Crunch Victim
Every 3.69 minutes someone is going bankrupt (scary!)
According to Credit Action, the debtors’ charity, people go bankrupt at the rate of one every 3.69 minutes. A property is repossessed in the UK every 11.4 minutes. Spare a thought for the hard-worked staff of the Citizens Advice Bureau who handle an estimated 9.500 new debt problems every day. A staggering 16,348 individual bankruptcy petitions were made in the first three months of this year, along with 2,177 company winding-up petitions due to financial difficulty.
Source: The Independent
Twitter Weekly Updates for 2010-02-14
- BAE Cuts 230 Jobs At Cumbria Submarine Site – http://digg.com/u1N3jC #
- Birmingham City Council may axe 2000 jobs – http://digg.com/d11IMHm #
- 750 Jobs Axed at Halifax – http://digg.com/u1Mt3N #
- Vauxhall 'axe jobs at Luton site' – http://digg.com/u1Mt3F #
- 300 water company jobs to be axed – http://digg.com/u1Mt36 #
- Nokia to axe 285 jobs at Salo plant. – http://tinyurl.com/ycglrsw #
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Twitter Weekly Updates for 2010-02-07
- Shell to axe 1000 staff after 75% slump in profits. – http://tinyurl.com/y88px3s #
- Jobless rate hits 5-month low but payrolls fall – http://digg.com/u1MXfN #
- GMAC cutting 554 jobs – http://digg.com/u1MUEF #
- Tulsa public school lay offs 114 employees – http://digg.com/u1MUE7 #
- Unemployment rate falls to 9.7 percent, 20,000 jobs cut – http://digg.com/u1MUAH #
- Frontier Airlines cut about 175 Lynx jobs – http://www.bizjournals.com/denver/stories/2010/02/01/daily60.html?surround=lfn #
- 250 job losses as council counts the costs – http://digg.com/u1MSti #
- Oil Companies Announce Job Cuts – http://digg.com/u1MON7 #
- Bridgewater newsprint mill put into administration – http://digg.com/u1MF5a #
- The Bengal Brasserie II goes into administration after three months – http://digg.com/u1MEsg #
- Scots chocolate firm Kshocolat goes into administration with loss of 25 jobs – http://digg.com/u1MEsV #
- Sixty more jobs axed by Conservative Westminster Council – http://digg.com/u1MEry #
- Baglan construction company consult on job losses http://digg.com/u1MEqL #
- Toyota to axe 750 British jobs – http://tinyurl.com/y9trnpf #
- Redundancy tracker: UK job losses and job cuts – http://digg.com/u1M30O #
- U.S. Bank Cutting 50 Positions Near Chicago – http://tinyurl.com/yb9dve2 #
- Ericsson announces more job losses as profits slump – http://bit.ly/aZtsqq #
- RT @crunchvictims Lloyds job losses on course to reach 16,000 – http://digg.com/u1LxF1 #
- Is the UK recession really over? – http://tinyurl.com/yhpxhj2 #
- Astra-Zeneca to slash 8000 jobs in next 4 years. – http://tinyurl.com/yav58wq #
- GlaxoSmithKline expected to axe 4000 jobs. – http://tinyurl.com/yk9fzku #
- Shop Direct closes with 1500 job losses. – http://tinyurl.com/yhu299d #
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3000 people lose their jobs every day in recession.
Source: Flickr 19598520@N00/2967191227
Source: Graham Hicott of the Mirror
More than 3000 people a day are joining the ranks of the unemployed as the recession tightens its grip. The jobless total surged by a record 281,000 to almost 2.4 million in the three months to May.
The increase – taking the number out of work to the highest for 14 years – was described as “truly horrendous” by experts. And the tally worsened yesterday as car giant Jaguar announced 300 job losses with plans to cease production of the X-Type at its Halewood factory on Merseyside.
Paul Kenny, general secretary of the GMB union, said:
People are paying a very high price for this bankers’ recession as unemployment heads back to the three million seen in the Tory years. The news that Goldman Sachs intend to restart paying billions in bonuses to bankers adds insult to injury.
The figures showed unemployment at 7.6% to the end of May – but it is feared to have gone even higher since. In June, the number claiming dole was up 23,800 to 1.56 million.
Yesterday’s report from the Office for National Statistics revealed youth unemployment at a 16-year high of 726,000.
The number of people out of work for longer than a year also rose by 46,000 to 528,000, the highest for 11 years. TUC general secretary Brendan Barber said threatened public spending cuts could only make things worse, while The Prince’s Trust warned of dire consequences for young people.
Chief executive Martina Milburn said:
Another young person is added to Britain’s dole queue nearly every minute of every day. We need to help them into work before they become a lost generation.
Shadow work and pensions secretary Theresa May said unemployment cast a “dark cloud over the economy.” But Employment Minister Jim Knight said there was hope, with the UK figures better than in the US, Germany and France.
He said:
Through investing now, fewer people are getting stuck on benefit for months and years.
Fred Goodwin is a Crunch Victim.
Matt Roper of the Mirror.co.uk has done an interesting article today on two people with the same name who have lost their jobs recently. We know the one as Sir Fred Goodwin “the shred” (the boss of RBS who brought the Royal Bank of Scotland to its knees with record losses of £24billion) and the other is just a normal guy called Fred Goodwin who is an innocent victim of the economic crisis engulfing the country.
Sir Fred draws a massive £13000-a-week pension, his namesake struggles to get by on a £60.50 weekly jobseekers’ allowance.
The 56-year-old dad-of-two reckons the greedy banker should hand back some of his windfall, paid for by taxpayers after the Government’s bail-out of the bank.
Fred said:
He should see what life’s really like for ordinary people who are suffering because of what he did. He wouldn’t even last a minute.
The ironic thing is I’ve never been sacked for doing a bad job. Yet he gets paid off with the kind of money I could only dream of, while I could end up losing everything.I’ve thought a lot about what I would do if I was in his shoes, but although I’d be tempted to take the money and stuff everyone else, I honestly don’t think I’d be able to do it and still live with myself. Not after inflicting so much pain on so many people.
Maybe if Sir Fred came and lived with me for a week he’d think again about it too.
Personally I think sir Fred Goodwin should:
- Lose his title as he certainly does not deserve to be a “Sir”.
- Hand back all the bonuses, incentives he has received in the past.
- Waiver his pension since he has made enough money off RBS over the years.
- Go to jail – do not pass this problem onto the tax payer, do not collect a massive pension.
