FTSE down: DJIA up plus updates on BP and National Grid

    Interestingly, the FTSE finished down albeit off its lows due to unease about the escalating situation in Egypt. But, after opening flat on the same concerns the DJIA finished up!

    FTSE 100 @ 5862.94, -18.43 (-0.31%)
    DJIA @ 11891.93, +68.23 (+0.58%)

    BP: further updates.

    Well the company just cannot stay out of the news or away from controversy can it. This time its partners, the Russian Oligarchs, that share ownership of TNK-BP with BP, have voted against the fourth quarter dividend, which effectively denies BP access to what would be a $900m share (nothing worse than a billionaire that can't see where his next billion is coming from).
    This is ahead of its injunction against BP being heard in a London court tomorrow, the same day that BP issues its final results where it is widely expected to resume paying its own dividend.

    With regard to the oil and gas industry, this may seem to be almost a sideshow to what is currently taking place in Egypt, where the political unrest that has unbelievably brought the country to a standstill threatens the supply of oil and gas passing through the Suez canal. In turn this has pushed the price of oil up to $100 per barrel for Brent crude.

    BP @ 484.85, -1.95 (-0.4%)

    National Grid to restructure US business.

    Elsewhere, National Grid jumped after announcing that it would be restructuring its US operations into a regional structure with expectations of efficiency and cost savings totalling $100m to be realised in 2011-12.
    The company also re-iterated its profits guidance following a strong first half momentum being carried into the second half to date.

    National Grid @ 552.5, +6.5 (1.19%) 

Post Title

→

FTSE down: DJIA up plus updates on BP and National Grid


Post URL

→

https://national-grid-news.blogspot.com/2011/01/ftse-down-djia-up-plus-updates-on-bp.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

The Joy of Green Cleaning – Book Review

    by Michael Smith (Veshengro)

    jogl The Joy of Green Cleaning
    4th Revised Edition 2011
    by Leslie Reichert
    available as E-book and as bound copy
    97 pages
    ISBN: 978-1-4276-3444-3 (E-book)

    Ed Begley Jr., Environmental Leader, Author & Actor says about this book: “I love this book! A simple, yet necessary resource for learning how to take the toxins out of your home.”

    The fact is that we are using way too many toxins in our home to kill everything bacterial and that is not good.

    Our Elders kept a clean home with materials to hand such as soap, vinegar, etc., and also a fair deal on elbow grease.

    It was a clean home but not a sterile one. A sterile home is a dangerous one, foe you and me, the environment and the Planet as a whole.

    Our great-grandmother and even grand-mothers would have cleaned their homes with four simple things: white vinegar, salt, baking soda and Borax, just like Leslie's great-grandmother has done. Many, like the author's great-grandmother, lived to be very old and would have cleaned their entire lives without using any antibacterial spray, bleach, or the other things we are told we need to use to keep our homes truly clean.

    For too long, though only some twenty or so years, have we been throwing antibacterial cleaners at bacteria in our homes, killing all the beneficial bacteria while making the many of the nasty ones stronger and thsu we have caused great harm.

    It is a proven fact now that Triclosan and other antibacterial agents are the main cause of the MRSA and other such viruses and bacteria that have become resistant to anything that we can throw at them. The overuse of antibiotics in medicine, human as well as veterinary, and the overuse of antibacterial agents in the home and elsewhere are coming to haunt us and bite us in the behind, if we are not very careful.

    We don't need all those chemical agents. The truth is that most regular cleaning can be done without any toxic chemicals. Simple things in your kitchen cupboards can do a great job cleaning your home. Baking soda, vinegar, sea salt, lemon juice, and hydrogen peroxide can be used in place of most grocery store cleaners.

    This book is a valuable guide to non-toxic, though I have my reservations as to Borax and hydrogen-peroxide, as they are not as harmless as may be thought but as long as they are not ingested and treated with respect they are fine. At least they break down harmless in the environment.

    I have been using vinegar myself for many cleaning applications and have found that it does not have to be necessarily distilled white vinegar; ordinary Malt vinegar does the job well and cider vinegar is the best of all.

    Burned on stuff in a saucepan or crock pot? Put in a cup of neat vinegar and leave standing for a couple of hours, then put into the dishpan in hot soapy water and soak for a few minutes. No need to do lots of scrubbing, it just comes off.

    Vinegar is one of those, in my view, miracle things and we are really undervaluing it. It has so many uses aside from putting it on our fish & chips (chips are potato fries to our American cousins).

    I will admit that I have not tried the recipes for natural cleaners in Leslie's book as yet but am aiming to do so. I have had had enough bad experiences by now with chemical stuffs. Nearly ended up with searing of the lungs the other day by putting some bleach into cleaning water that had a load of vinegar in it. Yikes! Chemical warfare agent for sure.

    I have but one little negative remark but that is as to the layout of the E-book and not in any other way. It should be centered rather than left and right aligned as, is anyone would wish to print and bind this E-book, especially if they print single sided on previously used paper as I do, they might have difficulties reading the left aligned pages.

    I have found that centering the pages in the payout and having page numbers in the center in the footer is the best way of laying out an E-book for, while some folks may read such a book – or any E-book – on the computer screen, there will be many who wish to print out a copy for themselves. I know that I prefer it that way.

    On the other hand, this is a much needed book and I can but hope that it will bring many people into the realm of green cleaning.

    © 2011

Post Title

→

The Joy of Green Cleaning – Book Review


Post URL

→

https://national-grid-news.blogspot.com/2011/01/joy-of-green-cleaning-book-review.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

People beginning to understand that life is changing

    by Michael Smith (Veshengro)

    The more conversations on the subject of peak oil and changing climate and such I am having the more I am coming to realize that there are “ordinary” people out there that are of my generation or old that, in fact, are getting the message that life is going to change and that drastically, from what we have known in the last 50 years or so.

    Like myself they realize that the time of cheap oil is over and many even welcome that fact and the fact that we will have to get back to horse and such for much of what we have to do and to a future “made by hand”.

    This is not just the result of a few conversations but more and more people agree when this is mentioned and here especially those that have lived through World War Two and the lean times afterwards and they can all see it, including our need to go back to using horses in farming and transportation.

    In early January 2011 industry has now told the world that the affordable electric car is still going to be a fair way away and as far as I see it it probably will never ever arrive due to the increasing costs with cheap oil running out.

    What does cheap oil has do with the electric car and its affordability, you ask? The answer is that without cheap oil the manufacture of the car will become more and more expensive, as will be its transportation across the globe, and thus the price will get even more expensive.

    Thus, as far as I can see it, and as far as I can see I am not alone there, that we may have to rethink how we are going to get about.

    In another article I have already mentioned the issue of the affordable electric car and the truth is that, for the ordinary you and me, I believe, the electric car, especially the like of family saloon cars, will not come to pass.

    What will that mean to the ordinary you and me and our families as far as transportation goes?

    The answer here must be that, unless we have the funds for horses and horse and cart, it will be Shanks' Pony and the iron steed, the bicycle.

    I even have a problem to see public transport to still be in existence as we know it today. Human power and thus human-powered vehicles, that is to say bicycles and their derivatives, will be the order of the day.

    But transportation is but one issue as regards the end of cheap oil and other aspects will be even more difficult for many of us because so much today depends on oil, on cheap oil.

    Profound changes will come about and we will have too return to ways of our forefathers in doing and making things. Finally, as well, the throwaway economy, -society and -culture will some to an end and certainly not before time.

    Natural materials than can be forked by hand in old ways will come back to the fore, such as wood, linen, leather, etc. and I am waiting for the vegan to say that he or she will not wear leather, as regards to shoes or whatever, as not substitute will be available.

    In a way life will get back to normal as it was ordained by the celestial powers and we will, once again, come to value Nature for the gifts that we will need to live.

    However, for those that are not prepared it will be a rather rude awakening and especially to those that have become so used to the modern way of instant gratification of any want and who have to come to see things as a entitlement, of having a right to this or that and that immediately.

    It is those that will be in for the rudest of awakenings and the rest of us will have to find ways to defend ourselves against those of that group that refuse too understand that the entitlement state never existed.

