2118 Hrs GMT London Wednesday 25 March 2009
KHOODEELAAR! evidential note about the end of Brown's indulgence in debts-causing imprudence [To be continued]
33rd year AADHIKAR
0225 GMT Thursday 06 June 2013
AADHIKAR Media Foundation Editor © Muhammad Haque
Founding News Editor
Shah M Azizul Haque
AADHIKAR Media Foundation established with the publication of AADHIKAR the weekly on Monday 19 December 1980 from London E1 UK.
Wednesday, March 25, 2009
KHOODEELAAR! evidential note in context: Even 'Mirek' can see what we have seen for years and have advised Brown to heed our GUIDANCE ..
By © Muhammad Haque
2100 Hrs GMT London Wednesday 25 March 2009
The KHOODEELAAR! campaign against the London Crossrail Big Business scam is a part of the movement that has over the years consistently foreseen the follies of Big Business and their touts in ‘decision-making’ posts funded in the name of the people..
The KHOODEELAAR! warnings to Gordon Brown [when he was UK Finance minister] about Crossrail were given in extensive detail. We even gave him the questions that he could;d and should have put to the then Crossrail-peddling minister Alistair Darling...Brown did delay the funding commitment..
But when he gave the commitment to Crossrail, he defied the evidence. And made a mistake. No, Brown was brazen. He did not make a mistake. He was ignorant. Or he was worse: dishonest. He is persisting with the same ignorance in the USA today Wednesday 25 March 2009. He also ignored the KHOODEELAAR! analytical and evidential work on the sub-racist tactic by the likes of Michael Snyder, Barrenness Jo Valentine and their colluder as co-peddler for CRASS-rail Undone Mayor Ken Livingstone .
The three of them belonged to a lying cabal of Big Business touts that created a bogus ‘case’ collectively against Scotland and railed against un-named Scottish politicos and blamed Scotland for the failure of UK Central Govt to fund Crossrail in London.……
It was KHOODEELAAR! that made this analysis. Not even the SNP. Not anyone else. We published the analysis and told Brown to beware of the lies and the fabrications.…
But Brown evidently ‘thought’ that he would rather cave in and appear to be with the anti-Scottish sub-racists than face up to the facts of their particular racism... Brown appeared keen to appease that little cabal of racists...All of them brayed that the future of world depended on the UK Govt. funding Crossrail! That was in the period June 2007 to April 2008.
The world, it appears case on the records, began to fall apart as soon as Brown gave the final erroneous commitment to Crossrail.
So much so that by the end of the year that has followed Brown’s triumphant appearance on stage in Canary Wharf with Crossrail peddling Ken Livingstone [who was manipulating Brown to serve Livingstone’s propaganda purposes as the candidate for a third time to abuse the powers and the money in the name of the people of London] Brown is being treated with contempt in effect as the likes of Anne McElvoy mock Brown quite openly [EVENING STANDARD, London Wednesday 25 March 2009] .
On what ?
On the very 'Keynesian' trip which they had been part of a year ago as they used Brown's intellectual fragility and gullibility and capitalized on those to peddle the case for Big Business case ‘for CROSSRAIL:” and assorted other scams to loot the public....
[To be continued]
From the IHT web site [published by the New York Times]
Britain's Brown expects results from G20 summit
http://www.iht.com/articles/ap/2009/03/25/america/NA-US-Britain-Brown.php
The Associated Press
Published: March 25, 2009
E-Mail Article
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3-Column Format
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NEW YORK: British Prime Minister Gordon Brown on Wednesday promised "detailed results" from next week's G20 summit as he stopped in New York during a three-continent tour intended to drum up support for a coordinated international response to the global economic crisis.
Brown is hosting the April 2 summit for leaders of the Group of 20, made up of rich and key developing nations that account for more than 80 percent of the world economy.
"I believe that now, for the first time, global leaders recognize the need to cooperate and that in each country people think and see a problem that is their country's problem, they also see that a solution to that problem doesn't just lie in their country but lies in the international community," he said. "So there will be detailed results and positive decisions that come out of London."
He also attacked corporate greed, saying the summit would seek to create international standards for executive compensation.
"We will even also publish principles about remuneration, so that there are similar standards and for remunerating bankers and the financial system in future in all countries and not just in one, to avoid a race to the bottom which is a consequence of not having any standards at all," Brown said.
Today in Americas
Obama pitches budget plan in Congress
Clinton admits U.S. role in Mexico drug trouble
McCain-Feingold law at risk
Brown said the time had come for a new world economic order.
