Nov. 26th, 2009
Dubai defaults on its debts
Nov. 26th, 2009 09:30 amHere
If it was just a large Dubai-based company then I wouldn't be that surprised - but this is the largest government owned investment company in Dubai.
An awful lot of expansion over the last 15 years has been based on debt - and we're going to be seeing more and more of it unwind. Which is what happens when your model is based on getting into debt and then paying it off faster than the interest mounts up - you live on the edge, balancing incomings against outgoings on a constant basis. The longer the recession lasts the more companies will be pushed over that edge.
If it was just a large Dubai-based company then I wouldn't be that surprised - but this is the largest government owned investment company in Dubai.
An awful lot of expansion over the last 15 years has been based on debt - and we're going to be seeing more and more of it unwind. Which is what happens when your model is based on getting into debt and then paying it off faster than the interest mounts up - you live on the edge, balancing incomings against outgoings on a constant basis. The longer the recession lasts the more companies will be pushed over that edge.
-
YES! YES! I miss my Tivo so much!
-
So no telling them in front of sexist people!
Insurance company are going to pay the £500 it cost to get Building Company A to find the leak. *phew*
Building Company B are coming round on Wednesday at 8:30am to take a look at the room and decide whether they need to put dehumidifers in place for a few days before starting proper work on the 10th.
I've given up gaming until after Christmas (at least) so that my time is more flexible.
I'm looking forward to making updates that aren't just about building work.
I have finished Defense Grid though - and I'm looking forward to going back and doing some earlier levels better. Also, Julie and I went out for dinner last night, which was nice. So it's not all bad.
ETA: And I won the national lottery. A whole £10!!!!!
Building Company B are coming round on Wednesday at 8:30am to take a look at the room and decide whether they need to put dehumidifers in place for a few days before starting proper work on the 10th.
I've given up gaming until after Christmas (at least) so that my time is more flexible.
I'm looking forward to making updates that aren't just about building work.
I have finished Defense Grid though - and I'm looking forward to going back and doing some earlier levels better. Also, Julie and I went out for dinner last night, which was nice. So it's not all bad.
ETA: And I won the national lottery. A whole £10!!!!!
Viene tormenta!
Nov. 26th, 2009 06:32 pmYou may remember "Nation For Marriage" and their "A Storm is Coming" ad against gay marriage:
if so you will probably be very amused by this:
Afterwards you should head over to http://www.giantgayrepellentumbrella.com/...
(Thanks to
drainboy for that one)
if so you will probably be very amused by this:
Afterwards you should head over to http://www.giantgayrepellentumbrella.com/...
(Thanks to
![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)