* Posts by Ledswinger

4491 posts • joined 1 Jun 2012

Chilcot's IT spend: Tighter wallet than most public sector bods

Ledswinger
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Re: Jaysus £30.8 million

Isn't that about how a solicitor normally costs?

Well, technically Blair is a barrister, not a solicitor.

He's also a warmongering arsehole, with the blood of thousands on his hands. And to the £30.8m, you need to add the costs of UK military involvement (about £10bn), plus Blair's share of the cost of rebuilding Iraq and now Syria - something of the order of a trillion quid, perhaps 80/20 split between Bush and Blair.

Could somebody do up a nice invoice to the evil charlatan, in the sum of £810,030,800,000.00, and send it him here:

http://www.tonyblairoffice.org/

And don't forget to post a copy on social media.

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Ledswinger
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Re: Canadians - one reason to thank Jean Chretien

He also helped rename "French Fries" to "Freedom Fries" in America because of that.

What's the French for "burger munching war monkeys"?

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Ledswinger
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Re: 179 lives, 7 years, £30 million, culminates in...wait for it...

since the referendum result was due to the Leave campaign focussing on immigration, ......., you could say that Blair is responsible for the current financial crisis, which continues.

No and yes, respectively. The current financial "crisis" is simply an overdue reset of the sterling exchange rate, and Brexit is simply a trigger rather than any cause. If anything, pre-Brexit, our EU membership unjustifiably propped up the fraud of $1.50 exchange rate despite no supporting logic to that. So Iraq 2003 has no real bearing on Brexit or current financial events.

However, you're right that Blair is responsible for where we are, by virtue of Gordon Brown's vast expansion of unfunded public spending (and future commitments), lax monetary policy and flagrant disregard for prudent financial sector regulation. The subsequent clowns have merely been inept in reforming the mess on at least the first two of those. We'll find out about the third when the next shoe drops - be that a real run on sterling, southern Europe's debt crisis going critical, Japan's government going bust, a hard landing in China, a repeat of the 2008 solvency crisis, or even a US-led economic depression. All have modest likelihood of materialsiing on their own, the chances of at least one occurring is quite high. And that's without the geopolitics where risks include the Nork's provoking a war in Korea, the chance of revolution in Saudi, the Israeli's going to war with anyone, economic collapse of Mexico, Brazil or Venezuela, or Erdogan going rogue in Turkey.

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£8 BILLION is locked into UK.gov's failing IT schemes, El Reg analysis reveals

Ledswinger
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More shared services screw ups

Shared services are a sensible idea when you've got transactional repetitive tasks that you want to be done well, but also realise economies of scale - stuff like non-specialist procurement, payroll, accounting, payables and receivables, basic HR administration. Done well they can actually be a real assistance to the operations they support, and they should be relatively cheap to implement. I know I've been part of the management team of a successful shared services operation for a large company.

Sadly, whenever you see the words "shared services" in connection with the public sector, you know that a complete screw up is unfolding, involving expensive and ineffective contractors, waste on IT systems that don't work, user dissatisfaction (though we generally don't hear much of that, users have to suffer in silence).

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Remember those stupid hoverboards? 500,000+ recalled in the US after they started exploding

Ledswinger
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Re: Huh?

suffered 42 incidents of injury and/or damage

From 500k devices? Sounds pretty good odds to me. And far better odds than a Hotpoint tumble dryer, where about a million faulty devices (under varying brands) have caused something around 2,000 fires in the UK.

Mind you, I'd imagine that the hoverboard figures would be dramatically worse if they included the hospital attendances from people falling off them.

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Outed China ad firm infects 10m Androids, makes $300k a month

Ledswinger
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This story ought to be flogged in any advertiser's face when they wonder why we don't trust/like them.

I'd suggest they know, and don't care. When you look at the behaviours and reputations of the big beasts in advertising, they appear to be utter ***ts. I'm sure they're bright enough to know that they're as welcome as the four horsemen, but because of the pyschopathic need to be ever richer that affects the very rich (note 1) they really don't care what is done, so long as they continue to rack up more wealth than they can ever benefit from. This extends well beyond the realms of advertising, and includes communications, technology, financial dis-services, and anywhere else you find people rich enough not that they don't even know how much their personal wealth adds up to.

Note 1: I wonder if this particular pschopathy is contagious and that's why every billionaire throws every ounce of their being into making themselves richer? If by some miraculous fluke I became a billionaire, would I too suddenly lose any sense of morality, empathy, and social responsibility?