"A new consensus has to be built, and we know unless we work together and set global standards together we will not be able to have the progress we want," Brown said. "And I say to people in America, it is important to recognize a bad bank in any country can now affect banks in all countries and we should work together to set global standards at the highest level."
Brown made his comments at New York University where he participated alongside former U.S. Secretary of State Madeline Albright and former Federal Reserve Chairman Paul Volcker in a discussion of multilateralism in the 21st Century.
In his speech, Brown maintained a generally positive tone, saying the current crisis was a result of growing globalization and expressed optimism that it would eventually result in a stronger world financial system.
But he warned against a tendency toward increased protectionism in the face of crisis.
"We cannot just stand here, we've either got to act in the way we're suggesting or there will be a retreat into protectionism, because if we cannot show that national and international action can work together, then people will abandon the gospel of free trade and of international cooperation," Brown said. "So, there is huge danger of a retreat into protectionism.
Brown's optimism contrasted sharply with comments Wednesday from the head of the European Union, who characterized President Barack Obama's plan to spend nearly $2 trillion to push the U.S. economy out of recession as "the road to hell."
Czech Prime Minister Mirek Topolanek's comments before the European Parliament highlighted simmering European differences with Washington and some of the obstacles Brown faces in achieving greater international cooperation.
Brown's stimulus plans also appear to be facing resistance at home, with Bank of England Governor Mervyn King warning Tuesday the government must be careful about how much money it pours into stimulus measures in the face of growing deficits.
Earlier in the day, during an interview with The Wall Street Journal, Brown warned of the specter of deflation, where falling prices lead to more layoffs and create a vicious circle of economic shrinkage.
"I think in the short term everybody is concerned about the problems that come from deflation," Brown told the Journal, adding his government was doing "what is necessary to resume growth in the economy."
Brown meets with U.N. Secretary General Ban Ki-moon before heading to Brazil and Chile in an effort to drum up support from two key emerging market players.
On Tuesday, Brown spoke to lawmakers at the European Parliament, insisting a cash injection into the global economy will be "twice as effective" if it is adopted by all countries around the world.
By stressing both cash injections into the economy and greater regulation, Brown sought to calm critics both in the United States and the 27-nation EU.
2100 Hrs GMT London Wednesday 25 March 2009
The KHOODEELAAR! campaign against the London Crossrail Big Business scam is a part of the movement that has over the years consistently foreseen the follies of Big Business and their touts in ‘decision-making’ posts funded in the name of the people..
The KHOODEELAAR! warnings to Gordon Brown [when he was UK Finance minister] about Crossrail were given in extensive detail. We even gave him the questions that he could;d and should have put to the then Crossrail-peddling minister Alistair Darling...Brown did delay the funding commitment..
But when he gave the commitment to Crossrail, he defied the evidence. And made a mistake. No, Brown was brazen. He did not make a mistake. He was ignorant. Or he was worse: dishonest. He is persisting with the same ignorance in the USA today Wednesday 25 March 2009. He also ignored the KHOODEELAAR! analytical and evidential work on the sub-racist tactic by the likes of Michael Snyder, Barrenness Jo Valentine and their colluder as co-peddler for CRASS-rail Undone Mayor Ken Livingstone .
The three of them belonged to a lying cabal of Big Business touts that created a bogus ‘case’ collectively against Scotland and railed against un-named Scottish politicos and blamed Scotland for the failure of UK Central Govt to fund Crossrail in London.……
It was KHOODEELAAR! that made this analysis. Not even the SNP. Not anyone else. We published the analysis and told Brown to beware of the lies and the fabrications.…
But Brown evidently ‘thought’ that he would rather cave in and appear to be with the anti-Scottish sub-racists than face up to the facts of their particular racism... Brown appeared keen to appease that little cabal of racists...All of them brayed that the future of world depended on the UK Govt. funding Crossrail! That was in the period June 2007 to April 2008.
The world, it appears case on the records, began to fall apart as soon as Brown gave the final erroneous commitment to Crossrail.
So much so that by the end of the year that has followed Brown’s triumphant appearance on stage in Canary Wharf with Crossrail peddling Ken Livingstone [who was manipulating Brown to serve Livingstone’s propaganda purposes as the candidate for a third time to abuse the powers and the money in the name of the people of London] Brown is being treated with contempt in effect as the likes of Anne McElvoy mock Brown quite openly [EVENING STANDARD, London Wednesday 25 March 2009] .
On what ?
