Archive | October, 2011

Separated at Birth?

17 Oct

Sir Robin

Mayor_sir_robin_wales

Johnny from the X-Factor

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Steve Jobs

6 Oct

I’m somewhat at a loss for words at the news of the death of Steve Jobs

Obviously I didn’t know him personally, never met him, but Steve Jobs probably had more impact on my adult working life than almost anyone else. The tools I use daily are almost all the result of his vision, his perfectionism, his drive.

There’s a quote from his 2005 Stanford address that should stand as a guide to us all in the time we have left to us:

“Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure — these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.”

Amazon Opens Fire in Tablet War

3 Oct

A new post by me on my employer’s blog about the Amazon Kindle Fire and its potential impact on the tablet market.

Enjoy!

 

Newham Council’s Mountain of Debt

3 Oct

People have expressed surprise that the mayor has proposed to borrow £40 million to lend on to West Ham United FC to part-finance their bid for the Olympic stadium. They ask how one of the poorest boroughs in London can afford to take on such debts.

What they obviously don’t realise is that Newham has already has massive debts. According to the draft statement of accounts for 2010/11, the council’s “total external borrowing at 31st March 2011 was £1,186 million.”?????? Against that, “the Council had investments of £303 million.”?????? Which leaves a net position of £883 million of debt.

That level of debt is truly shocking, but what is more alarming is the massive growth in those debts during the mayor’s reign.

As at 31st March 2002 Newham’s total external borrowing was £616 million. With investments of £91m that left a net debt of £525m.

Today’s total debt figure of £1,186 million represents an increase of 93%. Even taking the major increase in investments into account, the net debt position has increased by 69% over the past 9 years.

Although the council claims that the current debt is “well within [our] approved borrowing limit” it is a frighteningly large sum. According to the 2001 census (the most recent data on the council’s website) there are 91,822 households in Newham.

That means the council owes the equivalent of £12,916 per household.