Slim

You have to apply some logic. There was a pack of 6 riding 2 abreast out past Greeba on the course this morning with bikes flying past them. It's Mad Sunday - I have no sympathy for any of the fuckers. They're just asking to go home in an ambulance. Most of them appear to be arrogant shit-heads who are just doing it to cause annoyance and add to the already dangerous situation on the roads. They won't feel so bloody smug if one of them gets wiped out.

Careful, your prejudice is showing. Where do things like arrogance and smugness come into it? They're just doing what they enjoy, it's you that's projecting smugness onto them. Feeling a little insecure are we?

Stupid twats.

There's zero logic in your stance. Motorcyclists are dying, and you're complaining about how unsafe cyclists are? How many cycling fatalities have there been?

Pretty good read about why bitcoin's fucked:

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.ysxzusbaw

One interesting thing lifted from this; as something get's larger, it's harder for it to be truly distributed because the number of institutions that have the capacity to host reduces. It's almost self defeating.

No reviews? This place ain't what it used to be.

I was there. It was great evening, lots of fun.

Was that on open roads as well? Was Boardman back in the days of closed roads?

I understand Boardman's record was open roads, but with a lead and trailing car. Pete did it this weekend without.

Talking of the mountain course, Peter Kennaugh beat the long standing record for getting round it on a push bike as set by Chris Boardman. Pete managed it today in 1hr 23.

http://www.energyfm.net/cms/news_story_374521.html

 

Out of action again?

"The ship is now travelling to Belfast as scheduled."

Please what are those tangible benifits?

 

I have no problem in our government searching and striving to look for opportunities and benifits in order for our country to prosper

 

Sadly the last decade, two administrations, have shown none or little TANGIBLE benifit for their efforts.

 

Please if you have examples of those TANGIBLE benifits can you give examples?

 

From the media development? Profits from films, exposure for the TT from Closer to the Edge and indirect income from film production on the island and most crucially a large benefit to GNP.

COMIN block vote. What else would happen?

17 in favour, only 9 in the council of ministers which if I remember correctly included Peter Karren at the time who voted in favour in comin then didn't support in Tynwald. Only 1 against in Legco too.

I can't believe that our government have, without discussion in Tynwald, 'invested' our money in such a volatile and uncertain business as the film industry!

This is one inept island, it really is! How can those responsible even show their face in public without being pilloried? And I mean both CS and politicians here!

There was a debate and vote for the pinewood investment which had a majority in favour.

so, perhaps I'm not following too closely or even at all??, we sell 50% of the shares we had/have at a 50% profit that is stated as being 2.5 million. ( teare gets a hard on ) so did we sell something that was originally 5 million quid for 7.5 million???? based on that we only had 10 million quids worth of shares to start with then?????? where are the other long millions we spent with the film industry????

We didn't sell half the shares. The other millions spent were not on pinewood shares, this is a separate deal.

.and the answer is it didn't. So, if we know that film sales alone cannot possibly have accounted for such a huge return, how did the Government do it ???

We know the answer to this, it's the same reason we can't do it any more

so does the mangement fee now reduce by the same percentage now there is less to manage?

This is the sale of a portion of the shareholding in pinewood, nothing to do with the development fund.

So Slim why do you think someone bought the shares at that price?

I couldn't possibly know, but presumably because they considered it a good investment? The shares were released at a 12% discount so that could be quite attractive.

So bit like the TT then.....inevitable and unquantifiable....

Well like many things government supports. What's the economic return of agriculture grants, of reduced vat on building and development, of fix asset grants to business, of increasing the budget for primary school teacher training, of building a new road to the airport...

Government tries to support without there being a quantifiable return. In this case, it's all a bit muddied by the history. The fund started as a way to either fiddle vat or encourage a film industry here, or a bit of both. It's been moving towards being more of a managed investment so it's all a bit messy and confusing.

Still, I'd have thought for those who think it's a waste of time, that reducing our exposure and taking a profit is a good thing.

I am quite willing to eat humble pie when we can see an audited balance sheet showing how good an investment this is for the taxpayers of the Isle of Man, and not just for a few people !

You never will. The profit from the share purchase will be evident, but the return from film investment's always going to be hard to ascertain exactly as it's a development fund not an investment fund. Long tails, promotion of local business relating to films, boat/hotel bookings etc.

But not the profit on the investment? Still 25% in my book.

It's £2.50 to £3.75. It's not rocket science like.

I thought it was £24 million that was put into Pinewood shares. Now we've got about £10 million invested.

Nope. 24 million was the original proposal, but they only bought half of the shares.

Surely an investment of 10m means 2.5m is 25% profit so far?

As reported, it's the profit on the shares sold only.

Even the fookin magic circle can't work that one out mate...

I wouldn't hire you in business development albert. It's quite simple, they owned nearly 5 thousand shares, but have sold just over 2 thousand. They didn't sell half the shares, the holding is adjusted by the new issue plus the share sale.

Carry on and bleat and complain though, everything is shit in albert land.

You know its not that simple. It's not just about shares it's about the whole investment fund, management fees and general overall loss of money.

 

Coming up on red once doesn't discount the 55 times we lost on black.

I didn't claim otherwise. In fact I've said multiple times in this thread that the issue is far more complex than 'we have invested x and received y', there's business development, economic stimulation, vat shenanigans and all sorts wrapped into this. But specifically on the pinewood shares, reducing our holding and earning from it is surely positive news? How is that wrong?

Remind me not to employ you in a business development role...I couldn't afford you.

Is this just general Tatlock glass half emtpy negativity, or is there a specific reason why a 50% increase is not a good thing?

We've seen post after post saying the pinewood price isn't real because it can't be realised. Now it's been realised, and it's made money and you're still bleating. Just goes to show, there's no winning with the terminally miserable.

Newsnight, we've made 50% on our shares and reduced our exposure by half. Can't you even acknowledge that it is in fact good news?

It's an office as I recall.

Few shots of castles n king bills and shit in the trailer:

As a PAID Pinewood Director, Steve Christian advises that Gasworks (a company that Steve Christian solely owns) be PAID to advise us.

That's stretching it a bit. He's only paid once, his director salary is paid via gassworks as per the pinewood filings.

Gasworks then advise us to hire Steve Christian as Producer of "the Cottage"*, another £multi-million flop (surprise, surprise) for which he is PAID.

Is that about right?

I don't know. as you don't know what is provided from Gasworks to Pinewood. It's pinewood who advise us. As for what anyones paid out of "the cottage", do you have those facts to hand, or did you make it up?