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Ledswinger
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USD 300,000.00 = GBP 225,832.50 *

* Interbank rate 2016-07-04

Give it a couple of months and the interbank rate will be the same exchange rate as most US tech firms use anyway:

USD 300,000.00 = GBP 300,000.00

Not that that is a wholly a bad thing unless you were planning a holiday in Disneyland Florida. I suppose there's always Disneyland Paris......

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5 years, 2,300 data breaches. What'll police do with our Internet Connection Records?

Ledswinger
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Re: Theresa May is Watching You

You sound like the cretins who keep track of the dresses celeb's wear, then call foul ....

Are you new round here? Most of the commentariat are highly intelligent, borderline aspergers sufferers, who neither know nor care who the celebrities of the day are.

But we do know that politicians are incompetent self serving deserve every possible insult. Now, if you want to side with Mrs May, then feel free, but I'm guessing that you won't get much support round here.

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Ledswinger
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Re: Theresa May is Watching You

I saw the server name in the URL and made the correct decision. My head is still empty.

I knew that the source would put off those lacking in moral fibre! But I encourage you to reconsider - it's worth it to imagine her seeing the same picture and asking herself "WTF was I thinking when I chose that?"

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Ledswinger
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Re: Theresa May is Watching You

A version of Servalan, minus the exotic wardrobe.

Yes, but there's an interesting picture of her coming out of number 10 in a dress that probably wasn't intended to create the impression of large-jugged see through laciness:

http://www.dailymail.co.uk/news/article-3674858/Tory-leadership-hopefuls-relaxed-KARAOKE-session-grilling-fellow-MPs-night-Stephen-Crabb-singing-Don-t-Stop-Now.html

Bwahahahaaha! Try and get that out of your head now! Hopefully that's not put anybody off their stroke.

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Ofcom is to get powers to fine mobe providers for crap service

Ledswinger
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Re: Fine?

Exactly the same problem arises with Ofgem / energy companies / customers,

That is the case, but the outcomes vary dramatically. So Ofcom have done diddly squat for consumers for a very long while. Ofwat have done a pretty good job of regulating the asset-based water business to keep costs under control whilst delivering a decent service. Ofgem on the other hand have become a rabid dog, forever running round snarling, growling and fining energy companies (something approaching £290m in the last five or so years, all paid by you). It wields undue influence with the sub-par policy makers at DECC, and between them they have come up with complex, expensive programmes that add millions of quid a year to customer bills (FiT, Green Deal, etc). It comes up with regular "market reviews" that always have a bad outcome, from the original bankrupting of British Energy, through to the more recent ill fated "Retail Market Review" that decided that you, the public, were too stupid to be offered more than four tariffs (and much of that is now having to be backed out following a long winded and expensive CMA enquiry, again all at your expense). it claims to be in favour of markets, whilst always trying to oppose their functioning, for the simple reason that Ofgem has a preconceived view of what energy consumers ought to be buying, and that's very different from what you and I mostly want.

The really interesting thing is that the potential Ofcom fines are capped at £20k a day - so for a year's continued "offending" less than £7.5m That's more example of incompetent law making and regulation, because we're talking about small change to the big players. Vodafone have an operating profit around £1.4bn from their UK business, I think they must be laughing into their champagne at such trivial fines. If, on the other hand, you were a an MVNO with a handful of customers (and reliant on an MNO for most of your service quality), then that money matters.

So, BAU in the world of telecoms: Big players get away scot free, regulator toothless and useless.

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Post Brexit EU will spend 'stability and peace' budget funding Chinese war drones

Ledswinger
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Could it be that some Brexiters are upset bye the fact that the world is not only crying but laughing too.

Only the ones that can't think.

Our exchange rate has cratered, and that's marvelous news. Meanwhile the clowns of most of the EU are still locked in the perma-criss of the Euro caused by frozen, inaccurate "exchange rates" equivalences, with a vast chunk of southern Europe out of work, whilst Germany's order books are full. The EEC, EFTA were quite reasonable ideas, slowly and variably implemented. The EU and the Euro were appalling, madcap ideas, implemented precipitately and without foresight.

A day of reckoning will come, and that will involve either the break up of the EU, or the Germans accepting that they'll have to pay off a good chunk of southern Europe's debts. If you think otherwise, contact Jean Claude Juncker and Mari Draghi, who will be delighted that you know the answer, because they haven't got any solutions.

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Not your Imagination: Britain’s other chip giant posts biggest ever loss

Ledswinger
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Re: DAB

That doesn't save you in the long run if you've got a structural deficit. The bleeding slows down, but it doesn't stop.

