Corus

slackda

Little bit late on this but just remebered this.

How come our government will gladly step in a rescue muppet bankers but we can;t step in and buyout Corus (the Steel works that has just been shut down or going to be).

Im not suggesting that we rescue every failing company, there is common sense involved.

To me it makes common sense to have some state own'd industries and other services, such as power, water and raw materials.


Flame me if you will, but i would like to know others opinions on this?

Primble

totally agree. what hope has the construction indutry got if such a major supplier goes?

*Jo

ditto

blobbyh

Without meaning to sound xenophobic, it's a ******* national disgrace that we no longer own large portions of our industries and the fate of tens of thousands of our workers lies in the hands of foreign owners.

While we mock the French at least they're protectionist when it comes to their own national (as opposed to international) interests and the people rebel against anything they don't like. Britain has simply become a stamping ground for overseas investors (some might say profiteers) who buy once great companies who've sadly fallen on hard times, fleece the country and it's resources for all it's got, send profits abroad a la Tesco and Google then when things start to head south, close up shop and leave.

I know I sound like an advert for the BNP but seriously I'm not, I'm just a normal worker wondering how long the country's got left unless we do something.

CJC

Gee, you all sound like a bunch of Commies to me. This is just free market capitalism in action, the Thatcherite dream realised. Seriously though, could someone explain exactly how you're supposed to stop shares in publicly listed companies being sold to overseas investors?

As for banks, they should have been left to go to the wall just like any other business, might have introduced a few fat cats to the real world they're so keen for other people to live in.

Rinske

Banks have more money of the "normal" working people and Corus doesn't. Granted it comes with a loss of jobs, but that would have been the same for the banks.

But if you have been saving a lot of money to buy a house and the bank you saved with would go bust, wouldn't you want to have that money back somehow? I'm sure the government scheme of 50,000 per bank group per person would cost them more than this.

Besides that the government is now so broke, that they can't even afford to buy themselves candy, so they can't really afford to step in anywhere anymore.

You could probably bribe them by giving them a piece of chocolate. (figure of speech, please don't try this at home!)

blobbyh

CJC wrote: »

This is just free market capitalism in action, the Thatcherite dream realised. Seriously though, could someone explain exactly how you're supposed to stop shares in publicly listed companies being sold to overseas investors?

Thatcher can no longer be blamed for the collapse of the UK, especially after being gone for nearly twenty years this November and having had a labour government in power for the last thirteen. I appreciate things don't change overnight but surely after thirteen years in power, labour can't still be blaming the tories for everything otherwise where does accountabilty begin and end? The Thatcher argument is a very tired one and for many people, Blair and Brown have now done much more damage during their time in power than Thatcher ever did in hers.

As for selling shares to foreign investors, that's just the problem isn't it and a not easily solvable one? Selling off the family silver to all and sundry but then trying to impose constraints once it's no longer in your possession. We could impose unwieldy taxes on foreign imports to companies that don't have an active investment in the UK but are only here to exploit it? But then we'd pay more for our goods and it's our constant search for ever cheaper goods that got us here in the first flipping place. And finally stop companies who trade primarily in the UK, wrecking local economies, but registering their profits abroad.

Andypandy

And finally stop companies who trade primarily in the UK, wrecking local economies, but registering their profits abroad.
Hear hear!!

CJC

blobbyh wrote: »

Thatcher can no longer be blamed for the collapse of the UK, especially after being gone for nearly twenty years this November and having had a labour government in power for the last thirteen. I appreciate things don't change overnight but surely after thirteen years in power, labour can't still be blaming the tories for everything otherwise where does accountabilty begin and end? The Thatcher argument is a very tired one and for many people, Blair and Brown have now done much more damage during their time in power than Thatcher ever did in hers.

Many people have short memories. It's not a question of 'blaming Thatcher' but understanding history and assigning responsibility - after all who was it that sold that 'family silver' in the first place? Furthermore, we unfortunately have a 'Labour' government who have swallowed Thatcherite ideology hook, line and sinker and have seen fit to continue the Thatcherite dream.

Guess what? The Thatcherite Right won.