The Money Thread - Public Bank ownership expands (RBS@70%)

[JiggerJay]

Luckily (from my career perspective) the games industry is pretty safe, touch wood. People stay in more and rely on staple home entertainments such as games, movies and take away pizza during economic downturns

At least, I hope they do

Unless you work with EA, the games industry is never safe mate, it hasn't impacted so much yet, but it will do, and you will see a few little devs that EA haven't bought up go broke.

Too true. Have you read the feature in this months GamesTM about the state of the games industry and just what it actually means to work there? It'll shatter any illusions you might have that it's in any way a 'good' place to work - unless you've been through at least two redundancies, you're not even considered a 'true' developer...

no industry is realyl safe anymore though, unless you work in an essential "basic company" like utilities or health care, you will find the next few months tough, maybe not you personally but your company may struggle.

[JiggerJay]

Too true. Have you read the feature in this months GamesTM about the state of the games industry and just what it actually means to work there? It'll shatter any illusions you might have that it's in any way a 'good' place to work - unless you've been through at least two redundancies, you're not even considered a 'true' developer...

Oh the anecdotes I could relate about some truly shocking business practices I've witnessed. The games industry has yet to grow up.

I remember watching a documentry about Ocean, that was pretty funny how they closed down, they went to the office but they were locked out by baliffs and they were taking their things!

[Spike]

Tough times ahead for people I currently work at a bar part time and it's clear that people don't have as much money to spend. Less customers and those that are there don't spend as much. Makes my job easier, but then I might not have a job if it continues!

[Hexx]

As long as they dont invent an absolute cure for insanity. My job is safe.

Can we have any really "money/business" talk?

What's gonna happen when the American markets open at 2pmish? - I expect to see under 5000 FTSE.

Plus...recession this year..

[Ecno]

As long as they dont invent an absolute cure for insanity. My job is safe.

Can we have any really "money/business" talk?

What's gonna happen when the American markets open at 2pmish? - I expect to see under 5000 FTSE.

Plus...recession this year..

I think the FTSE will level out and won't dip much more after 2pm and certainly not below 5000.

[Hexx]

I think the FTSE will level out and won't dip much more after 2pm and certainly not below 5000.

Good Guess.

I expected turmoil today/tomorrow morning, but settling back up towards the end of tomorrow.

[Peter Crisp]

The good thing about Woolworth's only being worth 7p a share is that they cant plunge on the stock market unless they start to be worth minus money.

Woolworth's are thus unkillable.

[JiggerJay]

The good thing about Woolworth's only being worth 7p a share is that they cant plunge on the stock market unless they start to be worth minus money.

Woolworth's are thus unkillable.

only 7p a share? why so low? they are like everywhere!

[Hexx]

The good thing about Woolworth's only being worth 7p a share is that they cant plunge on the stock market unless they start to be worth minus money.

Woolworth's are thus unkillable.

only 7p a share? why so low? they are like everywhere!

Yes, but, from memory, their sales/profits are in a constant state of decline...

[Peter Crisp]

I have no idea but it could be due to the fact that the company makes no money. They do have good parts like the fact that we own all the BBC DVD distribution rights but.

[JiggerJay]

The good thing about Woolworth's only being worth 7p a share is that they cant plunge on the stock market unless they start to be worth minus money.

Woolworth's are thus unkillable.

only 7p a share? why so low? they are like everywhere!

Yes, but, from memory, their sales/profits are in a constant state of decline...

I never really noticed, I dont shop in there, anything i want i.e DVDS or Games i can get cheaper on the highstreet or even cheaper online.

A question for you lot then, has this current "economic situation" changed your current spending patterns? (I refuse to call it a "credit crunch," its such an american strawberry float up term!)

As previously mentioned i have no real bills or jobs! but i am being more conservative with my money, only buying things that i need or are on offer! I am a sucker for cheap dvds! I still refuse to buy most of my games 9bar the odd exception) at full price. When I can guarentee in most instances that i will be able to get it about half the price in the coming weeks.

[Peter Crisp]

I have decided to buy only 3 more games this year but thats mainly due to me having 2 Lovefilm accounts (one a 3 disk with games) pre-paid until March 2010.

[JiggerJay]

I have decided to buy only 3 more games this year but thats mainly due to me having 2 Lovefilm accounts (one a 3 disk with games) pre-paid until March 2010.

I think i only have 3 full price games that i plan to buy between now and xmas, (Fable 2, Fallout 3 and Mirrors edge.)

[Hexx]

I never really noticed, I dont shop in there, anything i want i.e DVDS or Games i can get cheaper on the highstreet or even cheaper online.

That's why their sales are declining

A question for you lot then, has this current "economic situation" changed your current spending patterns? (I refuse to call it a "credit crunch," its such an american strawberry float up term!)

As previously mentioned i have no real bills or jobs! but i am being more conservative with my money, only buying things that i need or are on offer! I am a sucker for cheap dvds! I still refuse to buy most of my games 9bar the odd exception) at full price. When I can guarentee in most instances that i will be able to get it about half the price in the coming weeks.

All my bills are inclusive, and my rents just gone down (landlords mistake FTW!)- so not there. Although I will be carefulover Christmas as I don't want a huge inclusive rent rise in spring.
Fuel - definitely noticed, but only fill up once a monthish so £5 a month isn't much.
Food - yes and no. Yes if I'm eating "badly" and buying lots of packaged good, but then I've started eating much better so my weekly shop is cheaper.
General Spend - Hard to say - I'm awful with money. I'd say I'm spending the same, but I'm making sure to spend it "better"

[Ecno]

Has Andy XL declared Bankrupcy yet? I think the XL is the give away like the travel agent of the same name he has run out of money.

[Hexx]

That reminds me if anyone whats a cheeky/jokey presentation that explains how the Sub Primie thing happened - ask me.

Review from Skarjo soon

[Ecno]

I think the FTSE will level out and won't dip much more after 2pm and certainly not below 5000.

Good Guess.

Isn't that basically how Investment Banks make money?

[Hexx]

I think the FTSE will level out and won't dip much more after 2pm and certainly not below 5000.

Good Guess.

Isn't that basically how Investment Banks make money?

Quite possibly.

[Alvin Flummux]

I think the FTSE will level out and won't dip much more after 2pm and certainly not below 5000.

Good Guess.

Isn't that basically how Investment Banks make money?

Quite possibly.

Let's open our own Investment Bank and find out.

[Hexx]

I think the FTSE will level out and won't dip much more after 2pm and certainly not below 5000.

Good Guess.

Isn't that basically how Investment Banks make money?

Quite possibly.

Let's open our own Investment Bank and find out.

I'll give you £7.36 for an 80% share of your business....