UK IX: This Economy Will Self-Destruct In...

[Neon Ignition]

If I were a billionaire I'd go to McDonald's over the overpriced rubbish they're usually willing to pay for. For what they spend on something like this:




I could probably buy a ticket to America, get a Double Cheese burger meal and an actual proper toy with change to spare

[Neon Ignition]

https://www.reuters.com/business/media-telecom/uks-cineworld-preparing-file-bankruptcy-wsj-2022-08-19/

Struggling to recover after the pandemic, Cineworld is about to file for bankruptcy. The chain cites the lack of big summer movie releases from July-November as the nail in the coffin and is expected to file both its US and UK chains. The chain is the world's second biggest cinema operator meaning a massive hole in the business may be about to open up.

https://www.theguardian.com/business/2022/aug/17/cineworld-shares-blockbusters-admissions-cinema-covid

The news has slashed their share value in half

An analyst has questioned Cineworld's reasoning as AMC Odeon, the world's largest operator, has reported its business has doubled following July's box office success


I'm going to take a wild, uninformed stab in the dark here but I feel like this will come down to a bit of a Toys R Us situation. Purely anecdotal but in the wider area around me all of the Cineworld's are in complex's that the company has built out of the larger cities and therefore owns and runs. By comparison all of the Odeon's I can think of are spaces that they either took over from past operators or were built as part of larger complex's other companies own. I could imagine then that Cineworld would not only have carried a bigger operating cost but also a larger debt burden as I seem to recall tales of AMC being quite aggressive pre-pandemic in terms of buying up smaller operators to in order to expand and compete against Odeon. If any of that is right then their entire business would be based on a business model that would be destroyed by the pandemic.

So yeah, in effect, why Toys R Us died and Smyths thrives.

[wakka]

If I were a billionaire I'd go to McDonald's over the overpriced rubbish they're usually willing to pay for. For what they spend on something like this:




I could probably buy a ticket to America, get a Double Cheese burger meal and an actual proper toy with change to spare

My guy if you were a billionaire you could have a chef in your house recreating McDonalds on demand.

[Cassius_Smoke]

I think it's because Cineworld cost more than a weeks wages. Can you imagine being 15 and taking a girl to cinema now?
You need to do an experian check first.

[Yakumo]

If I were a billionaire I'd go to McDonald's over the overpriced rubbish they're usually willing to pay for. For what they spend on something like this:




I could probably buy a ticket to America, get a Double Cheese burger meal and an actual proper toy with change to spare

I had one of those after 10 minutes on the throne before

[Anpanman]

I used to like our Cineworld, it was on an estate with not much of anything else, almost hidden away. We never bought the overpriced food and tat, that's probably where they make a lot of their profits from.
It was clean including the bogs and the staff were nice too. They used to have offers on a Sunday for a £1 a ticket.

[Neon Ignition]

https://www.theguardian.com/politics/2022/aug/19/revealed-liz-truss-supported-cuts-to-nhs-and-doctors-pay-in-thinktank-report

This is out lives now

Truss backed cutting the pay of Doctors and cuts on the NHS

https://www.theguardian.com/politics/2022/aug/19/labour-sets-out-plan-to-link-minimum-wage-to-cost-of-living

Labour is working on a plan to link Minimum Wage with Cost of Living

[teddymeow]

My guy if you were a billionaire you could have a chef in your house recreating McDonalds on demand.

He would be a French chef so I would only have "Royale with cheese".

[fishbowlhead]

https://www.theguardian.com/politics...inktank-report
This is out lives now

Truss backed cutting the pay of Doctors and cuts on the NHS

https://www.theguardian.com/politics/2022/aug/19/labour-sets-out-plan-to-link-minimum-wage-to-cost-of-living

Labour is working on a plan to link Minimum Wage with Cost of Living

£15 an hour min wage good luck with that, i mean you can try and squeeze that out of a small business once the insolvency company has picked over the bones this winter, after the energy companies of course.

There’s going to be so much unemployment when businesses start folding (which is already in effect) due to the energy prices we will be in a depression come January.

[Blobcat]

Despite not great pay, working in healthcare at least I'm still going to find work but atm there is a dire shortage of dental nurses, currently taking on several trainees with no experience on 2 day part time positions as we are so desparate.

Main dentist who I work with (3 days a week and he works at another practice the other 2) commented how one of his nurses just qualified but was on minimum wage and had to pay for their training (our work pays for training if you stay with the company for 3 years otherwise you have to pay it back somehow or they refund you 3 years later). She supposedly quit and found a place that payed 12 quid an hour and he was saying it's crazy how low she got paid.

I reminded him I had to take a pay cut (only slight) to be a trainee nurse on min wage at the time at another practice where I was expected to undertake and pay for my own training with no payback and I only hit £12 an hour end of last year at my current company after just over 5 years working there. It's a good place and they pay for my registration and indemnity insurance but my line of work is notoriously underpaid for what it is.

I'd love to get £15 an hour (which is possible with some private companies I believe but the main way to get more is to do locum work) but it's not likely to happen unless the boss has a huge change of heart (he recently agreed to pay my back for a course they refused to last year despite wanting me to complete it for years). I'd even be happy to get paid the same what I get a month but for 4 days a week rather than 5.

Everyone needs dentists but NHS dentistry has been in worse dire straits recently I don't know how it will survive in the future.

[Neon Ignition]

https://www.theguardian.com/politics/2022/aug/19/gove-backs-sunak-and-says-truss-taking-holiday-from-reality

Gove back Sunak.
Smart move from wormwood there, it's clear Sunak will lose but this is how he'll survive the ****show of the next two years to get back into a key role

[Anpanman]

It won't be in government though, the Connies aren't getting in, it's Labour's to lose.

[Cassius_Smoke]

Labour will lose though. It'd take such a seismic shift to go from the largest tory win since thatcher, to a Labour government. You'd need people and places that have never voted Labour before. The Tories have such a strangle hold on the media and the important constitutes that it's almost impossible now.
Not to mention the electoral committee now being controlled by the Tory party, even if Labour win, they can be kicked out for 'breach of the rules' by the tories.

[Anpanman]

We'll see, I think a lot of the voters up north who voted for them won't next time. If the Conservatives do get it I'd expect it will be a tiny majority.

[Neon Ignition]

The Tories have lost most of the North vote and were always on likely to, last GE was never a Johnson win it was a 'anything to shut up about Brexit' vote

Labour surges as Tory fears grow over Truss’s tax cut agenda | Liz Truss | The Guardian
Timely though