On the very 'Keynesian' trip which they had been part of a year ago as they used Brown's intellectual fragility and gullibility and capitalized on those to peddle the case for Big Business case ‘for CROSSRAIL:” and assorted other scams to loot the public....
[To be continued]
From the IHT web site [published by the New York Times]
Britain's Brown expects results from G20 summit
http://www.iht.com/articles/ap/2009/03/25/america/NA-US-Britain-Brown.php
The Associated Press
Published: March 25, 2009
E-Mail Article
Listen to Article
Printer-Friendly
3-Column Format
Translate
Share Article
Text Size
NEW YORK: British Prime Minister Gordon Brown on Wednesday promised "detailed results" from next week's G20 summit as he stopped in New York during a three-continent tour intended to drum up support for a coordinated international response to the global economic crisis.
Brown is hosting the April 2 summit for leaders of the Group of 20, made up of rich and key developing nations that account for more than 80 percent of the world economy.
"I believe that now, for the first time, global leaders recognize the need to cooperate and that in each country people think and see a problem that is their country's problem, they also see that a solution to that problem doesn't just lie in their country but lies in the international community," he said. "So there will be detailed results and positive decisions that come out of London."
He also attacked corporate greed, saying the summit would seek to create international standards for executive compensation.
"We will even also publish principles about remuneration, so that there are similar standards and for remunerating bankers and the financial system in future in all countries and not just in one, to avoid a race to the bottom which is a consequence of not having any standards at all," Brown said.
Today in Americas
Obama pitches budget plan in Congress
Clinton admits U.S. role in Mexico drug trouble
McCain-Feingold law at risk
Brown said the time had come for a new world economic order.
"A new consensus has to be built, and we know unless we work together and set global standards together we will not be able to have the progress we want," Brown said. "And I say to people in America, it is important to recognize a bad bank in any country can now affect banks in all countries and we should work together to set global standards at the highest level."
Brown made his comments at New York University where he participated alongside former U.S. Secretary of State Madeline Albright and former Federal Reserve Chairman Paul Volcker in a discussion of multilateralism in the 21st Century.
In his speech, Brown maintained a generally positive tone, saying the current crisis was a result of growing globalization and expressed optimism that it would eventually result in a stronger world financial system.
But he warned against a tendency toward increased protectionism in the face of crisis.
"We cannot just stand here, we've either got to act in the way we're suggesting or there will be a retreat into protectionism, because if we cannot show that national and international action can work together, then people will abandon the gospel of free trade and of international cooperation," Brown said. "So, there is huge danger of a retreat into protectionism.
Brown's optimism contrasted sharply with comments Wednesday from the head of the European Union, who characterized President Barack Obama's plan to spend nearly $2 trillion to push the U.S. economy out of recession as "the road to hell."
Czech Prime Minister Mirek Topolanek's comments before the European Parliament highlighted simmering European differences with Washington and some of the obstacles Brown faces in achieving greater international cooperation.
Brown's stimulus plans also appear to be facing resistance at home, with Bank of England Governor Mervyn King warning Tuesday the government must be careful about how much money it pours into stimulus measures in the face of growing deficits.
Earlier in the day, during an interview with The Wall Street Journal, Brown warned of the specter of deflation, where falling prices lead to more layoffs and create a vicious circle of economic shrinkage.
"I think in the short term everybody is concerned about the problems that come from deflation," Brown told the Journal, adding his government was doing "what is necessary to resume growth in the economy."
Brown meets with U.N. Secretary General Ban Ki-moon before heading to Brazil and Chile in an effort to drum up support from two key emerging market players.
On Tuesday, Brown spoke to lawmakers at the European Parliament, insisting a cash injection into the global economy will be "twice as effective" if it is adopted by all countries around the world.
By stressing both cash injections into the economy and greater regulation, Brown sought to calm critics both in the United States and the 27-nation EU.
KHOODEELAAR! TOLD BROWN SO! QUIT faking it. Stop the fakery, start telling the truth. Star acting honestly. SCRAP CROSSRAIL
1955 Hrs GMT London Wednesday 25 March 2009:
KHOODEELAAR! TOLD YOU SO!
That IRRESPECTIVE of labels - whether self-adhesed or conferred by third parties or sources - career politicos are corrupt.
The extent of their corruption may vary from careerist to careerist. But they all are corrupt. If this corruption is a product of ‘the system’ then of course the system is unfit for purpose.
The purpose being the universal rights of people.. If the corrupt careerism impedes the realisation of rights for - all and for all concerned - then the corrupt careerism must be got rid of. The process of getting rid of it may be long. But it has to go...