Aha, allthecoolnamesweretaken, you're assuming ceteris paribus, and that's not the case. AND you're conflating the government's inability to keep its own spending in balance with tax income - with a much lower exchange rate and the interest implications, they can't dodge the bullet much longer.

A significantly lower exchange rate won't please the masses, but it is an achievement that almost every other government would give their eye teeth for. Look at Japan, and the failure Abenomics - that's going to end REALLY badly. Look at Italy bailing out their banks to try and pre-empt a bail in (Note for those not paying attention: Bailing-out your banks usually costs tax payers money, a bail-in costs depositors money; by the time of a bail-anything the investors have usually left the scene of the crime).

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Ledswinger
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Re: going, going...

Maybe they have to outbid a few rivals, but they can afford it, and it will still be cheaper than purchasing the IP plus all that "dead" weight.

It doesn't normally work like that when selling a company - occasionally it can, generally not. So each bidder doesn't know what the other bidders have put in. The administrators might run a single or two round auction, usually with pre-qualification for the first round.

Once qualified, you declare your bid, and hope for the best, the administrators take the highest bid. If you lose, and then come back and say "hold on, we'd have given you 50% more" the response will be "we worked for the creditors, you bid X, the winner bid X+10%, if you wanted to own it you should have bid more at the time".

Fag packet maths says that the costs of a total close down (non-insolvency) would generously be around £70m. From Apple's point of view is that material? I reckon not at all, but they will be happy to let Imagination fail if they think they've got other options - and in that respect they probably have a very good idea of what (if any) IP Imagination have for which there's no alternative.

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Ledswinger
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Re: going, going...

Apple are waiting for the fail so they can snap up the bits they want,...

Perhaps. But that would seem a very high risk strategy, since in an insolvency process other buyers might put in a better offer - either private equity houses looking to wring out a much bigger price in a few years time, or a competitor to either Imagination or Apple.

If Apple really wanted the IP, they'd buy Imagination now in a negotiated sale (so keeping out others), and the total price would be beer money to them. The losses closing down the bits they don't want wouldn't even be a rounding error on the Apple's quarterly results.

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Get ready for mandatory porn site age checks, Brits. You read that right

Ledswinger
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Re: It's not porn

I did not speak out because I was not a wanker.

If it's not an impolite question, how did you lose your hands?

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Ledswinger
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And then how would the sites operate with connections from outside the UK?

Why would they care? All this age verification crap is coming from that patrician twerp Cameron, aided and abetted by Sturmbahnfuhrer May.

May has a degree in geography, Cameron in philosophy, politics and economics. So between them they know the sum of f*** all in all matters of business, science or technology, and if they managed to mess up the UK's internet they would simply not understand why that mattered.

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New phones rumoured as BlackBerry cans BB10 production

Ledswinger
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Re: Hmmm.....

Never mind, at least Matrox still exist :)

No! Noooo! Are Matrox still a thing? I haven't heard the name for what, sixteen years.

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John Lewis CIO commands brand-new super-group role

Ledswinger
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Hope it works out for JLP.

Sadly I doubt it. The last time a big retailer put a bloke from the server room into the big chair, it was Tesco appointing CIO Phil Clarke as CEO back in 2011.

We all know how that ended up: his resignation, SFO investigations, sacking of the auditors, serial profit warnings, customer losses to the discounters, vast reputational damage, a massive fall in the share price, and a huge turnround challenge for his successor.

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Ledswinger
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Re: Begs the question

if Coby knew the outsourcing twattery that BA were planning to carry out a few years ago and bailed out early....

I doubt it. JL outsource their support for tech products and its awful - both employee knowledge, interest and problem ownership, but the processes are crap as well. So I suspect he's a believer in outsourcing anything difficult.

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Wealthy youngsters more likely to be freetards than anyone else – study

Ledswinger
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despite higher than average salaries, have a greater proportion of their earnings go on things like student debt & rent.

The argument you seem to be making is "poor, hard done by ex-students, forced into servitude by the betrayal of the Libdems and wicked Tories...but for that, they'd be high spending consumers voluntarily paying premium prices for content".

And the argument I'd like to proffer back is "Bollocks. Whiney, lazy tw*ts with a sense of entitlement where they've never actually done a proper job. Apparently it's OK for dustbin men and lavatory cleaners to spend any left overs from their meagre salaries on Sky, but if you're a milennial just come out of a three years dossing at university, it's always somebody else's fault".

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Michael Gove says Britain needs to create its own DARPA

Ledswinger
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The way this country voted last week, I can't see Britain capable of building a hitchBOT, let alone anything worthy of comparison to DARPA.

