In what many will see as a cynical move to deflect attention from the Tory party conference, Gordon Brown has today flown into Iraq.  It appears that he will be meeting the Iraqi Prime Minister and a string of other senior politicians in the country, to try and map out the way ahead for the region and UK involvement.

It has also been announced that Mr Brown is “thinking” about cutting the UK presence in the region still further, although whether this is one of his classic “double counting” ideas, i.e. just a repeat of his recent comments remains to be seen.  This will be Mr Brown’s first visit as Prime Minister and we can expect the usual barrage of friendly photographs, friendly interviews and good old back slapping, but what do the troops really think?

It will be interesting to see how his visit is received, among troops who have been out in Basra for some time.  Despite a number of high profile promises to review the situation, the UK presence is still relatively high.  Quite what will pan out over the next few weeks remains to be seen, but if Gordon Brown does call an election we can expect further promises of a reduction in the troops in Iraq, as he attempts to bring back a feel good factor to the UK voter.

Posted: October 2nd, 2007 under Finance.
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After a disasterous few weeks which saw the brand name of Northern Rock all but ruined, it now seems that we may be getting towards the end game.  After their much publicised Bank of England survival loan ballooned from £2 billion to a staggering £8 billion, it now seems that it is all a matter of finding a buyer for parts or the whole of the business.  Not much chance!

While there are still viable parts of the business, the whole situation is clouded somewhat by the fact the company are quoted on the stock market and have a legion of shareholders.  Unlike the olden days when deals could be agreed in a smoke filled room, any deals will require shareholder approval which could takes some time.  It seems that slowly but surely the Northern Rock business (once the darling of the mortgage sector) is slowly coming to an end.  Why would anyone pay for the business? How much is it actually worth? Is it not damaged goods?

The situation is getting worse by the day, and it would seem inevitable that the authorities will call a close some time soon.  As and when the business is placed into receivership or administration, an orderly transfer of parts of the business would seem inevitable - for a nominal fee.  The business which was once the flag bearer of the North of England is about to be no more.

While many have criticised the company’s business model, the facts are that without the credit crunch there would be no problems, and the Northern Rock would have been as steady as a…..well rock.

Posted: October 1st, 2007 under Finance.
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After a roller coaster last few weeks for the McLaren F1 team and Lewis Hamilton in  particular, it seems things may be on the up for at least one of the McLaren team drivers.  As Fernando Alonso continues to sulk in the corner, with speculation that he has not spoken to team manager Ron Dennis for over a month, rookie Lewis Hamilton  has stepped up to the plate.

After a mind blowing first few races which saw him push into a massive lead in the Drivers Championship, he was recently pegged back and a retirement in the last race saw his lead cut to two points over “team mate” Alonso.  Oh how the tables have turned, with Alonso forced to retire in this weekends rain lashed Japanese Grand Prix.  Not so Hamilton, who pushed on under the most difficult of conditions to take the chequed flag and put at least one hand on the Drivers Championship trophy. 

While the McLaren team have been removed from the constructors championship, due to alleged spying on the Ferrari team, this will surely see a smile of Ron Dennis’s face in what many are forecasting to be his last year as an active team manager.  Looking to take more of a back seat, Dennis has been the subject of a number of smear campaigns over recent weeks, with many believing that the sports ruling bodies want him out.

Lewis Hamilton has the chance to claim the drivers Championship in next weeks Chinese Grand Prix, and become the first rookie champion in the history of the sport.  A difficult and often hate filled F1 season may just be about to come to a fairytale ending…..lets hope so!

Posted: October 1st, 2007 under Finance.
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This week sees the latest Conservative Party conference in Blackpool, with all eyes on David “call me Dave” Cameron.  As the polls show Labour well ahead, and intense speculation about a snap election, it really is time for the Conservatives to stand up and be counted.  Will they pull together like Celtic huddle, or will they fall down like a pack of cards?

It seems as though the week has started off well with much talk about :-

• Increased protection from failing company pension schemes.
• The possible abolishment of inheritance tax - a tax set to hit more and more of us in the years to come. 
• The unravelling of many Gordon Brown promises.

It seems that the Tories may well have their house back in order, and a good showing at the party conference is vital to make up the gap in the polls - currently showing a seven percent lead in favour of Labour, although last week this went out to eleven percent.  While initially the Labour Party conference had been well received, much of the optimism has reduced after further consideration of Gordon Brown’s speech, and the fact that he seems to have side stepped so many issues.

This conference is a must win for “Dave” Cameron as he continues to scale the political ladder in search of that top post.  He is in danger of possibly being over shadowed by a number of his shadow cabinet with William Hague starting off the conference with a rousing speech, culminating in a calculated attack on Gordon Brown the man, and his use of spin doctors.  It also seems that his recent meeting with Lady Thatcher may be about to backfire!

It will be interesting to see what happens this week, and whether the Tories really can turn it around.  Will “Dave “ blow it, with Gordon Brown have the bottle to call a snap election? All will be revealed over the next seven days - watch this space.

Posted: October 1st, 2007 under Finance.
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