More casualties of the "credit crunch"

[wall_of_voodoo]

Popular drama Heartbeat is being axed in a further attempt by ITV to save money.

The decision to stop making the much-loved 60s police series, which has been broadcast since 1992, follows last week's announcement to halve the number of episodes of The Bill.

Heartbeat has been on life support since cheaper Sunday night shows such as Dancing on Ice proved to be such ratings winners.

And the plug will finally be pulled once the series currently being filmed is aired.

Spin-off hospital drama The Royal is also being axed.

http://www.mirror.co.uk/celebs/news/200 ... -21079473/

[Sutty]

There was an article on the news last night about how some MP's think that the media is partly responsible for the huge economic downturn in this country. I doubt it is, but when really thinking about it, there could be a hint of truth about it.
I'm not making light of the situation, I jsut can't fully understand how some things are being affected. I know there is a knock on effect and it is affecting many parts of the economy, but there are instances where I can't work out how the financial downturn has reached certain sectors.
Personally, I'm finding the current situation is working to my benefit, because I am luck to have no real debt, there are some really good bargains to be had at the moment. I'm not trying to make light of the situation and I apologise if I have offended anyone.

[DaveO]

There was an article on the news last night about how some MP's think that the media is partly responsible for the huge economic downturn in this country. I doubt it is, but when really thinking about it, there could be a hint of truth about it.
I'm not making light of the situation, I jsut can't fully understand how some things are being affected. I know there is a knock on effect and it is affecting many parts of the economy, but there are instances where I can't work out how the financial downturn has reached certain sectors.
Personally, I'm finding the current situation is working to my benefit, because I am luck to have no real debt, there are some really good bargains to be had at the moment. I'm not trying to make light of the situation and I apologise if I have offended anyone.

I agree. My job security is now actually better than it was in May of last year. It could all change next week of course but then that has been the case for as long as I can remember.

As such my income has stayed the same, my mortgage has gone down (by a lot, I am on a tracker of +0.34% above base rate for the full mortgage term) so I am better off.

So because the media is telling the economic world is about to end should I change my spending and savings habits? I have always been responsible and saved money each year so it's not as if I live a spend, spend spend existence.

I am sure I am not the only one in this situation so should we all reign in the spending because of the doom and gloom and makes things even worse?

Dave

[doc]

Despite the foundations of the credit crunch being in the US I do think the media have definitely had an impact in the UK starting off with the news on Northern Rock leaking out on Newsnight causing a run on the bank. The government then had to act to stop the collapse of one of the countries biggest mortgage lenders and to stop runs occurring on other major banks as this would have led to a monumental collapse of the UK economy; an economy that has become evermore reliant on generating money through financial wheeler-dealing rather than manufacturing.

The same can be said of the declining house prices. The more the media report massive falls in house prices the more potential buyers are put off buying until the market hits rock bottom. In addition the banks, now having depleted financial resources, and realising that potential new borrowers have less job security, are not lending as freely as before, thus causing the housing market to plummet still further.

Personally I have taken a bit of a battering. Lost job in Dec 2007. Found new job pretty much straight away through a friend, but with a £5k pay cut and the extra cost of a 60 mile commute. I can't sell the house to move closer to work as the market is dead at the moment. I'm sure other people are in this situation or worse; i.e. can find work but may not be able to take it up because they are unable to move house.

I used to work for a big US chemical company with all the benefits that go with it. I now work for a university spin out company on lower pay and without the benefits of final salary pension, BUPA etc. Despite the government saying that more highly qualified people are required for the high tech jobs on which our future economy will depend, the chemical industry, and the pharmaceutical industry in particular, have been taking a battering (e.g. high gas and raw material costs)and the last few months have seen thousands of high tech R & D and production jobs being lost at GlaxoSmithKline, AstraZeneca and Pfizer. It should be noted that this hasn't stopped the aforementioned companies expanding and building new facilities in India, China and Singapore. This, and previous governments, don't seem to understand that when all these companies started to transfer their manufacturing abroad to reduce costs they then realised that it would also be cheaper to carry out their R & D in the Far East as well. This is also happening in software design with Microsoft outsourcing programming work to India due to the large numbers of highly numerate individuals coming through their education system.

Personally I would like to see all the Fat Cats from the city destitute in the gutter rather than the government bailing them out, but I know that our economy would have gone further down the pan if the government hadn't acted.

Come the revolution brother, the greedy Moneymen in the City should be the first up against the wall!.....If we can still afford the bullets!!!!!

[josie andrews]

Despite the foundations of the credit crunch being in the US I do think the media have definitely had an impact in the UK starting off with the news on Northern Rock leaking out on Newsnight causing a run on the bank. The government then had to act to stop the collapse of one of the countries biggest mortgage lenders and to stop runs occurring on other major banks as this would have led to a monumental collapse of the UK economy; an economy that has become evermore reliant on generating money through financial wheeler-dealing rather than manufacturing.