The preferable option should be constitutional, democratic, ethical and humane. As objectively defined and universally understood.. Can this be done?
This is one central question.. This question is reinforced by the evidence of the day today Wednesday 25 March 2009. Evidence as relayed from and linked to the uses and abuses of power by all involved.… On this day the USA-UK axis of media and propaganda as conducted by the vested interests who exclude the voices of the ordinary people repeatedly foisted the images of the head s of regimes without scrutinising their conduct. Just as the MPs in the UK House of Commons failed to scrutinise Crossrail...
[To be continued]
FROM BBC online
Papering over the cracks at G20
Analysis
By Steve Schifferes
Economics reporter, BBC News
Mr Topolanek says Europe should resist US-style spending
A week before the G20 summit is set to begin, a major row has flared up between the US and Europe over how to revive the world economy.
US President Barack Obama has called for all countries to bear the burden of stimulating the world economy.
He said it would be unfair to expect those countries taking extraordinary measures to lift up those that were not.
Meanwhile, the Czech prime minister, Mirek Topolanek, the current holder of the EU presidency, has condemned US economic recovery plans as "a way to hell".
Mr Topolanek, whose government collapsed last night in a Czech parliament vote of no-confidence, said the United States was not taking "the right path".
He attacked the growing US budget deficit and the "Buy America" campaign, saying "all of these steps, these combinations and permanency is the way to hell".
Mr Obama wants Europe to play its part
Meanwhile, UK Prime Minister Gordon Brown, who is hosting the G20 summit, has been trying to patch up the row, arguing that all countries are agreed that they will take "whatever measures are necessary" to boost their economies.
But he has been put on the spot by the governor of the Bank of England, Mervyn King, who has warned that the UK has little room for further fiscal stimulus on its own.
Behind the row
The intellectual case for a big worldwide fiscal stimulus has been put by the normally conservative International Monetary Fund (IMF), which has suggested that countries should spend at least 2% of GDP to boost their economies.
Mr Brown is trying to play honest broker
The idea is that if all work together, there will be spillover effects, so that countries will also gain by being able to sell more exports abroad as well as boosting their economies at home.
This is particularly important for large exporting countries, such as Japan and Germany, which have seen a particularly sharp drop in their economic output.
The IMF says that the overall fiscal stimulus plans could boost world growth in 2009 by between 1% and 3%, with about 1% coming from spillover effects.
G20 LONDON SUMMIT
World leaders will meet next month in London to discuss measures to tackle the downturn. See our in-depth guide to the G20 summit.
The G20 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the US and the EU.
Q&A: G20 Summit
Lessons of failure: 1933 Summit
Your views on the summit
But it is worried that most countries - other than the US and China - are cutting back stimulus packages in 2010, and says that the boost to growth will be much less - perhaps zero - by then.
This may reflect a difference of judgement between the US and Europe as to how long the recession will last.
But so far the economic climate has been rapidly worsening, and signs point to the recession being deeper and longer than previously expected.
Fundamental differences
So the differences in approach to the stimulus reflect long-standing tensions between the US and Europe over public spending and deficits.
While European countries generally spend more than the US on public goods and services, they have been struggling for the last decade to reduce the burden of their government debt , which was a key aspiration particularly in the eurozone.
So they are reluctant to give up those hard-won gains to rescue the US economy, which they argue was the country that caused the crisis in the first place.
And some European countries, especially Germany, are historically very sensitive to the longer-run inflationary implications of higher budget deficits.
While the US is prepared to run a budget deficit of 8.9% of gross domestic product, or GDP, and the UK is likely to reach 11% by 2010, Germany is planning a deficit of just 5% and France 6%.
According to IMF figures, France has among the smallest stimulus plans of any G20 countries, at just 0.7% of GDP.
The blame game
Perhaps it is not surprising that France has been one of the most vocal countries calling for the reform of the world financial system in order to get tougher with the banks.
However, they now appear to be pushing at an open door, with both the US and the UK, the traditional advocates of the free market and light-touch regulation, now conceding the need for tighter regulation.
But while this may prevent the next crisis, it is not a solution for the current one.
Mr Brown may be right that all countries are determined to do what it takes to rescue their own economies.
But the more the idea of coordinated action appears to be a chimera, the less likely it will be that the G20 will produce the confidence-boosting effects on global markets that its organisers are hoping for.