Maybe you're right. Personally I see it last week's vote as the embodiment of bloody minded exceptionalism in the face of received wisdom that is the root of much innovation.

Of course, it was DARPA that invented radar, tanks, jet engines, internet protocol, wasn't it?

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Can Ireland's grid green satisfy Facebook and Apple?

Ledswinger
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Re: Wave goodbye

At any scale, no. My employers were investors in a couple of large scale wave power technologies, but we've had to back off because there's no happy medium of low cost, reliability and durability, despite several million quid being thrown at those problems.

And the actual output is poor because what we're dealing with is very low head hydro, made worse by the low inefficiency of converting wave motion to some rotary force able to drive an alternator. That means that you'd need vast numbers of <insert solution here> covering large areas of the sea, and that in turn multiplies the shortcomings mentioned above.

And there's another problem, that the useable mid size wave power is very strongly coordinated with wind speed, and wind power is (relatively!) cheaper and easier to produce. So you'd be better off looking to lower the cost of offshore wind than trying to make jiggley squiggly squashy floatey things reliable and durable.

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Wannabe West Midlands gun smuggler jailed for ten months

Ledswinger
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it's nowhere near as certain as you seem to think.

Luckily for you, Mr Charitable, he's likely to be out after serving 40% of his sentence, so before Christmas. Hopefully he'll be living a lot nearer you than me.

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Lloyds Banking Group puts 640 techies and backroom bods on chopping block

Ledswinger
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next IT news story about LLoyds......a total cockup of services due to lack of IT personnel and using IT "services" in India?

Why just Lloyds? The whole financial services sector want to do this:

http://www.ft.com/cms/s/0/0950b37e-27fb-11e6-8ba3-cdd781d02d89.html

So let's see what the directors of these businesses want?

1) London banking bonuses (need to pay for world class talent, donchaknow)

2) Access to London, US (and briefly EU) markets

3) A nice, long established brand

4) Access to the English courts for litigation to fight the bank's corner

5) Access to London law firms to fight any legitimate claims against the banks

6) A market where your customers are well paid Europeans

7) A base where you can openly dodge all the employment protection, payroll taxes, pension commitments, etc etc by outsourcing all your "bread winner" jobs to third world locations.

Its enough to make you join the communist party and buy a subscription to Socialist Shirker. Well, almost.

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You can be my wingman any time! RaspBerry Pi AI waxes Air Force top gun's tail in dogfights

Ledswinger
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Re: Hopefully this will mean cheaper planes

One a superior engineered war machine.. The other a mass produced heap-o-junk...

Arguably the Germans had better small arms, better artillery, better tanks, better ships, better submarines, better field transport than almost anything the Allies had. The only military assets that the Allies had that were incontrovertibly better than the German equivalent were medium and heavy bomber aircraft (and perhaps aircraft carriers), and arguably something of draw on fighter technology. You can argue the toss on specific types and niches, but overall that's a reasonable summary.

So it would appear that cheap junk trumped superior engineering. Presumably this is the logic behind the F35: "No point in superior engineering, the enemy can afford cheap junk that'll win, so we need to counter with something they can't create: Expensive junk."

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Parliament takes axe to 2nd EU referendum petition

This post has been deleted by a moderator

Ledswinger
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@hewbass

This shows a deep lack of understanding of the impact of the result (assuming parliament acts on it): regardless of how we voted in the referendum we are either *all* losers or we are *all* winners....Looking at the state of sterling, the FTSE250, the FTSE100, the increased cost of government borrowing due to our credit rating down grades,

Errr, your comment shows a profound lack of understanding of the real situation, rather than that reported by a hysterical press.

Take the FTSE100. Actually, market-on-market it dived less and responded better than either German or French equivalents, both of which it had out-performed for the previous six months to boot. Follow the link below, select 6m for the time frame and add international peers CAC40 and Exetra Dax.

http://markets.ft.com/research/Markets/Tearsheets/Summary?s=FTSE:FSI

And the same chart will show you that we're still ahead of the January and February lows for the FTSE. So not really anything remarkable.

Next up, government borrowing. If the markets are actually accepting negative yields all over the shop (which they are) then the chances of having to pay meaningful interest is pretty low, FFS, the capital markets are taking temporary refuge in the yen. Anybody who knows anything about macro-economics will cry with laughter at fund managers doing that. Ain't going to last.

As for the exchange rate (to be fair to you implicit rather than stated) the UK has been living well beyond its means for years now, with vast trade deficits (most notably with the EU). So a collapse in sterling is not caused by Brexit, that's merely an overdue catalyst. If they knew what it really meant, British people would be holding street parties to celebrate the collapse in the FX rate.