The same can be said of the declining house prices. The more the media report massive falls in house prices the more potential buyers are put off buying until the market hits rock bottom. In addition the banks, now having depleted financial resources, and realising that potential new borrowers have less job security, are not lending as freely as before, thus causing the housing market to plummet still further.

Personally I have taken a bit of a battering. Lost job in Dec 2007. Found new job pretty much straight away through a friend, but with a £5k pay cut and the extra cost of a 60 mile commute. I can't sell the house to move closer to work as the market is dead at the moment. I'm sure other people are in this situation or worse; i.e. can find work but may not be able to take it up because they are unable to move house.

I used to work for a big US chemical company with all the benefits that go with it. I now work for a university spin out company on lower pay and without the benefits of final salary pension, BUPA etc. Despite the government saying that more highly qualified people are required for the high tech jobs on which our future economy will depend, the chemical industry, and the pharmaceutical industry in particular, have been taking a battering (e.g. high gas and raw material costs)and the last few months have seen thousands of high tech R & D and production jobs being lost at GlaxoSmithKline, AstraZeneca and Pfizer. It should be noted that this hasn't stopped the aforementioned companies expanding and building new facilities in India, China and Singapore. This, and previous governments, don't seem to understand that when all these companies started to transfer their manufacturing abroad to reduce costs they then realised that it would also be cheaper to carry out their R & D in the Far East as well. This is also happening in software design with Microsoft outsourcing programming work to India due to the large numbers of highly numerate individuals coming through their education system.

Personally I would like to see all the Fat Cats from the city destitute in the gutter rather than the government bailing them out, but I know that our economy would have gone further down the pan if the government hadn't acted.

Come the revolution brother, the greedy Moneymen in the City should be the first up against the wall!.....If we can still afford the bullets!!!!!

:eusa2: :eusa2: :eusa2:

I was only saying more or less the same thng today at work.

[wall_of_voodoo]

Despite the foundations of the credit crunch being in the US I do think the media have definitely had an impact in the UK starting off with the news on Northern Rock leaking out on Newsnight causing a run on the bank. The government then had to act to stop the collapse of one of the countries biggest mortgage lenders and to stop runs occurring on other major banks as this would have led to a monumental collapse of the UK economy; an economy that has become evermore reliant on generating money through financial wheeler-dealing rather than manufacturing.

The same can be said of the declining house prices. The more the media report massive falls in house prices the more potential buyers are put off buying until the market hits rock bottom. In addition the banks, now having depleted financial resources, and realising that potential new borrowers have less job security, are not lending as freely as before, thus causing the housing market to plummet still further.

Personally I have taken a bit of a battering. Lost job in Dec 2007. Found new job pretty much straight away through a friend, but with a £5k pay cut and the extra cost of a 60 mile commute. I can't sell the house to move closer to work as the market is dead at the moment. I'm sure other people are in this situation or worse; i.e. can find work but may not be able to take it up because they are unable to move house.

I used to work for a big US chemical company with all the benefits that go with it. I now work for a university spin out company on lower pay and without the benefits of final salary pension, BUPA etc. Despite the government saying that more highly qualified people are required for the high tech jobs on which our future economy will depend, the chemical industry, and the pharmaceutical industry in particular, have been taking a battering (e.g. high gas and raw material costs)and the last few months have seen thousands of high tech R & D and production jobs being lost at GlaxoSmithKline, AstraZeneca and Pfizer. It should be noted that this hasn't stopped the aforementioned companies expanding and building new facilities in India, China and Singapore. This, and previous governments, don't seem to understand that when all these companies started to transfer their manufacturing abroad to reduce costs they then realised that it would also be cheaper to carry out their R & D in the Far East as well. This is also happening in software design with Microsoft outsourcing programming work to India due to the large numbers of highly numerate individuals coming through their education system.

Personally I would like to see all the Fat Cats from the city destitute in the gutter rather than the government bailing them out, but I know that our economy would have gone further down the pan if the government hadn't acted.

Come the revolution brother, the greedy Moneymen in the City should be the first up against the wall!.....If we can still afford the bullets!!!!!

:eusa2: :eusa2: :eusa2:

I was only saying more or less the same thng today at work.

The most annoying thing that I have read, is that this "credit crunch" is supposed to mean the end of free banking for everyone in the uk. ie charges just for having a current account etc. This comes after waives of public money to keep these greedy, over avaricious companies on their gravy train, yet little (if any) of this pubic money has been used by the banks for lending and the re-circulation of money!!

Yet all this originated (so we are told) from financial mismanagement in the american sub-prime letting market. So why are people from the uk bailing out the banks 3 times with their so-called "toxic loans"????? (count them: 1) Huge amount of taxpayer's money, 2) Bank charges 3) Paying for bad debts caused by (and in) other countries)

This just takes the biscuit, they should have let ALL the banks go to the wall F*** 'em all. Most companies suffering the banks incompetence are "going under" and people are losing jobs, why not bankers? They should have used the taxpayer's money to keep open the post offices being closed and formed a new bank - a public owned bank. The money would not have been wasted on bankers and brokers bonuses and would have gone to the people/business that needed it!