    © 2011

Post Title

→

People beginning to understand that life is changing


Post URL

→

https://national-grid-news.blogspot.com/2011/01/people-beginning-to-understand-that.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Former school building in Waterworks Lane

Labels:
    Anyone know if there are any plans to make use of the former school building in Waterworks Lane? It is, we think, the only listed building in the Leabridge conservation area and is mid C19 tudor style. Unfortunately, this building is identified by English Heritage on their Buildings at Risk Register. It formed part of the Paradise Park development and some repair work was done on it, but work seems to have stalled. There was talk of a local museum or educational facility. If anyone knows more, please do leave a comment. Sad to see it left so neglected!

Post Title

→

Former school building in Waterworks Lane


Post URL

→

https://national-grid-news.blogspot.com/2011/01/former-school-building-in-waterworks.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

National Grid: October minutes

Labels:
    Only just noticed the minutes from October National Grid meeting were posted on the We Love Millfields facebook page: National Grid October meeting.
    Things don't seem to have moved on much so thought worth noting here.

Post Title

→

National Grid: October minutes


Post URL

→

https://national-grid-news.blogspot.com/2011/01/national-grid-october-minutes.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

UK gasoline price hits record high

    by Michael Smith (Veshengro)

    The Automobile Association (AA) has joined others calling for British Chancellor of the Exchequer, George Osborne, to scrap the next planned increase in fuel duty on April 1, 2011.

    Pump prices hit record levels on Friday 28 January 2011, piling pressure on the government to cut fuel duty.

    Fuel has now passed the previous high seen in the summer of 2008, pushed up by a combination of a near $100 per barrel crude oil value and a succession of tax increases and the average price of diesel has hit £1.34 a liter and gasoline is at £1.29 a litre.

    This means that it costs more than £60 to fill up even a small family car; and I doubt that people with slightly larger cars will get away with less than £80-£100 to fill up the tank.

    How people will be able to continue with business-as-usual commuting to work in London from places several hundreds of miles away beats me.

    If this is anything to go by – though some of the increases at the pump could also be due to the recent increase in VAT (sales tax) from 17.5% to 20% – then the members of the think tanks that suggest that we could be reaching the £15 to £20 an Imperial gallon of gasoline and diesel within the next couple of years could be right.

    Some of the price increase does have to be laid at the rise in crude oil prices and with the issues in Tunisia, which have now spread to Egypt, and could spread to other Middle East countries, the price of crude go well about the $100 a barrel mark.

    Motoring organizations said that the new diesel price meant that drivers were paying nigh on 20 pence per litre more than a year ago, adding £9.61 to the cost of a typical 50-litre refill.

    The soaring price of gasoline and diesel can be expected to trigger anger against BP and Shell when they announce big increases in profits next week. US oil group, Chevron, has just reported a 72% increase in fourth-quarter income to $5.3bn.

    The cost of heating oil has risen by about 75% this winter and the price is still rising and therefore there are other people even worse off than the “poor” motorists.

    In rural areas of Britain central heatings are predominately run on heating oil and it is becoming more and more expensive for people living there to heat their homes. In addition to that thefts from domestic heating tanks are being reported all across the country, which are fuelled – pardon the pun – by the cost of diesel and, despite the fact that there is a dye in heating fuel in the same way as in agricultural use only diesel, this oil is finding its way onto the black market as diesel.

    As far as I am concerned this all points to rather troubling times ahead and, personally, though I hate to be the harbinger of doom, I do not believe that it will get better either, especially if the likes of the ITPOES people are to be believed.

    © 2011

Post Title

→

UK gasoline price hits record high


Post URL

→

https://national-grid-news.blogspot.com/2011/01/uk-gasoline-price-hits-record-high.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Apple to Pears Folding Pocket Secateurs – Product Review

    Review by Michael Smith (Veshengro)

    Folding Pocket Secateurs

    Apple to Pears Product Code: 420160

    Trade only

    Folding_Pocket_S_4ce1348f027b6 These secateurs fold down to just 3cm x 9cm and slip into a special pouch. These secateurs will cut through an impressive 15mm stem and hidden inside the handles there are four other useful tools – garden knife, mini saw, weeder and handy-tool. Now available in his and hers options.

    Normally folding tools can be a bit of an issue as the handles are more often than not rather uncomfortable. Then again those pocket multi-tools, and these folding secateurs fit into that category and bracket of pocket tool, are not intended for prolonged use, be they Leatherman Tool or whatever make.

    However, these secateurs have fairly good scales on the handles which means they handle – pardon the pun – well and are quite comfortable indeed, as far as folding tools go.

    While these folding secateurs from Apple to Pears are, indeed, tough enough to cut 15mm diameter seems it would depend on the material as to whether I wanted to do it too often as I tend to gets parts of my hand trapped between the grips. Don't ask me how, but I am good at things like that. The secateurs do look, however, well enough constructed and should stand up fine in the use for which they are intended, They are, though, not a replacement for full-size secateurs in gardening work.

    I must say that I have seen and handled a number of different folding secateurs before, as they were and are in use by some local authority park and countryside ranger services and the “Apples to Pears” folding pocket secateurs feel by far superior to all those.

    Obviously, like all pocket tools, these folding pocket secateurs are no replacement, as I have said already, for a full size pair when more than a few occasional snips are called for. I would not wish to prune a tree with them or a vineyard for hours and that is also not for what they are intended. They are, however, and that is what they are meant for, great for having on you when pottering around in the garden to dead head flowers as and when you see them at the spur of the moment rather than to have to run back to the shed to get your pruners and also great for doing the kitchen harvest.

    These secateurs now come in a his and a hers option with the his one being black and green and the hers version being pink. The his version comes with the black nylon belt pouch while the hers one comes with some plant labels in the box. The his version of the secateurs has 4 mini tools inside the handles, the hers version only two.

    While the his version does come with a nylon belt pouch I, personally, find it to be rather a fit for the tool and the nylon material also a little thin and would just rather slip the tool into a pocket. This, however, may also just about be the only slightly negative take of mine on the folding pocket secateurs from Apple to Pears.

    © 2011

Post Title

→

Apple to Pears Folding Pocket Secateurs – Product Review


Post URL

→

https://national-grid-news.blogspot.com/2011/01/apple-to-pears-folding-pocket-secateurs.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Investing in carbon capture and storage Nature's way

    Stopping deforestation, greening agriculture better than carbon capture and storage, says UNEP Report

    by Michael Smith (Veshengro)

    It does, does it? OMG, how new, NOT. It is mind-boggling what those scientists are capable of discovering at high cost which everyone else knew long ago.

    Should it not have been obvious, without the need of spending millions on (fake) research, that reafforestation of areas and looking after our forests and woodlands on a worldwide basis, and this includes their proper management, is better than any other means of “carbon capture” and “-storage”?

    Boosting investments in the conservation, rehabilitation and management of the Earth's forests, peatlands, soils and other key ecosystems could deliver significant cuts in greenhouse gas emissions and avoid even more being released to the atmosphere, a 2009 report by the UN Environment Program (UNEP) says.

    Achim Steiner, UN Under-Secretary-General and UNEP Executive Director, said that tens of billions of dollars are being earmarked for carbon capture and storage at power stations with the CO2 to be buried underground or under the sea.

    But, he said, that perhaps the international community is overlooking a tried and tested method that has been working for millennia, the biosphere and that by some estimates the Earth's living systems might be capable of sequestering more than 50 gigatones (Gt) of carbon over the coming decades with the right market signals.

    In other words, what he is saying that forests and other such lands would be much better in carbon capture and -sequestration than anything else that could be conceived by man.

    Now who would have thought?

    This is something that foresters, including and especially professional commercial foresters, have told everyone for ages and ages but they have been looking at other methods. Why?

    The answer to the rhetorical question is that natural ways are way too simple and cannot generate a huge profit for the companies involved in making and marketing the systems.

    Aside from protecting and maintaining and preserving the forests, woods, peatlands and other such areas we must actively plant new forests and woodlands and manage our woodlands and forests in such a way that they are beneficial for carbon capture.

    In addition to that we must make use of forest products and debris more rather than leaving thinnings out there in the woods as so-called habitat piles to rot away where they release the once captured carbon and in addition to that lots of methane.