To suggest that any party should run a manifesto of ignoring the will of the people shows two things: An unbelievable contempt for democracy (in which case, who are you saying should run Britain?), and an unbelievable ignorance of the need for the British economy to rebalance, reign in imports and foreign spending. You may interpret that last one as being some form of jingoism, but here's your check. Try spending 5% more than you earn next month. Put it on plastic, no problem. Now do the same next month. Ditto. Repeat every month for a decade. Now, how sustainable is that? Is sticking to the status quo even possible?

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Ledswinger
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Did the genuine signatories actually read it?

I doubt it, they're just bitter at the fact that the Remain camp lost. That more people voted "leave" than for any single cause in British history doesn't matter: Democracy has delivered the incorrect answer, so democracy is wrong. And the solution is to change the rules. Interesting to see the pickle the parliamentary Labour party is in, after an improved (that is, more open) democratic process to elect the leader also produced the wrong result, and the establishment MPs are using the Brexit vote to try and chuck out the leader who had the overwhelming support of party activists.

That's why you see some of the Remainers demanding ex-post rule changes, that the whole thing be re-run, that Parliament should ignore it. Any outcome is better than submitting to the democratic view of the population. There's some commentard further up this thread berating "the sheeple" for voting Leave, and that shows the same contempt for the population. After months of fear mongering by the government, by the official voice of Labour, Liberal and assorted nationalist parties, by the BoE, by the EU themselves, apparently we're still not to be trusted to come to a correct decision.

I think there is an amicable outcome possible. Give the Scots independence. Don't risk another referendum, since the SNP calculations for the Scottish economy won't fly at current oil prices. Then, the Scots can join the EU, all the south-of-the-border Remainers can claim asylum in Scotland, and then live out their days in a single party socialist state, where they can have both democracy AND a never ending socialist government within the EU. The Scots can get rid of other people's nuclear deterrents, England can scrap the Barnett formula.

What's not to like? The only thing I'd miss if Scotland went is the Union Jack.

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Tesco Mobile does what? Hahahahahahaha. Sorry customers

Ledswinger
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Re: £140 million over 5 years for 800 staff

I've heard it said that an employee costs twice what they're paid as salary, which makes the average salary £17500.

Well, the add on cost per employee is more like 35%, including NI & pension costs, holiday and sick leave (when you're off and being paid, somebody else has to be paid to do your job), then you've got training, internal support functions, payroll, HR et al, plus accomodation & facilities, and IT infrastructure, telephony, CRM and desktop. However, that 35% is per capita of call handlers, there's overhead on top of that form line management - directors don't handle calls, senior managers don't handle calls, but they're still part of your total cost build, including their high salary, better pension, bonus and car etc. The value of that line management overhead is very variable, and depends on the breadth of the management pyramid and how much they are paid.

So £35k per employee is an entirely realistic figure that I can recognise, but probably translates to a circa £20k salary for the staff in the call centre.

Under TUPE and UK living wage and pensions laws, there's now little real financial advantage in outsourcing to a UK based outsourcer, so my guess is that Tesco TUPE their staff to Crapita, and then Crapita move the work offshore, all of which is already planned.

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Home Office ignores plight of BA techies as job offshoring looms

Ledswinger
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Re: @Richard 12

And they are now sat twitching and dying, watching the blood pool around their torsos, wondering what happened.

Oh, the histrionics! It's a joy to see some Remainers decrying democracy, gnashing their teeth and rending their garments, prophesying the end of the world. Some even demanding ex post rule changes to the referendum. I must say this "the people are ignorant fools, we know what is best, we should ignore them" philosophy is very popular on the left of the political spectrum.

But lets look at what happened. All that happened was that we voted not to be dragged into the emergent homogeneous EU superstate governed by semi-elected nonentities in Brussels. Is that really a big deal? We'll still be a top ten world economy, and we'll still want to trade with the EU. If they don't, it will be their loss because of the trade imbalance, although hopefully that will start to right itself with sterling taking a necessary downward correction. And we'll have a whole world to trade with, that the protectionists of the EU keep at bay with a whole litany of trade barriers.

The bizarre thing, is the extent to which the supposedly liberal left approve of the ghastly exclusivity of the EU club, its two fingers to the developing world, its ring fenced wagons of ageing first world economies, sclerotic with interventionism and subsidy, and persistently crapping on the youth of Europe. Look at the horrifying youth unemployment rates in Greece, Spain, Portugal, France - presumably that's what you want Britain to emulate and have a share of?

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Ledswinger
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Re: You won't have to worry about all those Indians from the EU now!

