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veuve

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About veuve

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  1. http://www.bbc.co.uk/news/uk-scotland-scotland-business-23058917 So Inverness have negotiated a five year deal with EasyJet - what are Reynolds and Cretney doing are we last in line as usual ?
  2. We must remember that using Manx Airlines during the 1980's the cheapest return tickets to Heathrow were ITX tickets which should have been combined with a hotel stay or car hire and those were around the £170 mark with other tickets running anywhere from £225 to £400 . People realised that was the price and paid it. Now everyone expects cut price tickets and suddenly we find airlines are pulling out because they are losing money. We live on a small Island and to sustain our air links we have to expect to pay higher prices than on the more mainstream routes such as London to Paris. It is a great shame that our Govt were not brave enough to take over Manx Airlines - i am sure they had the opportunity and the increase in value of its slots would have easily offset any trading losses but as I believe it was profitable when sold that probably would not have been an issue.even recently could the govt not have Purchased at least two pairs of slots from flybe far better use of funds than throwing it at the Sefton. Could then have brought back Terry Liddiard to lease whatever aircraft was needed and charge us a commercial fare sufficient to make it break even If we get stuck with only London access being via the nightmare of Luton or the even more inconvenient Stan stead we will not be seeing any new business heading our way and an awful lot leaving. For people going on holiday it is going to mean the extra expense of overnight stops in London because we will be unable to make same day connections. I hope our minister and Airport director have their begging bowls out and are in deep negotiation with British Airways and Easyjet. It has been very quiet since the BA pull out was announced..............
  3. Well looks like BA timetables are in now. Severely reduced service from IOM to LCY from September 1st with no early morning flights at all. We are going to be marooned on this rock.
  4. veuve

    Bay Festival

    If in fact the 66 by 104 metre tent has been booked and is coming for the Elton John performance surely most of the tent cost is the transport and assembly and that being the case why cant either the Elton John promoters or Irving continue with the Westlife concert. Irving I believe at one stage did say the 4500 Westlife tickets on offer had been sold out so they were releasing a final batch ? If he was telling the truth (?) that is £200k + in ticket sales and should be enough to cover the Westlife costs and pay a contribution to the cost of the tent. One must presume that if the tent is coming they have got freight bookings for it already made and therefore the tent could easily still be in situ on Sunday 19th.
  5. There are Banks in the UK that will open accounts for non-residents. HBOS is one and gives rates better than BOSI on Island http://www.bankofscotlandhalifax.co.uk/savings/nonukcustomerrates.asp Unless you open a time deposit of £50k or more which automatically pays gross interest you need to complete an R105 form which allows them to pay gross interest on smaller accounts. There are other Banks that will offer accounts as well such as NatWest, Liverpool Victoria and others. Nationwide of course will not and just refers you back to Nationwide International in Douglas whose rates and range of accounts are far worse than its parent company. You need to bear in mind UK probate and estate tax issues if keeping funds in UK banks
  6. Not true at all. It is extremely difficult for anyone who does not have a UK address to oopen a bank a/c in the UK Just ring up Lloyds Banks HQ for one. Ask for Jane Fowler she will explain this to you. ( and direct you to Lloyds international IOM) It is difficult especially to do it by mail but walk in to any of the Banks in Liverpool with your passport utility bill and cheque book and they will sort you out very quickly. Also a good idea to print off the form for Gross Interest (for a non resident) from HMRC site and take it with you as the banks often do not have the forms handy. I have opened accounts with the UK branches of all the Banks I mentioned. For info here is HBOS site for Non Residents http://www.bankofscotlandhalifax.co.uk/sav...stomerrates.asp
  7. In that case you must live in the UK since only UK residents can bank there. So what's your angle ? Why are you so interested in this story ? It's incredibly crass telling people how much money you've got in your account and completely unnecessary in this context since it adds nothing to your point. Oh - and IOM rates are not significantly higher than UK money market rates currently with the exception of the Irish Banks. It is perfectly possible for an Isle of Man (or any expat) to open Bank Accounts in the UK. The problem is that you have to work at it and not be fobbed off. You can fill in a UK Income Tax form to claim gross interest or fixed term deposits of £50k or more are paid gross automatically. Some banks will try and point you to their Offshore subsidiaries but persevere. Bank of Scotland even has a website for Non Residents which offers rates that are better than those offered by BOSI in the Isle of Man. I know Barclays NatWest Bank of Scotland/HBOS all will take non resident accounts. The problems to be remembered though are that it may be that UK probate would be required should the depositor die and it will be important not to exceed the IHT levels. Nevertheless with Joint Accounts the UK could currently be used for up to £650k spread around in £100k parcels to be safer but the UK is far more likely to support its own banks rather than the Offshore subsidiaries and at the end of the day the UK just prints the money that may be needed. The IOM cannot do that. Incidentally how long will NatWest Offshore (NatWest Coutts IOM Bank) survive as part of RBS and owned by UK Government ? Santander will doubtless be pleased to be given the deposits to manage and bail out the Spanish Property market !
