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Post by Deleted on Aug 19, 2014 18:51:36 GMT -1
Don't see a PM from you, Nota. But I had a bit of bother logging in yesterday, got a screen freeze, so might have missed something. Agreed, probably best leave any scurrilous rumours off the public forum. But I sure hope the Scottish government will find an equitable solution. Preferably thru bona fide investors. (How's that for diplomacy?)..
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Post by Deleted on Aug 22, 2014 22:09:53 GMT -1
Four bids for the shipyard by deadline, apparently. Except one *party* then withdrew their offer. Front runner by all accounts appears to be Jim McColl: billionaire industrialist of this parish. And Yes supporter. Sure hope the yard and everyone's jobs can be saved. It does seem obvious that if defence contracts are being awarded outwith the UKE, that a yard of excellence with a complement of skilled people can forge a future building ferries and oil-rig support craft.
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Post by notanimby on Aug 23, 2014 6:37:48 GMT -1
Jim McColl would seem to be the best of teh bunch so far, notonly for his industrial background, which is in a similar related vein - but he has the spare cash, not only to buy it but to actually invest in it afterwards.
There's been a lot of deluded mutterings that teh Scottish Government should have awarded the current boats being built abroad for Calemac to Fergusons, apart from the legal impossibilities of that - physically the one getting built in Germany is to big by about 50feet - meaning that they would have to have shut the A8 dual carriageway to build it
That wee lieboor arsehole donkey mcneil who is an MSP cannae shut up about it, despite him being a memeber of teh lieboor-lie-dumb coalition government at holyrood pre 2007 which awarded absolutely fuck-all to fergusons during their 8 years in power, funnily enough for exactly the reasons he spouting pish about now
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Post by Deleted on Aug 23, 2014 19:45:35 GMT -1
Well apparently we'll learn early next week who the winning bidder is.
I just hope that the yard will go on to a fruitful future. It seems such a shame to let such skills go to waste because of a cashflow problem.
Debt is NORMAL in the UKE now. We're up to our eyes in it, nationally. Would be a pity to throw the baby out with the bathwater, IMO.
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Post by ozneil on Aug 23, 2014 21:33:32 GMT -1
After Independence you are going to find it more expensive to borrow money
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Post by notanimby on Aug 23, 2014 22:03:20 GMT -1
After Independence you are going to find it more expensive to borrow money Why would that be? Scotland would be a new country, with plenty of resources, including oil to underpin that, despite it being only 16% of them economy income. The ratings agencies have said that Scotland would be in amongst the top bandings. The UK's rating varies between AA and AAA despite having a £1.3 TRILLION debt, Scotland could start out with no debt, although that will depend on negotiation , even at that all we'll be paying is @8% of the interest that rUK will be paying, the current UK, never mind rUK have no plans on how to reduce that debt in the slightest, in fact their borrowing this year is exceeding the target yet again. So when Scotland becomes independent, how are they gonnae pay it down, minus the oil underpinning, minus a sizeable chunk of their GDP, hmm think rUK. In the rather stupid haste to say hey won't have a currency union and they are the continuing state, no matter n what has left them open to looking rather stupid indeed. They really are stupid and all because they think they are special and the world revolves around them.
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Post by ozneil on Aug 24, 2014 0:13:56 GMT -1
After Independence you are going to find it more expensive to borrow money Why would that be? Scotland would be a new country, with plenty of resources, including oil to underpin that, despite it being only 16% of them economy income. The ratings agencies have said that Scotland would be in amongst the top bandings. The UK's rating varies between AA and AAA despite having a £1.3 TRILLION debt, Scotland could start out with no debt, although that will depend on negotiation , even at that all we'll be paying is @8% of the interest that rUK will be paying, the current UK, never mind rUK have no plans on how to reduce that debt in the slightest, in fact their borrowing this year is exceeding the target yet again. So when Scotland becomes independent, how are they gonnae pay it down, minus the oil underpinning, minus a sizeable chunk of their GDP, hmm think rUK. In the rather stupid haste to say hey won't have a currency union and they are the continuing state, no matter n what has left them open to looking rather stupid indeed. They really are stupid and all because they think they are special and the world revolves around them. I thought you had studied economics and I wouldnt have to explain it. Basically as a new Country Scotland would have no Credit Rating and as a result the lenders will increase the % charged on loans to encourage investors to lend the money at a perceived higher risk. This will change of course as Scotland gains credence
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Post by Deleted on Aug 24, 2014 0:32:07 GMT -1
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Post by celyn on Aug 24, 2014 0:46:33 GMT -1
I thought you had studied economics and I wouldnt have to explain it. Basically as a new Country Scotland would have no Credit Rating and as a result the lenders will increase the % charged on loans to encourage investors to lend the money at a perceived higher risk. This will change of course as Scotland gains credence I think Standard & Poor's might disagree with you. www.businessforscotland.co.uk/independent-scotland-could-be-aaa-rated-standard-poors/The item from Business for Scotland contains a link to the pdf from S & P, (which is handy as I'm not sure I know how to link to the pdf).