After all Tata already owns Jaguar, one day it will own BA too,

Doesn't matter which nation owns the equity of a firm. Both of the companies you mention have a similar number of UK employees (BA slightly more direct, JLR far more when you include supply chains).

What matters is whether the jobs are good quality jobs, whether the company invests in training and education. I can't say whether BA or JLR do better in this respect, but knowing something of JLR's commitment to training I can say that it is one of the strongest companies in the world on this. If it's Indian owned, I don't mind, and good luck to them. Tata even tried to make a go of British Steel in the face of the British governments wicked indifference and industry-hating energy and environment policies.

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Ledswinger
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Re: Re:nobody wept for the country when Blair

It's either heads on spikes, or weeping in the corner.

Now your talking! I suspect we're not on the same part of the political spectrum, but as something of an old school Conservative, I'd like to offer David Cameron up for first bonce to grace a spike.

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Ledswinger
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Re: Re:second referendum

We need a "I weep for my country" icon.

Why? Isn't this called "democracy"?

As far as I know, nobody wept for the country when Blair had absolute control of the country in 2005, winning an absolute parliamentary majority with only 35.2% of the total vote, and a mere 21.6% of the eligible electorate?

You could do similar numbers for the more recent coalition and Conservative wins, but the point is, that's what we accept as democracy, and as a referendum this was at least pure proportional representation, with (by UK standards) massive turnout.

And one particular positive is the slap in the face that the electorate have given to the establishment, big business, EU plutocrats, and patronising Graun-reading types everywhere. Are you objecting to that?

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Ledswinger
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Re: penny wise pound foolish

ultimately costing BA more money.

But by that time everybody will have forgotten how much it cost before. Businesses have shockingly poor corporate memories, particularly for things like this that would show them up.

My multinational employer are in exactly this situation. Outsourced the basic infrastructure and services to HP, kept development and projects in house. Unsurprisingly the cost of services turned out much higher than the business case. So we foolishly cut our own projects budget to keep total IT costs the same. A few scant years later it comes as a huge surprise out that we've a massive backlog of IT investment needs, and that the resource needs are so large that we've exhausted the skills in our provincial city locations, and costs and timescale are at risk.

The next act in this tawdry and utterly predictable drama will be for our IT top-brass and corporate bean counters to say "surely an IT specialist can find us some Java developers in a low cost location and solve our skills and cost problem...". The pea-brains will then outsource the lot to Accunture or IBM Global Buggerups, and we lose all control and continuity, and find that in addition to outsourced services being crap and more expensive than doing it yourself, our projects become crap and more expensive.

And the remarkable thing about this, if the chimps in Procurement and the monkeys in Finance did their job properly, they'd realise from the published accounts of the outsourcers that any business case we see will be making very different assumptions about the cost to us, and the real average price customers get charged per outsource employee. For some reason, our decision makers seem to think that the big ITO and consultancies are not grasping, high cost middlemen, but some form of caring charity.

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Ledswinger
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Re: I'm afraid, as predicted

Generally the UK government seems to struggle doing it's day job. Gawd knows how it's going to cope unpicking the tangle of UK-EU connections.

Do you really think they intend to?

The establishment was absolutely united for Remain, and I'd guess that the schemes and bureaucrats will hope to string out the negotiations, with a view to running a second referendum when they've deliberately struck some bad prospective deals with the EU.

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Brexit government pledge sought to keep EU-backed UK science alive

Ledswinger
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Re: Boris Gudonov? @gerdesj

As the GBP:USD ratio tanks it would be nice to hear "she'll be right" (*) with reasoning from an authoritative figure that we can all respect.

The say that when the pupil is ready, the master will appear.

A tanking exchange rate is brilliant for the UK, albeit in the medium term. It strengthens our exporters who need all the help they can get. It makes imports more expensive and reduces demand (which we need to because we can't keep importing more than we export). If the EU choose to get arsey about trade out of juvenile spite, that helps the UK as well, since they buy far less from us than we do from them. Short term those levers won't get the response I describe, and people will moan "we should never have left" as import, energy and foreign holiday prices rise, but had we stayed then sterling would have remained over-valued, our trade deficit would have continued to grow, and we'd have gotten into a bigger pickle that would eventually have come home to roost in even more spectacular style. Simply holding membership of the EU doesn't enable countries to avoid their macro-economic problems forever, as Spain, Greece, Portugal have found, and as Italy, even France may yet.