  8. It may be a small Bank in Ireland but it is important news as far as the Island is concerned. We have AIB BOI and also Irish Permanent and Irish Nationwide all having operations on the Island and Licensed by the FSC. It is doubtful if the Irish Government could stand behind all of them and the Irish Depositor Guarantee only kicks in AFTER any local Depositor Protection Scheme has been used meaning that the IOM Scheme (or effectively us as taxpayers) will be responsible for the first £50k should one of the above be allowed to fail. AIB and BOI are important institutions, but the other two ..... I just hope the FSC are on top of this and do not allow all the deposits to disappear into an Irish whole and generate another KS&F situation.
  9. Why has the Nationalisation of Anglo Irish not been covered by either Manx radio or Isle of Man Newspapers. Do they have a "D" notice procedure to hide bad news ? In this case maybe to prevent a run on the other Irish Banks on the Island ... http://www.ireland.com/home/Mixed_reaction...rnewsirishtimes
  10. That is not what it says. The paper says that the scheme manager (the FSC) has the power to borrow money either commercially or from government if it wants to speed payouts up. It does not say the government will "have" to borrow money in the open market. The government could attempt to use its reserves to lend to the scheme or, in a worse case scenario, it might have to go to the open market to raise the money to lend to the scheme. As a AAA (currently) rated jurisdiction it could do a bond issue or otherwise to raise the money although I seriously doubt people are queuing up to lend to tiny Island states that need the money because a bank has gone tits up. Even more so now we have damaged our own credibility as an offshore centre by the way this is being handled. 10,000 customers with £840 million in deposits and bearing in mind that KSF was used by mostly larger depositors because of the old Singer connection could well mean that up to 80% could be claiming the full £50k compensation if their funds cannot be recovered. That would mean a liability of £400 million to the Isle of Man compensation scheme where does IOM get that amount of money. Borrow it over 40 years because that is how long it would take to be paid back from the current levy. They have only just finished paying out the relatively modest sums caused by the collapse of BCCI in 1991. Why will people leave their funds in Isle of Man Banks with a far lesser amount of protection than elsewhere. I think HSBC is the only Bank on the Island that operates as a direct branch as opposed to being in a separate company like NatWest Offshore or International that holds IOM Bank RBSI and NatWest and I think Lombard Finance if it is still around.
  11. Whilst listening to CNBC yesterday I heard a Commentator asked whether they should continue to use Offshore Banking facilities. The reply was a most certain recommendation to move all funds to an area that has fully guaranteed their depositors. How does the Isle of Man intend to respond. We have a depositors protection scheme that is totally inadequate and will struggle to pay out even the smallest bank failure for many many years. maximum levy £500k per licence holder per year. Thirty licence holders (many like Barclays having more than one and may surrender one or more) means at most £30 million a year available to compensate depositors and realistically somewhat less as people like Conister would only have to subscribe a lesser amount because of their small size. KSF may have had £2 billion of deposits of which maybe £500 million should be covered up to £50,000. That means that it will take over 15 years to repay depositors and many with more than £50k are left as big losers. A deposit in the UK or even Ireland is government guaranteed for the full amount. The main reason for locals and indeed people living abroad using Manx and other offshore Banks has been to avaoid UK Income and possibly more importantly UK Inheritance Tax. Now that the UK limits have been substancially raised on Inheritance Tax that is of slightly less concern to the medium sized depositor. So why should anyone with more than £50k continue to use IOM Banks. Indeed even with under £50k do you really want to have to wait years to be repaid should the worst happen ?