    While some habitat piles are needed indeed to encourage a greater fungi population most of what is claimed to be left “for the wildlife” constitutes nothing but bad and lazy forestry practices.

    Let's get back to normality of a clean forest floor and of using the wood in a proper way, from burning it (carbon neutral) to making things from it (carbon negative), instead of using plastics all the time and just leaving the woods to fall apart.

    © 2011

Post Title

→

Investing in carbon capture and storage Nature's way


Post URL

→

https://national-grid-news.blogspot.com/2011/01/investing-in-carbon-capture-and-storage.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

IOG Apprenticeship in Groundsmanship

    IOG breaks new ground with the launch of groundsmanship apprenticeships

    by Michael Smith (Veshengro)

    The Institute of Groundsmanship (IOG), the leading membership organization for everyone involved in the management of sports pitches, landscape and amenity facilities in the UK, has announced the IOG Apprenticeship in Groundsmanship – a work-based program available to aspiring groundsmen and women.

    Providing a choice of options – Apprenticeship Level 2, Advanced Apprenticeship Level 3 and Higher Apprenticeship Level 4 – and routes (ie work-based diploma, foundation learning, GCSE/A Level and employment with training), the programme is targeted at anyone aged from 16 years. The IOG Apprenticeship will take between one and three years, depending on the Level chosen.

    Explaining that the new Apprenticeship is the latest in a comprehensive range of affordable education services delivering high quality and accredited qualifications at every level of groundscare Ian Lacy, the IOG’s Head of Professional Services, says the new scheme follows the successful recent launch of the IOG Young Apprenticeship Scheme as a curriculum option for students aged 14 at Harefield Academy, St Albans.

    “The IOG Apprenticeship, a work-based (on- and off-job) programme designed around the needs of an employer, leads to nationally recognised qualifications such as diplomas in Groundsmanship and greenkeeping accredited by City & Guilds land-based services,” he says. “The majority of the time is spent in the workplace and supported by a mentor (usually the head groundsman or a fellow member of staff) and the remaining time is delivered by the learning provider, the IOG.

    “To support the new scheme, the IOG is offering a ‘one-stop shop’ apprenticeship service which includes screening literacy and numeracy, assessment of occupational skills, advice on learning styles and psychometric testing, plus help with the induction and sign-up and the assessor visit, and ongoing monitoring of progress.

    “Apprenticeships are the Government’s primary route to skills and employability, and such a formal springboard for a career in groundscare has been sorely missing – until now.”

    This scheme is something that we all in the industry, and especially those that wish to enter this field, have been waiting for for a long time. While it is possible to study groundsmanship at a number of agricultural colleges this is a much better way, as are apprenticeships in general and we need many more, in the parks and gardens field as well as in others.

    © 2011

Post Title

→

IOG Apprenticeship in Groundsmanship


Post URL

→

https://national-grid-news.blogspot.com/2011/01/iog-apprenticeship-in-groundsmanship.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Big week ahead for BP, plus updates on BG and Aviva

    BP @ 486.8p report final results on Tuesday this week with the expectation that profits will jump due to the increasing oil price. The company may even reinstate its dividend (albeit at a lower level than previously) which will be welcome news to investors particularly within the Pension fund community where the company has traditionally been a big contributor with its formerly chunky dividend yield.
    Otherwise analysts and watchers of the company will be looking for an update on the costs of the Gulf of Mexico disaster and the company's fund raising divestment programme. Finally, the current spat with TNK-BP partners over BP's new found friendship with Rosneft has resulted in legal actions from the partners which company watchers will want updating on. 

    On a further sour note despite the much heralded deal with Rosneft and what it says about Anglo-Russian relations, the Russian state backed company has signed a further deal with BP's rival ExxonMobil to undertake a joint venture in the Black Sea. It will be interesting to see how the US authorities respond to that given the nature of their objections to BP's deal!

    Royal Dutch Shell reports 2 days later.


    BG Group @ 1334p. Elsewhere, after a raft of good news in recent weeks there are rumours doing the rounds that BG may soon become the recipient of a take-over offer. The company's share price has continued to trade with a "take-over" premium for many years with Royal Dutch Shell deemed the most likely in an attempt to shore up its reserves following its misrepresentation and overstatement of reserves in recent years. 
    The company has kept itself in the news recently with its successes in its Brazilian operations and it may be that analysts are just pumping up the takeover talk to try to convince a likely buyer that the time is right. Not holding my breath though and not sure if I want to lose my investment for a short term profit given the success of the company and its management.


    Aviva @ 450.2p I haven't spoken much about Aviva lately but the company is now showing a decent profit of 20% against my investment following the 3rd of 3 promised updates to shareholders. This 3rd presentation set out to demonstrate the company's financial strength in a presentation to analysts and investors to underline its recovering progress and balance sheet. 
    Previous presentations in July, covered the company's cash and dividend policy and, in November, its strategy.
    The highlights of the 3rd presentation were:
    - a vastly improved pension fund deficit which, at the end of November, stood at £0.4bn from £1.7bn the year before.
    - Net Asset Value of 617p per share against the current share price of 450.2p.
    - plans to reduce debt by a further £700m

    At 450p the company is still on a forecast P/E of 7.2 and a consensus dividend yield of 5.9%, or 25.74p (close to 2.5 times covered by earnings) so with the prospect that the company may continue to recover its share price my one regret is that I should have bought more. 
    Perhaps the opportunity is still there but my vision is being clouded by previous purchases at a lower price than today? The fact that I can now point to 617p as a Net Asset Value suggests that there is still 30% upside on any further investment I make at 450p.

    An article in today's Financial Mail supplement of the Sunday Mail also has Aviva mulling over a £7bn bid for rival RSA apparently this could be a means to bring Andy Haste (RSA's Chief Exec) into the Aviva group with the possible scenario of him running the whole operation. Seems a very expensive head-hunting exercise to me as well as seeming contradictory to the company's intent to reduce debt by £700m. 

    I don't think that I will be holding my breath waiting on either of the deals mentioned and wonder how to read the markets with so much "speculative" deal making going on? But, at least I continue to be confident of what would be 2 of my tips for the year (BP and Aviva), and the progress they are making.

Post Title

→

Big week ahead for BP, plus updates on BG and Aviva


Post URL

→

https://national-grid-news.blogspot.com/2011/01/big-week-ahead-for-bp-plus-updates-on.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

The New Home Front – Book Review

    Review by Michael Smith (Veshengro)

    The New Home Front (Report)

    Written by Andrew Simms (co-author of The New Economics and Fellow of nef) for Caroline Lucas MP to launch the New Home Front initiative.

    Published by: Caroline Lucas MP, House of Commons SW1A OAA, email: caroline.lucas@greenparty.org.uk  web: www.carolinelucas.com  

    nhf_coverThe New Home Front report was launched by Caroline Lucas, MP (Green Party) at the Imperial War Museum on Thursday 20th January 2010.

    This report, which states that Britain needs to be put on a war footing to tackle climate change, energy security and several other ills, appears to be a politician's approach to wrap bad news in a palatable wrapper, such as the fact that we are near – very near actually – the end of cheap, abundant oil.

    All I can say is that it was about time that something like this report was done that also the ordinary person can understand. Now the ordinary person must be able to get it and read it. We now need this publication sent to each and every household in this country so that everyone can read it. Downloading it is one way but not everyone has that capability.

    We all need to get geared up and onto the “war footing” that is being referred to in the report as regards to climate change, energy security and the rest. There are so many issues that fall under that heading and with an approach as with the Home Front during World War Two we might, just about, be able to tackle a fair number of those.

    Waste is one of those: Waste is such a big issue and that is waste as in waste – things thrown out, including food – to waste of energy, etc. We are throwing out tons and tons of food every day, much of it before it even gets to you and me. Then there is the food that households throw out, as well as restaurants, the kitchens of institutions, including the Houses of Parliament. While, in the days of World War Two that food waste was fed to thousands of pigs – not, not flying ones – nowadays that is no longer permitted.

    During the days of World War Two things also were still repairable and there were people who could fix things, professionals as well as amateurs, and wireless sets, shoes and boots, etc. all were fixed by the people themselves or by the menders for this or that product. Today we lack the skills to do that and, and that is most important, the possibility to do so.

