Sunday, 28 November 2010
David Cameraman cheerily announces it will be worth every penny of £2m to find out just how happy we are as a nation, while K&C Top Tories believe the answer to happiness is a Routemaster bus. However much did that cost? There can never have been a week when the great divide between the 'rich but utterly thick' and the rest of the population was underlined so dramatically.
The bright-eyed passionate students interviewed on tv showed miles more intelligence and integrity (not counting the few intent on criminal damage)than this yellow Tory, outed as the worst kind of liar and now cheerfully willing to be used as the government's human shield for their worst atrocities.
Cameron said during the election 'Time for a change'. Well, be careful what you wish for, I say.
Friday, 12 November 2010
Tuesday, 2 November 2010
Catalyst Housing Group have announced they are to merge with Kensington Housing Trust and Fortunegate, for 'greater efficiency'; a bit of management and maintenance wouldn't have gone amiss.
Given their abysmal track record as a landlord and the state of their financial affairs this is no surprise to me. I have been monitoring their accounts and quite frankly they are shocking. Catalyst are mortgaged up to their necks and are servicing massive loans of nearly half a billion; they have received three-quarters of a billion in Social Housing Grant. They spend more on interest payments than they do on maintaining stock; they state they need to double their stock in three years to bring in £20m/year profit just to keep going.
KHT, a notoriously awful landlord, is selling off street properties (£2.5m/year) to subsidise interest payments. They are totally reliant for survival on Social Housing Grant (£139m 2009/10), which they will see no more of during this government. They have capital commitments of nearly £100m this year, all being paid by Catalyst; what a mess. It seems the April Fools prankster who turned their offices into a ‘crime scene’ had the inside story; we were the fools, for not understanding what it meant.
I have no idea what this means for Wornington Green, but frankly I think it unlikely this is the last we will hear of this; this reorganisation will not save enough to put them back in the black.’