And it is interesting to note the extent to which UK equity markets bounced back within hours to "only" 3% down, whereas German and French markets reacted worse and didn't recover as much - what does that tell you? The UK equity market had already outperformed European markets for the past six months, and in relative terms we've now improved further. I suspect some of that (relative) euphoria will unwind, but even so, this isn't the end of the world, it's just the UK stating that it wants to trade with Europe (if they are willing), not be governed by Europe. If they aren't willing, then we can all have trade barriers, and the UK can start the work to re-forge the valuable international commercial relationships that it has foolishly neglected for forty years, for the most part with much faster growing economies that those of the EU.

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Ledswinger
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Re: Gen IV

would be an appropriate time to upgrade the UK's nuclear research commitment to full membership of the Generation IV International Forum

Why? The UK will need new nuclear plant to replace the already-life-extended AGRs long before any Gen IV project becomes production ready. The Areva EPR is a total mess, and (hopefully) the obscenely overpriced Hinkley Point C project will now be canned. Areva still don't have a working EPR anywhere, EDF never wanted to build Hinkley Point once the costs became clear, and the French government will now see no reason to backstop EDF's finances.

Which means that the UK has two options for our electricity - a new dash for gas using CCGT, or to turn to proven Gen III nuclear technologies that can be built out serially at lower cost. It is possible that the AP1000 proposed for Moorside (Sellafield/Windscale/Calder Hall) might count, but there's still no working example in the world, albeit the projects under construction are neither as delayed nor as costly as the EPR.

I would suggest that a better nuclear bet would be for DECC to stop dicking around with multiple, unproven designs from rather unwilling consortia and to licence the Korean APR1400. There's s already a reference example in operation, and about another seven under construction, three of them at very advanced stages.

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Ledswinger
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Re: "Hook demanded an immediate pledge"

Keep in mind- the Norwegian and Swiss contributions to the EU budget- in exchange for access to the Single Market-...

If the EU block access, then there will be a lot of short term pain. But more for them than us, since we run a £50-100bn a year trade deficit with the EU and we'll be their single biggest export market. If they don't want to sell their cars here, fine by me, the UK needs to balance its trade books. The main risk is that our spineless politicians and incompetent bureaucrats are too stupid to realise that we have the whip hand in trade discussions and throw the advantage away.

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Tech firms reel from Leave's Brexit win

Ledswinger
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Re: London Falling

Equating consolidated share price drops with actual money is the most cynical sort of conflation. Do try a bit harder, assuming you even tried at all and weren't just parroting what you read in The Guardian.

That deserves a thousand up votes, but evidently the democracy-haters of the Grauniad classes are out in force today, whining that you and I have signed the death warrant of civilisation simply by saying that we wanted our sovereignty back.

Rather amusing to see that po-faced SNP crone weeping that she wants another referendum, so that the Scots can have THEIR sovereignty back, simply in order to surrender it to Brussels. Braveheart, where are you?

On the plus side of that, we English won't have to subsidise the Scots any more, AND without a base for Trident we won't be able to replace the pointless trinket, saving (according to the Graun) over £200bn. What's not to like? The Northern Irish can unite with the EU south, and that'll be another half a billion we'll be better off. And the Welsh can follow the Scots, but lets not wait for a referendum, just send them an email telling them they've been dis-united.

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Gartner: Brexit to wipe $4.6bn off tech spending in Blighty

Ledswinger
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Re: Whew!

2016's biggest political and economic disaster will be on the other side of the ocean.

What would that be? We've reclaimed our sovereignty today. What did you do before breakfast?

The biggest economic and political disaster was, is, and will continue to be US foreign and "defence" policy, UNLESS you elect the Trump (and possibly not even then). We in the UK have shared in the misbegotten schemes, but with Afghanistan, Iraq, Syria, Libya all failed states, Iran and Russia resurgent, I think we know very clearly what the biggest disaster is. You're right it is an ocean or two away, but it has a stamp on the side of the box that says "General Issue".

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Ledswinger
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..when the pound will recover...

Not anytime soon is my guess.

Irrespective of Brexit, the UK has run an appalling balance of trade (and payments) deficit for years and years now, and sterling should by rights have cratered a long time ago. In the first few months of such a change that is always negative because all internationally (invariably dollar) priced commodities become more expensive, and we import too much. This has been a contributor to the vast debt mountain that the UK sits on, although the failure of successive governments to match their spending to their income is also a big factor. Longer term, a weaker pound really helps our exporters, but it isn't a quick win, and government still need to stop spending more than they raise in tax.

The only reason sterling didn't go down before was that all the other genuinely tradeable currencies have their own macro-economic problems - mostly vast excesses of debt and unfunded welfare obligations.