    Most products today can no longer be repaired. They have been designed in that way so that no one, not even a mechanic, can open them to fix them, and as long as those conditions remain it just is nigh impossible to make things last, as they are designed not to. Only a change in approach can alter that.

    What the report's author(s), however, forget to mention is that many people during World War II resented the rationing, the “utility” clothes, etc. and while most lived with it, so to speak, others used every measure possible to circumvent them. Spivs and smugglers did a roaring trade in some areas.

    As far as the changes that we are facing now are concerned, and especially the serious pollution of our Planet, the exploitation of finite resources and, last but not least, the changing climate and energy security we must change our ways and we must do that yesterday.

    With cheap, abundant oil nearing its end our way of life as we know it is going to change whether we like it or not. Cuban can and must be seen as an example and the war time experiences of fuel rationing also.

    Heating will be a problem for many, if not most, as the majority of us in Britain have to rely on gas for our central heating system and on electricity to run the heating pumps, or even heat electric. Others who rely on heating oil for fuel their furnaces are probably worst of still. Wood is only used by a minority for heating and in some areas it is not permitted to burn any fuels that would smoke, such as wood, coal or even wood pellets. However, this will have to change.

    What will also be an obstacle in implementing the New Home Front ideas is the fact that far too many people live, mentally, in an “entitlement society” believing, falsely, but nevertheless, that they are entitled to fuel for their cars, etc. and I can see the fuel thefts that are happening already and other thefts increasing.

    The carrot and stick approach indicated in this report, and it seems to be more stick than carrot, where fines for waste and taxes are mentioned and suggestions that having a huge TV could be considered anti-social behavior is also quite obvious. I must say that I have seen this coming for along time. Never is a proper carrot being offered though.

    Why are the British government and politicians in the country not prepared to pay people for recyclables, such as tin cans, bottles (plastic and especially glass), glass jars, and such? Other countries do it and it works very well indeed there.

    This report, like so many other writings as regards to climate change, peak oil, etc. has already, within a day or so after its launch, attracted deniers and derogative comments. But what these people just don't want to see and understand is that the “business as usual” model of doing things can no longer (be allowed to) continue and they use all means to fight against the very notion of having to change and make changes. Nor can carbon credits and carbon trading get us anywhere.

    The path outlined in “The New Home Front” may just about get us somewhere and the time for transition to this new path is now. There is a way to be won.

    The report, “The New Home Front”, or shall we call it a booklet, should be sent, and I am serious here, to each and every household in Britain and goes hand in hand with the “Make Do & Mend” booklet that was produced and published by the John Lewis Partnership in 2009. This booklet could also do with a distribution to all households in the country.

    We must get back to a semblance of the life that was the wartime years in Britain and America and people must learn the necessary skills to do all the things that will be needed. “The New Home Front” booklet will give some food for thought and the John Lewis' booklet would give them ideas as to whet to do and how. There is a war to be fought and won.

    © 2011

Post Title

→

The New Home Front – Book Review


Post URL

→

https://national-grid-news.blogspot.com/2011/01/new-home-front-book-review.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Are aluminum (aluminium) water bottles safe?

    by Michael Smith (Veshengro)

    “Are aluminum water bottles safe?” is a rather frequent search term that is linked to the GREEN (LIVING) REVIEW and therefore I thought it might be good it I would explain here a little as to aluminum and safety.

    Aluminum, aka aluminium in Europe, is not food safe – it took them a long while to find that one out – and therefore all aluminum bottles (and cans) will (have to) be lined with a coating which, in most cases, contains bisphenol A (BPA), which is a raster nasty substance in that it is a hormone disruptor and thus referred to as a gender bender.

    SIGG water bottles, now, are, so they claimed, lined with a BPA-free liner but then Gaiam claimed that theirs was BPA-free and it then was found to be leaching more of the chemical into the water than any of those that were known to contain BPA. So, as far as I am concerned only stainless steel or glass bottles for me, and maybe, though that is then plastic again, BPA-free polycarbonate bottles like “We Want Tap” bottle.

    If, and that question was also raised in some of the search engine inquiries, we are talking about the old military canteens made from aluminum my advise would be not to use them in any way. They do not have liners and thus aluminum will leach into the drink, and more so if it is not just water but anything acidic.

    Aluminum is a “heavy metal” and not very good at all for you health and thus let me state that aluminum water bottles are not safe to use, and as far as I am concerned, not even with just plain water. Therefore avoid aluminum bottles, even if they are claimed to have a BPA-free liner.

    Stainless steel bottles, and those of glass, are basically the only ones that are safe safe to use, as are those made of plastics that do not contain BPA.

    If you want an unbreakable light water bottle then, as far as green goes, stainless steel is the best choice, as plastic is not really a good environmentally friendly choice. Stainless steel – as well as glass – can be recycled nigh indefinitely; not something that can be done with plastic, or whatever kind.

    To sum it up, once again, do not use aluminum bottles, especially not if they are not lined and are “pure” aluminum, as the military canteens were, for instance, and even be careful with lined aluminum bottles.

    © 2011

Post Title

→

Are aluminum (aluminium) water bottles safe?


Post URL

→

https://national-grid-news.blogspot.com/2011/01/are-aluminum-aluminium-water-bottles.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Mervyn King says problems ahead for many years

    by Michael Smith (Veshengro)

    The governor of the Bank of England, in a statement on Tuesday, January 25, 2011, indicated that he believes that things will get worse before they will get better and that people will face the worst fall in the standard of living since the 1920s.

    He gave warning that inflation would rise to "uncomfortably high" levels this year – peaking at "between 4 per cent and 5 per cent" before "falling back" next year. Mr King also said that unless there was pay restraint, interest rates would quickly be raised.

    Households are facing the most dramatic squeeze in living standards since the 1920s, Mervyn King said, as he reacted to the shock disclosure that the economy was shrinking again.

    Families will see their disposable income eaten up as they “pay the inevitable price” for the financial crisis, Mervyn King warned and with wages failing to keep pace with rising inflation, workers’ take-home pay will end the year worth the same as in 2005 – the most prolonged fall in living standards for more than 80 years, so the chief of the Bank of England reckons.

    There are also serious fears that the country is poised to slip back into recession, defined as two successive quarters of negative growth. Economists said the situation was “an absolute disaster”.

    Since when the country has ever gotten out of the Great Recession is something the proof of which I would first like to see. It is all more than relevant and things are going to get worse, especially with the more-or-less inevitable rise in costs of motor fuel such s gasoline and diesel, with the rates in January 2011 being that high that is costs fifty pounds and more to fill up the tank of even a small family car. That makes it more expensive than flying from London to, say, Stuttgart and back.

    Disposable household income has been hit by sharp increases in the cost of food, fuel and tax, coupled with restricted wage rises for most workers. Last year, take-home pay fell by about 12 per cent, official figures showed, and the trend was expected to continue in 2011.

    The governor warned that the Bank “neither can, nor should try to, prevent the squeeze in living standards”.

    In other words, folk, we are on our own and the ones that caused the dilemma siting pretty, the bankers and previous British government.

    While the Con-Lib coalition government is being forced to bring in the serious austerity measures the situation is not of their making. It was the previous government, the Labor administrations of Blair and Brown, that did not curb the excesses of the banks and then plundered the Treasury, literally, to bail out the banks.

    The only thing the current Chancellor of the Exchequer inherited from his predecessor was a note that said “Good luck! There is no money left” and not it is that party that blames it all on the new government.

    Whatever the case, we are in trouble in, in real truth, the country is bankrupt. But things are not going to get better in a hurry either – pardon me for being the harbinger of bad news.

    The truth is that, if predictions of the oil prices are going to be true, things are going to get a great deal worse. How are people going to commute when gas and diesel are hitting the £15 mark or more? And, according to some think-tanks this could happen in the next couple of years.

    The recently launched report “The New Home Front” has a couple of answers and some serious food for thought on that level and we'd all do well to acquaint ourselves with it and its findings.

