Monthly Archives: November 2008

Money talks but victory resounds

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election wave

We couldn’t possibly write a post today without acknowledging the monumentous occasion which has befallen the U.S. within the past 24 hours. Barack Obama has won the 44th presidential election. Its effects are resonating on British shores as the election wave is felt in seismic proportions; both Gordon Brown and David Cameron are already both attempting to piggyback the juggernaut that has been the Obama campaign by associating their respective values with the President elect.

However, wishing not to dwell too much on political matters, we’d like to focus on an area which gave the former senator a crucial upper-hand: namely his record fund-raising capability. With the most expensive White House race in history, the costs of the campaigns total in excess of $5 billion since January 2007.

Despite the financial crisis, Wall Street banks were responsible for a collective donation of $370 million, where Goldman & Sachs were the largest of the contributors – the investment bank’s employees and political action committee donated more than $5 million to this year’s campaigns.

Obama himself was able to establish a significant advantage by being the first presidential nominee to opt out of the public funding system that dates back to the aftermath of the Watergate scandal. Whilst McCain chose to receive public funds, Obama had no limit to the money he could raise thus enabling him to raise a total of $650 million to date.

Without bringing the integrity of these alternate funding processes into question, due praise is worthy for such a mammoth sum generated by Obama. His money-raising was so successful that he was able to afford to buy an unprecedented 30 minute slot on three television networks six days prior to the election. He was able to outspend his rival on T.V. advertising by a multiple of four.

The significance of this element must not be undervalued in terms of the pivotal victory fought and won by the first African-American presidential candidate. Whilst Obama the politician was able to mobilise an entire generation of young idealists and has earned the faith of his country for his progressive views and measured judgement, it seems that we should also pay our respects to Obama the businessman as well.

CMFL

Barack Obama: what does he mean for the UK?

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Remember Remember the 5th of November… This old poem refers to Guy Fawkes, who was caught in the cellars of the Houses of Parliament with several dozen barrels of gunpowder on 5th November 1605.
But now Remember Remember the 5th of November, the day when the first black man has won the American Presidential Election: Barack Obama will be the new President of the United States, the change has come. Finally.

But what does it mean for the Europe? What will his election mean for the UK? The positive reaction from all sides are unanimous as Barack Obama could be the man of the revival. The UK and US have always had a good relationship, and now it can be strengthened by renovate common values of liberty. Future President Obama is a true ally of Britain and Europe, he knows the importance of working together to come through these difficult economic times and build a safer and more secure society for the future. Whereas British and European citizens couldn’t vote but the expectation on him is immense. And all the world has followed with great estimationthe political campaign and the election, because its outcome is vital to our future.

There are many topics, from the climate change to the global economy, and the new approach of Barack Obama will change the current situation for better. The Bush era is over. Tonight fireworks will flash in the sky over London, rich of meaning and hope for all the City, the country and the world.

How to save money – Lesson 1

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Every penny counts, now more so than ever. So what better time for some handy saving tips? Look after the pennies and, well you know the rest…

Lunchtime eating:

1. Cheap Deals: Many restaurants have some kind of “early-bird” deal, normally around 4.30 – 6.30. You are obviously choosing from a limited menu but more often than not the selection is just the same as the normal menu with a little less choice.

2. Special Offer: look at toptable.co.uk and you’ll find special offers for every taste.

3. New times: If you simply must eat out then why not try going to a restaurant for lunch instead of dinner, the lunch set menus are normally far better value.

4. Drinks: ask for tap water and save money on pricey drinks. Or even better keep some squash at work and make it last for weeks.

5. DIY: Sick of buying the exact same ciabatta from the exact same Italian sandwich bar? Whether you make your packed lunch in the morning or buy the ingredients and make it at lunchtime, you will save an incremental fortune over the course of the months of your practical planning. How long can you make it last?

The latest news bites

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Good afternoon and welcome back. It never rains but it pours:

1. “Recession will hit UK hardest” – says the Guardian.co.uk -, economists predict slowdown will be sharper in Britain than in any other major European countries and Britain will suffer a deeper recession than any other mature EU economy. Consequence? The European Commission’s latest half-yearly forecast predicts UK unemployment will rise from 5.3% in 2007 to 7.1% in 2009 — which would bring the number out of work to about 2.25 million.”

2. “HBOS deal to save Lloyds £1.5bn,” writes BBCNews.com. “Lloyds has said that its acquisition of HBOS would save it at least £1.5bn a year, raising fears of heavy job losses from the merger. Both banks have also unveiled further write-downs on assets ravaged by the credit crunch, with HBOS hardest hit. The banks also detailed plans to raise up to £17bn as part of the government’s bank bail-out plan. Unions said that the banks should think about the human cost of the takeover and avoid compulsory redundancies.”

3. “Ryanair profits fall sharply,” reveals today’s Financial Times. “[Its] profits fell heavily in the first six months under pressure from the doubling of fuel costs, and the group forecast that it would be in loss during the second half of the year… The group, Europe’s largest low cost carrier, had only “limited visibility” of forward bookings, but from October to March would fall by between 15 and 20 per cent leading to losses in the third and fourth quarters.”

4. WorldNews explains, “Gordon Brown hinted at another emergency global interest cut yesterday amid warnings that UK unemployment is set to soar to almost 3million. The Prime Minister promised ‘co-ordinated action’ across the world as pressure grew on the Bank of England to slash the cost of borrowing by as much as 1 per cent this week.” We shall see.