Bookmark with:
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THE ROAD TO THE G20
LATEST NEWS
US 'wants more financial rules'
Czech PM attacks US spending
Brown denies split over economy
Obama pledges recovery
Public 'wants G20 stimulus deal'
IMF announces lending reforms
Europe 'must lead downturn fight'
SECURITY AND PROTESTS
Recession rallies G20 protesters
G20 protesters: What they want
Unions press G20 on new tack
Police warn of G20 protest scale
BACKGROUND AND ANALYSIS
The lessons of failure: the last London economic summit
Papering over the cracks
G20: The key issues
Financial tsunami
What do Sherpas do?
Q&A: The G20
AROUND THE WORLD
Snapshot of G20 countries
China presses G20 reform plans
Eastern Europe faces downturn
Japan copes with recession
VIDEO REPORTS
Ukraine on the brink of collapse
Russia considers Lada rescue
How Latvia's boom turned to bust
Japan homeless living in internet cafes
Steel factory invests in lettuce
HAVE YOUR SAY
G20: Your views reported
THE GLOBAL ECONOMIC CRISIS
G20: Full in-depth report
UK recession in depth
Global recession in depth
TOP BUSINESS STORIES
UK government bond auction fails
AIG employee quits at 'betrayal'
Snooker firm Rileys cuts 200 jobs
| News feeds
MOST POPULAR STORIES NOW
SHARED READ WATCHED/LISTENED
Stealth jet crashes in US desert
60-foot penis painted on roof
Britton quits ITV's This Morning
Sir Fred Goodwin's home attacked
Missing chef 'has come to harm'
Man survived both atomic bombings
Dead girl given truancy warning
Tweed to attend Goody's funeral
Spandau reform for a world tour
Model railway's global uber-view
Most popular now, in detail
FEATURES, VIEWS, ANALYSIS
To US with love
'Hello, I'm a British Muslim. Come and hear me speak'
Robert Peston
Why have investors lost their appetite for gilts?
Bright future
Spurned by family, Aids orphan finds friends at school
KHOODEELAAR! TOLD YOU SO!
That IRRESPECTIVE of labels - whether self-adhesed or conferred by third parties or sources - career politicos are corrupt.
The extent of their corruption may vary from careerist to careerist. But they all are corrupt. If this corruption is a product of ‘the system’ then of course the system is unfit for purpose.
The purpose being the universal rights of people.. If the corrupt careerism impedes the realisation of rights for - all and for all concerned - then the corrupt careerism must be got rid of. The process of getting rid of it may be long. But it has to go...
The preferable option should be constitutional, democratic, ethical and humane. As objectively defined and universally understood.. Can this be done?
This is one central question.. This question is reinforced by the evidence of the day today Wednesday 25 March 2009. Evidence as relayed from and linked to the uses and abuses of power by all involved.… On this day the USA-UK axis of media and propaganda as conducted by the vested interests who exclude the voices of the ordinary people repeatedly foisted the images of the head s of regimes without scrutinising their conduct. Just as the MPs in the UK House of Commons failed to scrutinise Crossrail...
[To be continued]
FROM BBC online
Papering over the cracks at G20
Analysis
By Steve Schifferes
Economics reporter, BBC News
Mr Topolanek says Europe should resist US-style spending
A week before the G20 summit is set to begin, a major row has flared up between the US and Europe over how to revive the world economy.
US President Barack Obama has called for all countries to bear the burden of stimulating the world economy.
He said it would be unfair to expect those countries taking extraordinary measures to lift up those that were not.
Meanwhile, the Czech prime minister, Mirek Topolanek, the current holder of the EU presidency, has condemned US economic recovery plans as "a way to hell".
Mr Topolanek, whose government collapsed last night in a Czech parliament vote of no-confidence, said the United States was not taking "the right path".
He attacked the growing US budget deficit and the "Buy America" campaign, saying "all of these steps, these combinations and permanency is the way to hell".
Mr Obama wants Europe to play its part
Meanwhile, UK Prime Minister Gordon Brown, who is hosting the G20 summit, has been trying to patch up the row, arguing that all countries are agreed that they will take "whatever measures are necessary" to boost their economies.
But he has been put on the spot by the governor of the Bank of England, Mervyn King, who has warned that the UK has little room for further fiscal stimulus on its own.
Behind the row
The intellectual case for a big worldwide fiscal stimulus has been put by the normally conservative International Monetary Fund (IMF), which has suggested that countries should spend at least 2% of GDP to boost their economies.
Mr Brown is trying to play honest broker
The idea is that if all work together, there will be spillover effects, so that countries will also gain by being able to sell more exports abroad as well as boosting their economies at home.
This is particularly important for large exporting countries, such as Japan and Germany, which have seen a particularly sharp drop in their economic output.