    © 2011

Post Title

→

Mervyn King says problems ahead for many years


Post URL

→

https://national-grid-news.blogspot.com/2011/01/mervyn-king-says-problems-ahead-for.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

The best climbing movie never made has to be ?

    Previous award winning Hot Aches films include the electrifying Dave Macleod epic-E11.

    Having recently enjoyed seeing five Hot Aches climbing movies in quick succession,I was well primed for the keenly anticipated account of Robin Smith and Jimmy Marshall's early sixties historic tour de force on the Ben- re-enacted by Dave Macleod and Andy Turner- in The Pinnacle  See Review. Unlike the earlier films which were essentially structured around the activities of many of the UK's leading rock jocks-The Pinnacle was something of a creative departure in that it explored events half a century removed from the jaw dropping gymnastics on display from young climbers like James Pearson, the aforementioned Dave Macleod,Hazel Findlay and James McHaffie- strutting their stuff in films like Committed (1 and 2) and Monkey see-Monkey Do.
    Now Hot Aches El Supremo, Paul Diffley is calling on the UK climbing community to come forward with their suggestions for subjects and climbing events which would lend themselves to other Pinnacle style historic recreations.
    From the top of my head...What about Colin Kirkus's death defying solo on Craig Lloer in North Wales ( See Footless Crow August 2010.) or John Streetly's Bloody Slab epic on Cloggy where on the first ascent of this classic extreme, he was forced to untie- because no one could follow him- and solo to the top of the 600' cliff in the rain !
    Now you've got the gist of what it's about, feel free to head over to the Hot Aches blog site and put forward your suggestions.

Post Title

→

The best climbing movie never made has to be ?


Post URL

→

https://national-grid-news.blogspot.com/2011/01/best-climbing-movie-never-made-has-to.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Celebrities gather for Lakeland forestry sell off protest

    Cumbrian writer and general all round clever clogs-Melvyn Bragg.Photo Telegraph

    CELEBRITIES and leading local figures are backing a campaign to protest against the possible selling-off of publicly-owned forests in the Lake District.

    Hundreds of people in the district - together with high profile public figures - have banded together urging the Government to think again about it’s possible proposal to privatise Forestry Commission land.

    On Sunday a protest is being held in Grizedale Forest opposing the prospective plans- which were branded by Cumbrian-born Lord Bragg as ‘political vandalism’.

    Hundreds of people are expected at the rally, which has been organised by newly-founded group Save Lakeland Forests. It will be headed up by Lord Clark of Windermere and Eric Robson who want locals to act now or risk losing the forests ‘forever’.

    It is feared 39 forests would be affected, including Grizedale and Whinlatter, which bring in £20 million a year between them.

    Lord Bragg, the writer and broadcaster, told The Gazette: “I have not as yet signed (a petition) but would do so like a shot. We need more of the Lake District in public hands. Not less. It is an outrageous attack on our Heritage. An act of political vandalism. And they must be stopped.”

    In the past two weeks fear has been mounting that privatisation of the public estates by Department for Environment, Food and Rural Affairs (Defra) could curb public access and leave wildlife habitats unprotected.

    Currently, the Forestry Commision has been told to sell-off 15 per cent of its land but a consultation is expected to be launched today (Thursday) by DEFRA, which will look into how to sell-off the remaining 85 per cent of the Forestry Commission estate - which is estimated to be worth £80 million in Cumbria and north Lancashire.

    Lord Clark, former Chairman of the Forestry Commission and the chair of the All Party Group on Forestry in Parliament, said a new Public Bodies Bill - currently at the Committee Stage in the House of Lords - that will give the Environment Secretary Caroline Spelman permission to transfer ownership of all the state-owned land.

    Lord Clark said: “The response has been very encouraging and local people have been very supportive.If we don’t stand up now and show how much these wonderful green spaces mean to us we risk losing them forever.”

    Eric Robson, chairman of Cumbria Tourism and the Wainwright Society, said: “Selling off the public forests in the Lake District would be a disaster for tourism. Whatever ministers try to tell us, they cannot guarantee the same level of public access to these forests if they are sold off or the same high standards of environmental protection. Trying to suggest otherwise is simply misleading.”

    “We're being told that these sales will encourage a radical new approach to forestry management and will embrace the concept of localism. In fact, this is a sale being driven by Treasury policy aimed at maximising the returns from the Forestry Commission sale.

    “The fear is that rules on access and environmental protection will be waived or, at best, lightly applied to encourage the private sector to offer the best price. This could lead to a return to mono-culture plantings and severely restricted access for groups such as walkers, mountain bikers and horse riders.”

    Satterthwaite resident Paul Townsend, founder of Save Lakeland Forests, said: “We’ve been delighted by the amount of support we’ve been getting. There have been many messages of support and offers to help the campaign. It shows just how much the Lake District’s forests and woodlands mean to people – not just those who live here but many people across the whole country.

    “It’s important for people to come along and show their support on Sunday. It’ll be a great day out and a chance for us all to play our part in putting a stop to the Government’s plans to sell off our forests.”

    Tim Farron, MP for Westmorland and Lonsdale, said he would also be supporting the cause. He said: “I am not convinced that the value which DEFRA will get out of the sale of the forest will be outweighed by the cost to the public in terms of biodiversity and public access.”

    He also encouraged locals to sign the national petition organised by 38 degrees and Save England’s Forests - which has attracted signatories including Bill Bryson, Richard Briers, Annie Lennox and Dame Judi Dench.

    The rally will take place on the meadow next to the main car park at Grizedale near Hawkshead at 1pm on Sunday, January 30.

    Westmorland Gazette

Post Title

→

Celebrities gather for Lakeland forestry sell off protest


Post URL

→

https://national-grid-news.blogspot.com/2011/01/celebrities-gather-for-lakeland.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Sea Shepherd's 'Steve Irwin' homes in on Japanese whalers

    Japanese Whaler-Nisshin Maru: Photo Sea Shepherd

    Position: 70 Degrees  45 Minutes South
    171 Degrees 45 Minutes West

    Vessels Involved:  Japanese whalers - The Nisshin Maru, Yushin Maru No. 1 and Yushin Maru No. 2
     
    Sea Shepherd Conservation Society - The Steve Irwin:En route - The Bob Barker and the Yushin Maru No. 3

    After a 26-day pursuit covering over 4,000 miles, the Steve Irwin caught up with the Nisshin Maru at 1800 hours on January 25th, 2011 AEST.

    “We finally have this serial killing death ship where we want them, and from here on in, we intend to ride their ass until the end of the whaling season,” said Captain Paul Watson from onboard the Steve Irwin. “This whaling fleet belongs to us now – lock, stock, and smoking harpoon gun.”

    The Sea Shepherd Conservation Society ships the Steve Irwin, Bob Barker, and Gojira originally found the Japanese whaling fleet on December 31st, 2010 before the whalers had an opportunity to kill a single whale. Unfortunately, two of the harpoon vessels blocked the approach to the Nisshin Maru and the factory ship was able to flee with the faster harpoon vessels tailing the two larger Sea Shepherd ships to relay Sea Shepherd movements to the fleeing Nisshin Maru. The Gojira was prevented from immediately pursuing the Nisshin Maru due to risky ice conditions.

    The Gojira shot ahead of the Steve Irwin and the Bob Barker as the Nisshin Maru fled westward. On January 10th, the Gojira encountered the refueling and supply ship the Sun Laurel. On January 12th, the Bob Barker and the Steve Irwin caught up with the tanker and began to tail the Korean-owned vessel allowing the Gojira to continue westward in pursuit of the Nisshin Maru.

    The Sun Laurel headed north and east to put as much distance between the factory ship and themselves as they could. The Sea Shepherd ships followed knowing it was essential to cut off the supplies to the whaling fleet. Two of the three harpoon vessels followed and for 23 days we had confirmation that these two vessels had not taken a single whale.

    With the Sun Laurel heading east and getting closer to Chile than New Zealand, Captain Watson seized an opportunity to break away and lose the tail, doing so on January 18th.  The Bob Barker continued to follow the Sun Laurel with one harpoon vessel continuing to follow the Bob Barker. The other harpoon vessel, having lost the Steve Irwin, left to rejoin the Nisshin
    The Gojira was following the progress of the Nisshin Maru by launching weather balloons equipped with remote cameras and radar detectors. Unfortunately, the Gojira developed a problem with their fuel pumps and Captain Locky MacLean elected to return to Hobart to replace the pumps. This decision was kept confidential in order to keep the Nisshin Maru on the run until the Steve Irwin could close in.

