I was looking forward to that as well, i missed it last year :( humph!
The British International Motor Show has cancelled next year's show as the recession starts to bite. Last year's show - it is on every other year - welcomed just under half a million visitors to ExCel in London's Docklands. But the recession has stuffed it up for next year's showcase. A statement on the website says: "The …
Recession. Didn't that used to mean a shrinking economy? Oh sorry, you can't say shrinking anymore, you have to say that the economy is exhibiting negative growth.
Sombody said last year that it's only a recession if the economy exhibits negative growth for three months in a row. Then that got changed to a downturn. What we have now has been changed to a slow down. Presumably next it will get downgraded to a sustained blip or some such nonesense. Nulabour probably won't call it a recession until about 24 hours after they lose the next general election. After which point they will claim that we are in a depression which is all the fault of the new government.
Spin. Doncha just love it?
"Venues like the NEC, the NEC and the NEC? Wouldn't want to mention Birmingham, would we?"
Spot on mate, I noticed the avoidance of the dreaded B word too - shame on you El Reg.
On the plus side this isn't going to affect Brummie jobs like it would've a few years ago. Cheers ExCel!
Alice Cooper is cool, but I doubt he could replace an entire convention center A/C system.
Next year they should contract El Reg to do the show as a Playmobil Proactive Reconstruction (of Events Not Actually Staged). In this way we could still marvel over the sorts of idiocies car designers think will be relevant in the sure knowledge that they will never see actual production at a fraction of the cost it usually entails.
IMHO, I don't think this downturn is going to get better any time soon.
Bernanke is doing another round of 'quantitative easing' when he's buying assets with freshly created money. So they won't slash the price on the backlog of cars yet, they'll hang on hoping for a turnaround.
This stupidity from the UK and USA just delays the fix. Right now, I don't want to buy any UK or US corporate bonds because I'll be paying in todays dollars and be paid back in devalued 'Bernanke' bucks tomorrow. So nobody wants to do that, which in turn means the Fed will have to buy more bonds and treasuries temselves.
It's self defeating, they're creating their own downfall. They should take the slower more steady route their taking in the Euro zone.
And if the car makers can't sell their backlog, they need to slash the price to clear them out, not wait hoping for a miracle (or perhaps bailout cash, a subsidy etc.).
It's like companies are all making themselves into victims to qualify for bailout cash because it's easier to accept money from government than to make money from trading in business. The more money they hand out, the more companies flail their hands in the air and demand free money.
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