The IMF says that the overall fiscal stimulus plans could boost world growth in 2009 by between 1% and 3%, with about 1% coming from spillover effects.
G20 LONDON SUMMIT
World leaders will meet next month in London to discuss measures to tackle the downturn. See our in-depth guide to the G20 summit.
The G20 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the US and the EU.
Q&A: G20 Summit
Lessons of failure: 1933 Summit
Your views on the summit
But it is worried that most countries - other than the US and China - are cutting back stimulus packages in 2010, and says that the boost to growth will be much less - perhaps zero - by then.
This may reflect a difference of judgement between the US and Europe as to how long the recession will last.
But so far the economic climate has been rapidly worsening, and signs point to the recession being deeper and longer than previously expected.
Fundamental differences
So the differences in approach to the stimulus reflect long-standing tensions between the US and Europe over public spending and deficits.
While European countries generally spend more than the US on public goods and services, they have been struggling for the last decade to reduce the burden of their government debt , which was a key aspiration particularly in the eurozone.
So they are reluctant to give up those hard-won gains to rescue the US economy, which they argue was the country that caused the crisis in the first place.
And some European countries, especially Germany, are historically very sensitive to the longer-run inflationary implications of higher budget deficits.
While the US is prepared to run a budget deficit of 8.9% of gross domestic product, or GDP, and the UK is likely to reach 11% by 2010, Germany is planning a deficit of just 5% and France 6%.
According to IMF figures, France has among the smallest stimulus plans of any G20 countries, at just 0.7% of GDP.
The blame game
Perhaps it is not surprising that France has been one of the most vocal countries calling for the reform of the world financial system in order to get tougher with the banks.
However, they now appear to be pushing at an open door, with both the US and the UK, the traditional advocates of the free market and light-touch regulation, now conceding the need for tighter regulation.
But while this may prevent the next crisis, it is not a solution for the current one.
Mr Brown may be right that all countries are determined to do what it takes to rescue their own economies.
But the more the idea of coordinated action appears to be a chimera, the less likely it will be that the G20 will produce the confidence-boosting effects on global markets that its organisers are hoping for.
Bookmark with:
Delicious Digg reddit Facebook StumbleUpon
What are these?
E-mail this to a friend
Printable version
THE ROAD TO THE G20
LATEST NEWS
US 'wants more financial rules'
Czech PM attacks US spending
Brown denies split over economy
Obama pledges recovery
Public 'wants G20 stimulus deal'
IMF announces lending reforms
Europe 'must lead downturn fight'
SECURITY AND PROTESTS
Recession rallies G20 protesters
G20 protesters: What they want
Unions press G20 on new tack
Police warn of G20 protest scale
BACKGROUND AND ANALYSIS
The lessons of failure: the last London economic summit
Papering over the cracks
G20: The key issues
Financial tsunami
What do Sherpas do?
Q&A: The G20
AROUND THE WORLD
Snapshot of G20 countries
China presses G20 reform plans
Eastern Europe faces downturn
Japan copes with recession
VIDEO REPORTS
Ukraine on the brink of collapse
Russia considers Lada rescue
How Latvia's boom turned to bust
Japan homeless living in internet cafes
Steel factory invests in lettuce
HAVE YOUR SAY
G20: Your views reported
THE GLOBAL ECONOMIC CRISIS
G20: Full in-depth report
UK recession in depth
Global recession in depth
TOP BUSINESS STORIES
UK government bond auction fails
AIG employee quits at 'betrayal'
Snooker firm Rileys cuts 200 jobs
| News feeds
MOST POPULAR STORIES NOW
SHARED READ WATCHED/LISTENED
Stealth jet crashes in US desert
60-foot penis painted on roof
Britton quits ITV's This Morning
Sir Fred Goodwin's home attacked
Missing chef 'has come to harm'
Man survived both atomic bombings
Dead girl given truancy warning
Tweed to attend Goody's funeral
Spandau reform for a world tour
Model railway's global uber-view
Most popular now, in detail
FEATURES, VIEWS, ANALYSIS
To US with love
'Hello, I'm a British Muslim. Come and hear me speak'
Robert Peston
Why have investors lost their appetite for gilts?
Bright future
Spurned by family, Aids orphan finds friends at school
KHOODEELAAR! told you so! Now the Guardian carries a Reuters copy almost agreeing with our diagnosis!