    On January 23rd, Captain Watson made a risky decision to call off the Bob Barker from continuing the pursuit of the Sun Laurel. His concern was that the Nisshin Maru with two harpoon vessels could begin whaling operations in the Ross Sea within days.

    The Bob Barker was instructed to head due south as a decoy to lead the Yushin Maru along while the Steve Irwin entered the Ross Sea.

    And today after a 26-day pursuit, the Nisshin Maru has finally been caught and the Steve Irwin is on its tail. The Bob Barker some 300 miles away has been instructed to join the Steve Irwin.

    Unfortunately, the Japanese whaling fleet appears to have just begun their illegal whaling operations. There is a whale presently being butchered on the deck. Sea Shepherd’s objective now is to make sure that whale is the last one taken this season.

    The whaling fleet has been caught in an ice bay in the Ross Sea and is fleeing eastward into thick ice. The Steve Irwin intends to follow.        

    There is no doubt that this season will be a financial disaster for the Japanese whaling fleet.

    “We are well on our way to economically sinking this whaling fleet,” said Captain Watson. “We will now chase them through the frozen gates of hell if need be, but we will stop their illegal whaling operations…I am confident of that!”

    Sea Shepherd

Post Title

→

Sea Shepherd's 'Steve Irwin' homes in on Japanese whalers


Post URL

→

https://national-grid-news.blogspot.com/2011/01/sea-shepherd-irwin-homes-in-on-japanese.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Supermarkets misleading consumers on the labeling of fish

    by Michael Smith (Veshengro)

    ClientEarth, the environmental law organization, says that major retailers in the UK are misleading customers over the labeling of fish.

    The organization inspected the labeling by major supermarkets including Tesco, Asda, The Co-operative, Lidl, Marks & Spencer, Sainsbury's, and Waitrose, and in their subsequent report, they say that labels, such as 'sustainably sourced'; 'protects the marine environment'; and 'responsibly farmed' were misleading or unverified on 32 products out of 100 examined.

    'Dolphin friendly' labels featured on tinned tuna they say can be misleading as there is no mention of the harmful effects the tuna fishing method used may have on other threatened species such as turtles and sharks.

    ClientEarth CEO, James Thornton, said: "It would be shocking to find out that the free-range chicken you bought was actually battery farmed.

    "Discovering the fish you're eating, which is labeled as responsible or environmentally friendly, actually led to the deaths of threatened species also leaves a bad taste in the mouth.

    "Consumers need to be able to trust labels but in reality claims such as 'sustainably sourced' or 'responsibly farmed' are often misleading.

    "We would like all supermarkets that have the misleading claims on the products we've identified to remove them as soon as possible or to prove them with evidence."

    ClientEarth is calling for EU regulation for fish labeling and for uniform standards on sustainability claims.

    They say that while many supermarkets are taking measures to ensure that their fish is well caught, and farmed, they apply different criteria in their decision-making, which makes choosing truly sustainable fish products difficult for consumers.

    This report adds to the topicality of sustainable fishing, highlighted this week in the TV series Fish Fight on Channel 4, fronted by celebrity chef Hugh Fearnley-Whittingstall.

    ClientEarth, the Marine Conservation Society and Greenpeace are among the organizations backing the chef's campaign. The campaign seeks to highlight the issues of sustainable fishing, in particular the issue of discards, and to influence the reform of the EU's Common Fisheries Policy.

    Sainsbury's recently released a statement that all their tuna is already line-caught and any that so far is not, in the ingredients of this or that product, will be so in the very near future. Let us truly hope so.

    © 2011

Post Title

→

Supermarkets misleading consumers on the labeling of fish


Post URL

→

https://national-grid-news.blogspot.com/2011/01/supermarkets-misleading-consumers-on.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

A typical family consumes 26 gallons of bottled water a year

    by Michael Smith (Veshengro)

    A typical American family consumes 26 gallons, that is about 100 liters, of bottled water a year. That's a lot of water and a lot of, primarily, plastic containers.

    How much does that make for the USA as a who and then add to that the rest of the world, especially the developed world where there seem to be the greatest fools that think that they have to have bottled water. Some even have been so convinced that bottled water is better for them and healthier.

    It is not just the plastic bottles, far too many of which never make it to the recycling centers and -plants, but the water itself that concerns me. That is water that is being taken out of the natural cycle and therefore does not go to feed our watercourses and does not fill our reservoirs.

    In addition it is a well-known, well-known to those of us in the know, that a great deal of bottled water is not spring water at all but, in fact, is from public sources, as Pepsi has had to admit, which means it comes from the standard mains water supply of our municipalities.

    And you pay how much a bottle for something that you can get at your faucet at home, at your kitchen tap, for free?

    May I suggest that we all think about it what we are doing in this regard, and that is aside from just the environmental impact that our bottled water consumptions is having. How much does this habit cost? Way too much for something that I can get for nigh free at home or at any mains tap.

    © 2011

Post Title

→

A typical family consumes 26 gallons of bottled water a year


Post URL

→

https://national-grid-news.blogspot.com/2011/01/typical-family-consumes-26-gallons-of.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Enecsys solar PV micro-inverter becomes the world’s first without electrolytic capacitors to gain UL certification

    Cambridge, UK, January 28, 2011: Enecsys Limited, a solar PV micro-inverter company, has announced UL certification for its products. The patented design of the Enecsys Micro-inverter uses a rugged topology that eliminates electrolytic capacitors and opto-couplers, components that limit operating life and compromise reliability. Enecsys 240W micro-inverters are the first micro-inverters without electrolytic capacitors to achieve UL certification. The same product is also certified for use in Europe, making Enecsys is the first company to introduce a truly global solar PV micro-inverter. The inverter has an operating life expectancy of greater than 25 years, matching that of solar PV modules. This transforms the economic model of solar PV systems through greatly enhanced system reliability, energy harvest, ease of installation and improved system safety.

    Solar PV systems based on micro-inverters harvest from 5 to 20% more energy over the life of the system, compared to traditional string inverter based systems. In a micro-inverter based system Maximum Power Point Tracking (MPPT) is performed on each solar module and thus maximizing energy harvest even under partial shading, module mismatch or obstructions from leaves or debris. Systems are simpler to design and install and are safer because the high-voltage DC present in conventional solar PV installations is not present. No string inverter is needed because the DC output of each solar module is converted to AC using a micro-inverter mounted on the rack behind each module. This eliminates the central point-of-failure and the primary failure mechanism found in traditional inverters systems and micro inverters currently available in the market.

    The reliability of Enecsys Micro-inverters has been verified using HALT, HASS and accelerated life tests to IEC61215, the same methodology used to test solar PV modules. The micro-inverters maintain full performance from -40 degrees C to +85 degrees C, ensuring efficient operation in real-world conditions. The Enecsys Wireless Monitoring System provides real time performance information for each solar module in order to maintain the high performance of the solar PV system throughout the operating lifetime.

    The Enecsys Micro-inverter is designed to operate in both North American (60Hz) and European (50Hz) electricity grid systems. The micro-inverters are safety and EMC evaluated to EN 62109, UL1741, TUV and CE. Country-specific requirements, including VDE V 0126-1: 2006 compliance, are achieved through the use of specific Enecsys installation products.

    Enecsys Limited, develops, manufacturers, and markets world leading, highly reliable grid-connected solar micro-inverters and monitoring systems that offer an outstanding value proposition for solar PV systems. The micro-inverter converts and controls the DC power from each solar module into clean AC power for supply to the electricity grid. The advantages of Enecsys solar micro-inverters include: maximized energy harvest, improved safety, increased lifetime and reliability, enhanced performance monitoring, and simplified PV array design and installation. The monitoring system tracks, in real-time, the performance of each PV module transmits the information through a robust built-in wireless communication system that connects to the Internet via a gateway. Headquartered in Cambridge, UK, the company also has a sales and support office in Frankfurt, Germany. For more information, please visit http://www.enecsys.com.

