails, then we have another issue, yet at present there has been no clear evidence to set that and whilst we accept: “Home Affairs Minister Peter Dutton said there was no confirmed link to the terror group“, yet this is very specific, was there any other data making any extremist link likely? I get the impression that this is not the case, giving us a much larger overreaction, just like the Martin Place incident of 2014.

From my point of view, we have become Muslim polarised to a much too large extent. Consider that every religion has its mental health cases. Consider (the Times, Oct 2017) ‘Mental patient murdered neighbour hours after hospital discharged him‘, also we have ‘How 18 psychiatric patients freed by one NHS Trust ALL went on to kill‘ (Daily Mail, Jan 2018), 19 people said to have killed someone, but not terrorists as they were allegedly not Muslim. Two filters of classification in a group of people that would have been a dangerous stage in any foundation, so we need to be extra careful who gets the ‘terrorist label’ as the impact is a lot larger and the negation that actual terrorists are could also endanger a lot more lives in the future.

The victims and perpetrators might merely be numbers, yet when the numbers are wrongly stacked, the people who are forced to act might wrongly do so making matters worse for everyone around and that needs to be clearly stated, as well as the fact that Karl Stefanovic made the right call in this case and that should be recognised on a national level as well.

 

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