"
Reuters, Wednesday March 25 2009
* CEO sees possible 3 pct fall on South-Eastern rail network
* Says still seeing growth for time being
* Says to cut 500 jobs at aviation division
* Crossrail project may not be completed in his lifetime
(Adds further CEO comments, shares)
By John Bowker
LONDON, March 25 (Reuters) - British transport group Go-Ahead Group Plc has prepared for a potential 3 percent slump in rail passenger revenue on its routes into central London in 2009, while also cutting 500 jobs at its aviation division.
Chief Executive Keith Ludeman said he was still seeing growth on the City-exposed South-Eastern franchise, but considered it possible that a recession-related slump is on the way and had cut costs accordingly -- including 300 jobs.
He told Reuters 2009 passenger revenue could fall 3 percent, compared with an 8.9 percent rise in the six-month period to end December.
"I think that could well happen. If you look at Bank of England forecasts, that's what they project," he said in an interview, adding that the correlation between economic forecasts and actual rail use was still unclear.
"What we have done, as a business, is to say, OK - 'what if things got quite difficult?' ... We identified what impact that would have on the profitability of the business, and (have) taken steps to ensure that profitability is maintained," he said.
Go-Ahead operates three rail franchises linking the south, south-east and British midlands to London, and accounts for 30 percent of all rail journeys in the UK.
All major rail operators are currently concerned about the impact of rising unemployment on passenger numbers during the recession -- the first since the network was privatised.
Ludeman said that although unemployment would have an impact, the overall recession had hit non-essential travel harder.
"What's happened in the economic downturn has more impacted on discretionary travel, rather than the commuter network ... if you have a job, you come to work," he said.
Go-Ahead shares were up 2.4 percent at 1072 pence by 1505 GMT, valuing the business at 460 million pounds. Its rivals -- FirstGroup, Stagecoach, Arriva and National Express were all down.
NOT IN MY LIFETIME
Go-Ahead also operates an extensive bus network and an aviation services division, which Ludeman said was being scaled back with the loss of 500 posts this financial year -- 12.5 percent of the arm's workforce.
"That's to reflect the very substantial drop in cargo tonnage worldwide," he said, indicating that he would listen to offers for the struggling arm when conditions improved.
"I think it's at the bottom of a difficult period. We've restructured the business -- we hope to survive the current downturn in that industry, and when we come out we'll see what the options for the business are," said.
On Britain's railway policy, he said the government was too keen on major schemes such as the upgrade of the cross-channel rail link in 2007, and should concentrate, instead, on smaller projects to increase capacity.
The 59-year-old said it was possible the 16 billion pound ($23.5 billion) Crossrail scheme across London -- due to be completed by 2017 -- would not be completed in his lifetime, assuming an average lifespan of around 82 years.
"Let's be honest about Crossrail. Can we actually say that this thing is fundable and will happen?" he said.
"I think certainly in my working lifetime, absolutely no chance. I think in my own lifetime, possibly," he added, when asked whether he was confident the massive project could be completed.
The Crossrail railway is expected to carry 200 million passengers a year across central London from 2017, and will include links to Heathrow and Canary Wharf. ($1=.6822 Pound) (Editing by Simon Jessop)
"
Reuters, Wednesday March 25 2009
* CEO sees possible 3 pct fall on South-Eastern rail network
* Says still seeing growth for time being
* Says to cut 500 jobs at aviation division
* Crossrail project may not be completed in his lifetime
(Adds further CEO comments, shares)
By John Bowker
LONDON, March 25 (Reuters) - British transport group Go-Ahead Group Plc has prepared for a potential 3 percent slump in rail passenger revenue on its routes into central London in 2009, while also cutting 500 jobs at its aviation division.
Chief Executive Keith Ludeman said he was still seeing growth on the City-exposed South-Eastern franchise, but considered it possible that a recession-related slump is on the way and had cut costs accordingly -- including 300 jobs.
He told Reuters 2009 passenger revenue could fall 3 percent, compared with an 8.9 percent rise in the six-month period to end December.
"I think that could well happen. If you look at Bank of England forecasts, that's what they project," he said in an interview, adding that the correlation between economic forecasts and actual rail use was still unclear.
"What we have done, as a business, is to say, OK - 'what if things got quite difficult?' ... We identified what impact that would have on the profitability of the business, and (have) taken steps to ensure that profitability is maintained," he said.
Go-Ahead operates three rail franchises linking the south, south-east and British midlands to London, and accounts for 30 percent of all rail journeys in the UK.
All major rail operators are currently concerned about the impact of rising unemployment on passenger numbers during the recession -- the first since the network was privatised.
Ludeman said that although unemployment would have an impact, the overall recession had hit non-essential travel harder.