    Source: TechnoPR

    This press release is presented without editing for your information only.

    Full Disclosure Statement: The GREEN (LIVING) REVIEW received no compensation for any component of this article.

Post Title

→

Enecsys solar PV micro-inverter becomes the world’s first without electrolytic capacitors to gain UL certification


Post URL

→

https://national-grid-news.blogspot.com/2011/01/enecsys-solar-pv-micro-inverter-becomes.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

IG: Update to FSCS Post.

    Some Sharecast news throws a bit more light onto the FSCS interim levy that I referred to in a previous post (IG Group: FSCS sticks the boot in!) and its potential impact to IG. The item suggests that IG did have £1m provisioned but will have had little or no visibility of the levy (chalk one to the regulatory bodies then). 
    Seems a bit short-sighted that to protect retail investors against potential future business failures you can issue surprise invoices with 30 days payment terms. 
    I would have expected some kind of prior consultation as to the direction in which the FSCS strategy and modelling was going but apparently not. 
    Alternatively some form of stress test on a company's ability to pay within 30 days, or even a contributory plan, seems essential unless the FSCS has some prescient knowledge of a company that is going to fail in 31 days time!
    Digging a little further on Keydata, it seems that the company failed over 2 years ago and many put the blame firmly on the door of the FSA for inadequately policing the situation. Even more confusing was the FSCS decision "not" to compensate Keydata investors??? (as seen in dailymail.co.uk: Payout bombshell for Keydata victims).

    Taking some learning from the Keydata situation, and the lack of policing, shouldn't there also be some form of stress testing or minimum capital reserves for any company in the financial services sector (wasn't this the straw that finally brought about the credit crunch?). And, wouldn't it be ironic if the surprise levy amount and/or payment terms ultimately resulted in the failure of a business.
    Seems to me that the regulatory bodies themselves need a bit of regulating or training in communication and planning!

    Back to the Sharecast release: IG Group latest to receive FSA compensation bill, there is no question that IG has the resources to make the payment but, the writer suggests that the "unforeseen" nature of the regulatory expense will probably put paid to rumours of a special dividend and may result in a slightly more conservative management of working capital and capital investment.
    This combination of factors has resulted in some analysts at Panmure Gordon paring back profit forecasts for 2011 to £166.4m, -£4.4m (-2%).

    Frustrating for an investor though. Having seen the aftermath of the lack of regulation there is an obvious need for more protection (and this levy is part of the savings compensation scheme) but it doesn't seem that there is much of a coherent plan or that it will rein in banking pay and bonuses!

Post Title

→

IG: Update to FSCS Post.


Post URL

→

https://national-grid-news.blogspot.com/2011/01/ig-update-to-fscs-post.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Crows and magpies lined up for experimental cull

    Magpies and crows will be trapped and killed in the first cull of its kind to protect songbirds.
    The move could pave the way for birds of prey, including buzzards and sparrowhawks, to be culled in the same way.
    Songbirds such as the yellowhammer, corn bunting and skylark - whose songs are for many a treasured part of the countryside - have been in decline for decades. However, the killing has provoked anger from other bird campaigners who believe other factors are responsible for the population drop.
    The Royal Society for the Protection of Birds says it is the removal of their traditional habitat and food sources that has done the damage.
    Another group, Songbird Survival, backs the cull and says despite billions of pounds being paid to farmers to protect bird habitats and numbers, they are still dropping.
    According to figures published last week by the Department for Environment, Food and Rural Affairs there was a fall in farmland bird numbers of 7 per cent between 2003 and 2008.
    Populations of the main predators of songbirds have doubled in the past 30 years. Sparrowhawks, which kill an estimated 50 million songbirds a year, have increased by 152 per cent to 40,100 breeding pairs. Magpies, which raid nests, steal eggs and kill chicks, have increased by 98 per cent.
    Nick Forde, a trustee of Songbird Survival who spoke to the Guardian newspaper, criticised the RSPB for defending its interests.
    He said: “How many old ladies would want to leave their money to an organisation that goes round killing birds? There are a lot of vested interests who resist the idea of managing wildlife but if we don't we are going to lose our biodiversity.”
    An RSPB spokesman said: “There are dark forces at work here. There is a lot of rhetoric going on about all our songbirds being eaten by nasty predators.
    We think these declines are driven by changing farming practices.”
    The trial cull of crows and magpies will be carried out in sites in Hampshire, Warwickshire, Leicestershire, Herefordshire or the Scottish Borders.
    The Telegraph

Post Title

→

Crows and magpies lined up for experimental cull


Post URL

→

https://national-grid-news.blogspot.com/2011/01/crows-and-magpies-lined-up-for.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Dow Jones at 29 month high!

    Overnight news is that the Dow is now sitting at a 29 month high as it briefly breached the 12,000 mark before finishing at 11985.44, +8.25 (0.07%).

    Lots of facets to this not least of which is the affirmation that the Federal Reserve will maintain its $600bn bond buying programme as it seeks to maintain the recovery.
    More interesting for me was the overnight State of the Union address from Barack Obama in which he stated a willingness to review and lower the top rate of corporation tax for the first time in 25 years. The caveat being as long as it doesn't add to the deficit but, public spending cuts totalling $400bn could provide the leeway. At last some foresight to distribute some of the assistance beyond the banking community.

    Further good news for the US came in the form of new home sales surging 18% in the last month and the International Monetary Fund increasing its growth forecast for the region to 3%, double the figure for the Eurozone.

    What can I take from this news well it does suggest that the US is recovering faster and that Industrials in particular are starting to pick up with bellwethers like GE and United Technologies delivering promising trading statements for the fourth quarter:

    GE @ $19.92, -0.06 (-0.3%), sales revenue up 1% to $41.38bn (consensus was $39.9bn) but net income rose 50% to $4.5bn from $3bn previously (msnbc.msn.com: GE posts better-than-expected earnings).

    United Technologies @  $81.41, -0.32 (-0.39%), also beat analysts expectations with sales revenues up to $14.86bn from $13.98bn last year. Net income also rose to $1.2bn from $1.07bn previously (online.wsj.com: United Technologies 4Q Profit Up 12%; Results Beat Views).

    Not all good news though, as Boeing published its mixed bag with earnings dipping 8% in the fourth quarter and the prospect that, despite an increase of 152%, full year earnings will be below analysts estimates (google.com: Boeing fourth-quarter profits slump on lower sales) driven primarily by the much catalogued problems with the 787 Dreamliner.
    And, with the first deliveries of the new aircraft pushed back a further 6 months into the last quarter of 2011(independent.co.uk/: dreamliner delivery put back to the autumn) I would expect it to impact next years earnings too.
    On the plus side, margins are up to 7.7% (3.1%), orders and production rates are increasing, and with a possible first delivery in sight for the ground breaking 787, Boeing may just be entering a new growth phase.

    Boeing @ $70.02, -2.22 (-3.07%)

    Previously, I have also posted the view that the FTSE has tended to follow the fortunes of the DJIA very closely, which you can see from the chart below (blue is DJIA). So, despite the seemingly volatile times created by the Bank of England's Monetary Policy (and the Coalition Government addressing the financial disaster that was overseen by the same BoE Governor and the previous Government) it could be that the FTSE will still benefit from any upside in the DJIA. I would caveat this with the view that it will primarily be the large blue chips with global earnings exposure that will drive the FTSE though.
    And, as the charts are historical, it has to be said that this might not continue. Still sounds promising on a long term basis though.
    DJIA v. FTSE 100



    thisismoney.co.uk: Dow Jones storms over 12,000 mark

    msnbc.msn.com: GE posts better-than-expected earnings

    online.wsj.com: United Technologies 4Q Profit Up 12%; Results Beat Views

    google.com: Boeing fourth-quarter profits slump on lower sales 

    independent.co.uk/: dreamliner delivery put back to the autumn 

    Charts courtesy of Digitallook. 

Post Title

→

Dow Jones at 29 month high!


Post URL

→

https://national-grid-news.blogspot.com/2011/01/dow-jones-at-29-month-high.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

IG Group: FSCS sticks the boot in!