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Post by celyn on Aug 24, 2014 0:48:22 GMT -1
Oops, I see that Rolo already posted link. Oh well.
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Post by Deleted on Aug 24, 2014 0:56:24 GMT -1
Some facts bear repeating, Celyn!
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Post by ozneil on Aug 24, 2014 1:09:08 GMT -1
Very quickly Scotland may get a AAA credit rating.
At moment it hasnt one
Fergussons and/or their buyers need money NOW.
I dont believe The Scottish Government is underwriting Fergussons , if they are different ball game.
Fergussons may or maynot be operating in a newly indepedent country... Lenders will be leary (good Scottish word?) therefore a loan will be at a higher interest rate to attract investors (Higher the rate the greater the risk)
The money will probabbly come from an international lender.
Gees I put in a simple economics truism which every 1st year economics student would know ans wowww massive insult against Scotland ... what a prickly bunch (shakes head and walks away in wonderment)
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Post by notanimby on Aug 24, 2014 5:34:14 GMT -1
Very quickly Scotland may get a AAA credit rating. At moment it hasnt one Fergussons and/or their buyers need money NOW. I dont believe The Scottish Government is underwriting Fergussons , if they are different ball game. Fergussons may or maynot be operating in a newly indepedent country... Lenders will be leary (good Scottish word?) therefore a loan will be at a higher interest rate to attract investors (Higher the rate the greater the risk) The money will probabbly come from an international lender. Gees I put in a simple economics truism which every 1st year economics student would know ans wowww massive insult against Scotland ... what a prickly bunch (shakes head and walks away in wonderment) I didn't take it as an insult - I took it as something that may or may not be the case The credit reference agencies as I mentioned tend to see Scotland in a good light. By the way this isnt real economics as an academic subject - this is just finance, in the case of Fergusons As for government underwriting, ( loan guarantees) they are not allowed to do that currently under rules laid down by westminster
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Post by Deleted on Aug 24, 2014 17:54:12 GMT -1
Very quickly Scotland may get a AAA credit rating. At moment it hasnt one Fergussons and/or their buyers need money NOW. I dont believe The Scottish Government is underwriting Fergussons , if they are different ball game. Fergussons may or maynot be operating in a newly indepedent country... Lenders will be leary (good Scottish word?) therefore a loan will be at a higher interest rate to attract investors (Higher the rate the greater the risk) The money will probabbly come from an international lender. Gees I put in a simple economics truism which every 1st year economics student would know ans wowww massive insult against Scotland ... what a prickly bunch (shakes head and walks away in wonderment) Ahahahaaaaaa! I didn't take it as an insult either, Oz, sorry to disappoint! Just merely countered your statement--with evidence!-- re our credit ratings likelihood post Yes. I'd imagine the multi-billionaire Jim McColl would stand in good stead for financing a buyout? Obviously his business plan would need to pass muster, in terms of future development and potential new markets, granted.
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Post by ozneil on Aug 24, 2014 19:22:53 GMT -1
oxymoron (well nearly)
It will take several years to get a AAA credit rating I note S&P didnt give a time lone
Fergussons need cash now and for anyone to borrow it will be more expensive coz of the unknown factors.
Who foreclosed on them?
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