"What's happened in the economic downturn has more impacted on discretionary travel, rather than the commuter network ... if you have a job, you come to work," he said.
Go-Ahead shares were up 2.4 percent at 1072 pence by 1505 GMT, valuing the business at 460 million pounds. Its rivals -- FirstGroup, Stagecoach, Arriva and National Express were all down.
NOT IN MY LIFETIME
Go-Ahead also operates an extensive bus network and an aviation services division, which Ludeman said was being scaled back with the loss of 500 posts this financial year -- 12.5 percent of the arm's workforce.
"That's to reflect the very substantial drop in cargo tonnage worldwide," he said, indicating that he would listen to offers for the struggling arm when conditions improved.
"I think it's at the bottom of a difficult period. We've restructured the business -- we hope to survive the current downturn in that industry, and when we come out we'll see what the options for the business are," said.
On Britain's railway policy, he said the government was too keen on major schemes such as the upgrade of the cross-channel rail link in 2007, and should concentrate, instead, on smaller projects to increase capacity.
The 59-year-old said it was possible the 16 billion pound ($23.5 billion) Crossrail scheme across London -- due to be completed by 2017 -- would not be completed in his lifetime, assuming an average lifespan of around 82 years.
"Let's be honest about Crossrail. Can we actually say that this thing is fundable and will happen?" he said.
"I think certainly in my working lifetime, absolutely no chance. I think in my own lifetime, possibly," he added, when asked whether he was confident the massive project could be completed.
The Crossrail railway is expected to carry 200 million passengers a year across central London from 2017, and will include links to Heathrow and Canary Wharf. ($1=.6822 Pound) (Editing by Simon Jessop)
"
KHOODEELAAR! the campaign against “the Crossrail hole scam ..“ TOLD YOU SO! Now even the City of London Corp confesses!
1700 [1652] Hrs GMT London Wednesday 25 March 2009:
KHOODEELAAR! the campaign against “the Crossrail hole scam ..“ TOLD YOU SO!
Now even the City of London Corporation is beginning o confess!!!! City of London Corporation man too confesses to crassness of a Crossrail charge! The style of the post is of course grand. Understandably. But the grandeur CAN SCARCELY HIDE THE realisation that Crossrail was a scam too far!
[To be continued]
KHOODEELAAR! the campaign against “the Crossrail hole scam ..“ TOLD YOU SO!
Now even the City of London Corporation is beginning o confess!!!! City of London Corporation man too confesses to crassness of a Crossrail charge! The style of the post is of course grand. Understandably. But the grandeur CAN SCARCELY HIDE THE realisation that Crossrail was a scam too far!
[To be continued]
KHOODEELAAR! TOLD BROWN SO! Stop wasting money. Stop adding to the huge debt. Scrap Crossrail.
0740 Hrs GMT London Wednesday 25 March 2009:
KHOODEELAAR! TOLD BROWN SO! Whatever Rupert Murdoch may have to tell Brown this morning [or this afternoon as time zones are compared] will not be new. Cannot be new. We For over five years, the inner city East London campaign against "Big Business crassly conceived Crossrail scam" Brown everything that he has ever needed to know about ‘macro and micro economics. in fact the words macro and micro economics were distinctively i by KHOODEELAAR! into the campaign discussions in February 2004 when we set out the case AGAINST Crossrail....We accurately foresaw and predicted the economic downturn and Brown’s predicament... And we solved his predicament... Five years and a month BEFORE Bank of England Governor Mervyn King did. Stop the waste. Stop the debts-causing ‘spending splurge’..
.
[To be continued]
KHOODEELAAR! TOLD BROWN SO! Whatever Rupert Murdoch may have to tell Brown this morning [or this afternoon as time zones are compared] will not be new. Cannot be new. We For over five years, the inner city East London campaign against "Big Business crassly conceived Crossrail scam" Brown everything that he has ever needed to know about ‘macro and micro economics. in fact the words macro and micro economics were distinctively i by KHOODEELAAR! into the campaign discussions in February 2004 when we set out the case AGAINST Crossrail....We accurately foresaw and predicted the economic downturn and Brown’s predicament... And we solved his predicament... Five years and a month BEFORE Bank of England Governor Mervyn King did. Stop the waste. Stop the debts-causing ‘spending splurge’..
.
[To be continued]
KHOODEELAAR! TOLD YOU SO! That IMPRUDENT behaviour by Crossrail-funder Brown was way out of order!
KHOODEELAAR! TOLD YOU SO! That IMPRUDENT behaviour by Crossrail-funder Brown was way out of order!