    IG Group @ 457.5p, -13.1 (2.78%)

    Funny that when you are down everyone seems to want to stick the boot in and it seems like IG Group got it between the ribs yesterday.
    Its currently beyond my understanding as to the hows and (immediate) whys but the Financial Services Compensation Scheme has issued invoices for an interim levy, some of which are calls on IG Group for the sum of £4,052,000, payable within 30 days??
    Worst still is the statement (in IG's Financial Services Compensation Scheme announcement) that none of this £4m has been provided for in the accounts. Could they have known and should they have known?

    The announcement, which details the failure of Keydata Investment Services Ltd. as the principle driver for the interim levy (£326m in total), goes on to suggest that it is expected to affect UK regulated Fund Managers and Investment intermediaries. An article on the Citywire website (FSCS sets levy at £326m) has a bit more detail with advisors set to pick up the tab for £93m of the total.

    Unfortunately for IG, this follows closely on the back of the poorly received trading statement which declared an almost total writedown of the company's investment in Japan due to regulatory changes. These changes, relating to leverage levels, have effectively put a ceiling on IG's previous plans for growth in Japan (see earlier post:Has the Sun set on IG Index?).
    However, it does have to be said that £4m appears small against the backdrop of the £143m writedown or, more positively, against consensus pre-tax profit forecasts of £166m; or last years closing cash position of £678m (2009: £520m).

    The problem for IG Group is that it is a victim of its own success so, despite the 4+% dividend yield, and 45% margins, analysts still want growth. And, with Japan now being scaled back significantly as an operation, analysts are looking to the currently small US venture to provide that growth.

    I have enclosed links below:
    - to the IG Group's announcement published on the London Stock Exchange's Regulatory News Service; 
    - to a citywire article detailing a broader breakdown of the £326m; and
    - to the FSCS site's Levy Information page (which still doesn't mean very much to me).

    Link to London Stock Exchange: Financial Services Compensation Scheme announcement

    Link to citywire: FSCS sets levy at £326m

    Link to FSCS: Levy Information

Post Title

→

IG Group: FSCS sticks the boot in!


Post URL

→

https://national-grid-news.blogspot.com/2011/01/ig-group-fscs-sticks-boot-in.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

Rolls-Royce / BAE Systems: Britain reviews defence contract rules.

    Rolls-Royce @ 649.5p, +13 (2.04%)

    BAE Systems @ 355.6p, +4 (1.14%)

    Interesting to see both R-R and BAE Systems up today. BAE seemed to mirror the markets movement (dipping towards the latter part of the day), but R-R kept its momentum.

    There was no newsflow from either company but there was a general news release on Reuters (Link to Reuters: Britain reviews defence contract rules to cut cost) that the British Government is set to start an 18 month review of the defence contract rules as it seeks to cut spending by 8% over the next 4 years. The review will cover the "single supplier" contracts where only one supplier is invited to tender. Both R-R and BAE have been beneficiaries of this type of process in the past.
    The slightly negative connotations don't seem to have affected either company today though.

    Taking a slightly different tack to normal, the share price chart for R-R this year is looking interesting to me. And, although I am not really a Technical charting expert, I believe that the behaviours of investors do seem to concentrate at times and charts can be one of the most visible communicators of this. 
    As a result, I do find charts useful to understand the trend of a share price, particularly if I am unsure about buying or selling and any short term effect from the economy like, for example, talk of recession, austerity measures etc. which might affect the number of buyers in the short term but shouldn't have a significant impact on a company such as R-R in the longer term so, value will win out (one would hope).
    Charts can only plot the historical results of investors behaviours but some of these patterns can be very strong and hence have an element of predictability about them that can provide a convincing forecast. As ever, there are many more variables that could be taken into account such as trading volumes so these should be considered before making a decision based on historical information.

    At this point, I probably need to apologise to any Technical chartists out there (as I couldn't ever claim to be an expert) but looking at the chart for R-R, it does seem to be following a strong trading channel since the recent low point in 2008.

    There are a couple of aberrations to this which might negate it from a strict technical understanding, but I have drawn a couple of parallel lines on the chart to illustrate my viewpoint (and it is only my viewpoint). 
    Similarly, if I was to look at the full horizon on this chart, it is surprising how close the share price is to re-establishing the trend with that of its previous uptrend that ended at the beginning of 2008.
    It also struck me that drawing a line across the last 3 high points could possibly point to a concentration point coming as, if it was extended, it would eventually meet up with the lower of the 2 trend lines. To me this would suggest the views of buyers and sellers are coming together and there could be a breakout from that point. 

    Apart from being an investor in R-R, the main reason that this has caught my eye is that the trend has continued to be upwards despite the troubles of the last few months and on the 10th February Rolls-Royce is due to publish its final results (so where does that triangle point form?).

    Significantly, these will be also be the last results with Sir John Rose at the helm so it would be fitting if they were positive enough for the FTSE 100 to give him the farewell he deserves after 14 years in the role of Chief Executive and during a time in which he has overseen the transformation of the company into a respected global business, and a champion for British manufacturing worthy of the Rolls-Royce name.
    Fingers crossed!

    R-R share price chart with trend lines estimated.

     Link to Reuters: Britain reviews defence contract rules to cut cost 

    Chart courtesy of Digitallook.

Post Title

→

Rolls-Royce / BAE Systems: Britain reviews defence contract rules.


Post URL

→

https://national-grid-news.blogspot.com/2011/01/rolls-royce-bae-systems-britain-reviews.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection

s106 funding from Latham's Yard devt

Labels:



    Hackney says it has spent £150,000 upgrading the children's play facilities in Millfields.
    Really???



    FOI Question
    Could you please confirm how much s106 funding was secured as part of the Taylor Wimpey / George Wimpey development of Latham’s Yard site, Clapton, E5 9RP. Could you please confirm how this funding has been allocated and spent to date and how much is still to be spent.

    Answer
    There are three planning applications which match this description, so information about each one is provided below:
    a) Planning application 2001/1894 “Leeside and Middlesex Wharves, Latham's Yard A”.
    In total £1,009,000 was received in monetary Section 106 contributions with a further 'in-kind' contribution provided in the way of affordable housing. All funding has now been allocated.

    Below is an explanation of how the contributions were broken down under each 'head of term' (category) and how these contributions were allocated and spent as applicable:

    • £275,000 for Public Transportation Fund;
    • £364,000 for Bus Subsidy Fund;
    • £20,000 for Employment and Training –Jobs Brokerage;
    • £150,000 for upgrade of children’s play facilities in Millfields Recreation Ground;
    • £35,000 as an in-kind contribution for public art;
    • £200,000  for improvements to Southwold School and Harrington High School; and,
    • The in-kind affordable housing contributions provided for 214 units of affordable housing.

    b) Planning application 2006/2195 “Leeside and Middlesex Wharves, Latham's Yard A” enabled £351,967 to be negotiated in monetary contributions with a further in-kind contribution in the form of provision of a Doctor’s surgery.

    Below is an explanation of how the contributions were broken down under each 'head of term' and how these contributions were allocated and spent as applicable:.

    • £200,000  for employment and training initiatives (to be received); 
    • £151,967 for highways works  which have been implemented on Theydon Road and to the north side of Southwold Road (through s278 funding); and,
    • Provision of Doctor's Surgery (this has been provided).

    c) Planning Application 2009/0238 “Lathams Yard Blocks 5 and 10” enabled a total of £74,555.26 to be negotiated, with a further in-kind contribution in the form of affordable housing.

    Below is an explanation of how the contributions were broken down under each 'head of term' and how these contributions were allocated and spent as applicable:

    • £2,010.44 for open space;
    • £72,544.82 for libraries and education;
    • Affordable Housing – this included six four-bedroom socially rented units; and three one-bedroom and two two-bedroom intermediate units.
    Monetary contributions are yet to allocated to specific projects.

Post Title

→

s106 funding from Latham's Yard devt


Post URL

→

https://national-grid-news.blogspot.com/2011/01/s106-funding-from-latham-yard-devt.html


Visit National-grid-news for Daily Updated Wedding Dresses Collection
Subscribe to: Posts (Atom)

Popular Posts

My Blog List

Blog Archive