  12. Raising the Deposit protection limit to £50,000 means absolutely nothing unless there are compensation funds immediately available to meet any claims. I suspect that even Bradford & Bingley International would have resulted in claims of about £1 Billion had it not been rescued. How long would that take to pay off being funded only by an annual levy of I think a maximum of £250,000 per licence holder of which I think there are only about 70. I hate to say it but everyone would be safer placing there money in a US Bank where the accounts are now guaranteed to $250,000 and in the event of a bank failure accounts/funds are normally assumed on the instructions and with the backing of the Federal Deposit Insurance Corp with another Bank and are available within a couple of days.
  13. For better or worse (I'm not expressing an opinion - other than), this is how most people outside of the IOM will think, if things were to ever get really bad.
  14. This is factually incorrect. One bag with flybe costs £6.99 each way when you book your ticket online and book your baggage at the same time. You can add up to 9 pieces of luggage weighing up to 20kg economy (or 30kg for economy plus) per item. You pay £6.99 for each bag, each way. It is you that is factually incorrect. The total weight allowed in paid for bags at £6.99 (online) or £12 at the airport is a combined weight of 20kgs. You can pay for one bag of up to 20kgs or two or more bags that add up to 20kgs intotal not per bag. Excess charges are £7 per kg therefore having your first bag at 20kgs and paying £6.99 and then on your second bag at 20kgs would attract an excess charge of £140 (actually plus the per bag fee of £6.99). If you still do not agree please provide your source. It is certainly not in their terms and conditions http://www.flybe.com/flightInfo/1baggage.htm
  15. We need to exert some pressure on FlyBe to be more reasonable with their Baggage charges. When they first came to the Island they allowed a fairly generous 25 kgs and charged about £3 per bag. As long as the bag was under 32kg they let it go on without further charge although may have said next time remember under 25kgs. Hand luggage was flexible. We are now down to 20kgs and £7 per bag booked online or much more at the airport and a hand luggage allowance of one piece (size smaller than major carriers) and max weight 10kgs. By paying about 3 times the price of an economy ticket they will allow one case of max 32 kg free of charge. They are now rigorously enforcing excess charges at a rate of £7 per kilo. We cannot drive off the Island and therefore most of us rely on air links when going off Island on business or Vacation. A Business trip especially an International one often involves weighty files as well as general wardrobe, often involves two destinations or more that require warm weather clothes in one and cold weather clothes in another. Many Isle of Man residents or at least the lucky ones enjoy long vacations and cruises and 20kg limit just does not work. I have noticed in America some airlines are now starting to charge for a second bag but at a flat rate of $15 or $25 which is fair enough. A second bag with Flybe weighing 20 kg would cost £140 each way. It is even more ridiculous when you could buy a second seat say to Manchester for £40 and in theory use it just for the luggage allowance but FlyMaybe will not allow that. They have previously told people that if there is an International connection within 24 hours of a Flybe flight they will honour the baggage rules of the other carrier but the ground crew/check in people say only if on the same ticket. With most of us buying tickets online it is not possible to get everything on the same ticket. I guess a travel agent may be able to do it but I suppose at much higher cost. Does anyone know of a travel agent that can combine a Flybe flight with for instance a Singapore airlines one and what the extra cost would be vs booking flights separately on line? there is a case for the Office of Fair Trading or the Government to intervene. The Island will only suffer if this goes on. Already many international clients express great surprise that we no longer have a jet on our London route and at the size of the stowage space on the Dash 400. If they knew about the accident history and that SAS withdrew every aircraft (about 30) from their fleet and replaced them with a different make after a series of accidents last year many companies would not allow their staff to fly in them. It also worries me where the 30 SAS aircraft might finish up (sold off cheap to FlyBe ?).
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