There are some circumstances where the £ might recover - but driven by (for example) a collapse in Japan's moribund economy, by further shakedowns in the eurozone over the still unresolved southern european debt problems, by a hard landing and/or political instability in China, or similar global scale problems that make London look like a safe and receptive haven for hot money. Sooner or later some of those risks will crystallise.

Long and the short: The UK economy needed this exchange rate reset, we need to stay for a good while until (if ever) government gets the national books in order. But in the short term tech, energy, and imported goods will get more expensive.

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Israeli researcher fans fears: here's another way to cross the airgap

Ledswinger
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For instance, at one plant we supervise everyone has to go through two sets of security, one of which is a physical search, before you get to the secure area and even when there the servers are in a locked room.

Great defence against crappy cybercrims and low budget espionage. But mere theatre against nation state grade efforts. The attacker just needs to get their people recruited as one or more of the security detail (or blackmail those already there). As with any form of attack, the victim is only as strong as their weakest links, and the great thing about state levels of resource is that you can attack adjacent weakest links in a planned approach.

One has to assume if the Israeli's are letting this go public, its because it either doesn't work in the real world, or that they've found much easier methods.

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Maplin Electronics demands cash with menaces

Ledswinger
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Re: When I shop I want a flat playing field. not a supermarket selling eye-space

and that CE mark is strictly lip service

Everybody knows that CE stands for caveat emptor.

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Ledswinger
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Re: Who do they think they are?

Maplins is that store you drive past on the way to Aldi.

And Aldi are the people who pissed on Tesco's chips. Time was when Tesco was the main shop and you might risk Aldi for a top up shop. Now it is the other way round.

And even when there's a Maplin near an Aldi (etc) on retail parks with heavy footfall, Maplin remains a modern day ghost town.

Maplindroids! Wake up smell the coffee, and get a new job ANYWHERE!

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Ledswinger
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Re: Repeating the same mistakes

Woolworths closed down years ago..

But if you really want that "my name is Sam Tyler..." 1970's flashback, you've still got a few short days to savour it - until they've closed the last BHS.

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Ledswinger
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Screwfix have gone the same.

A bit, but not quite as bad. Toolstation appear to be where the trade shop now. I suppose Screwfix were doomed the moment that Bodge & Quodge bought them. And doubly doomed when that French woman they got in to run Kingfisher plc decided that they must be run as a single business.

It can only be a while months before they decide to relocate the Screwfix counters into B&Q stores to "make things more efficient and lower costs". Then Kingfisher have to react to the fact that the move cannibalises the B&Q mega-margins. So they put up Screwfix prices. Then the sales fall off, so they dissolve the Screwfix operations, and wrap the operation into B&Q's terrible on line operation.

I suppose Kingfisher have done well to run Screwfix tolerably well for 16 years (largely by leaving it alone), but it is always the same for acquisitions - sooner or later the corporate numpties will kill the acquired business.

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Ledswinger
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Devil

Re: Sad excuse for the company it once was...

If tomorrow will do, I order from hassle-free Farnell.

Bought three weeks ago by a Swiss mini-conglomerate for a 50% premium to the market price. So expect Farnell operations to be messed with, UK management to be reduced, and prices to go up to pay for the over-priced acquisition.

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Ledswinger
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Re: Cheeky bastards.

This has just made up my mind to stop shopping there completely.

To judge by their tumbleweed infested aisles, with the only other humans being bored employees, you could be The Last Maplin Customer. Our local branch is in the building that previously hosted the doomed Blockbuster, another dinosaur from the last century, which seems appropriate and prophetic.

So, we're agreed they're going to crash and burn. But which well known business will be next to shrivel up after outfit eking out its final days with a business model that time forgot, passed by via technology and t'internet?

My money's on WHSmith. Or Halfords.

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No contract protected against the risk of bid-rigging, says expert

Ledswinger
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Clueless Markets Authority

So, the CMA reckon bid-rigging is a problem, resulting in poor value for the taxpayer?

I suspect many, many public (and private) sector bids are rigged, but the real problem of poor value isn't the modest impact of that, but the vastly higher outturn costs of poorly specified bids, where big suppliers know that they can bid at a loss, and then clean up when the buyer starts to either change their mind on what they want, or asks for things that were evidently necessary to the supplier, but the buyer failed to include. And that also leads on to the subsequent inability of the buyer to avoid paying for failure by the supplier.

NHS IT, Universal Credit, DWP pensions modernisation, every government shared services project, every defence contract ever signed, regional fire control centres, MoJ Libra system, MoJ offendor management, Defra payments system......

I'd happily settle for rigged tenders if they actually delivered something that worked, on time and budget.

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