Author Topic: Barclay Brothers throwing toys out of their prams  (Read 5379 times)

Offline danrok

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Re: Barclay Brothers throwing toys out of their prams
« Reply #15 on: December 15, 2008, 06:02:45 PM »
I would hardy regard a person that can afford to live in Sark (only 400) as poor would you?

I think the majority of those who have lost their jobs, are not locals as such, and would have been working in fairly low-paid jobs, and living in rented accommodation.

Those living there who don't need to work to pay the bills aren't likely to get any charity hand-outs.

Offline Fritz

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Re: Barclay Brothers throwing toys out of their prams
« Reply #16 on: December 15, 2008, 06:25:58 PM »
As far as know, quite a high percentage of those losing jobs moved to Sark specifically to work for the Barclay Empire.

I,m sure most folk on Sark were already in employment before the, "Terrible Twins", took over.

fryertucker

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Re: Barclay Brothers throwing toys out of their prams
« Reply #17 on: December 15, 2008, 09:56:34 PM »
Just imagine if something didn't go Dandara's way and they laid a load of people off.... Or is that different?

Offline danrok

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Re: Barclay Brothers throwing toys out of their prams
« Reply #18 on: December 15, 2008, 09:59:36 PM »
Dandara doesn't employ 25% of Jersey's workers, nor do they publish news letters saying "vote for these candidates or else".

fryertucker

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Re: Barclay Brothers throwing toys out of their prams
« Reply #19 on: December 15, 2008, 10:04:02 PM »
I heard a rumour that they have some members that vote for certain development proposals that go on though.  (Just a rumour though).
« Last Edit: December 15, 2008, 10:05:59 PM by fryertucker »

Offline danrok

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Re: Barclay Brothers throwing toys out of their prams
« Reply #20 on: December 15, 2008, 10:13:45 PM »
I heard a rumour that they have some members that vote for certain development proposals that go on though.  (Just a rumour though).

Sounds a bit vague.

I think just about all of their current large-scale developments were approved pre-Freddie Cohen.  He did approve the Goose Green development, but it was already partly approved before he got the job.

The new Castle Quay apartments might be an exception.

The thing is, if Dandara wasn't building all these flats, some other property developer would be.

The real problem is the high price of homes in Jersey.  Anything you would want to live in costs a fortune.

The main gripe I would have with Dandara is that they sold a lot of apartments to overseas property investors.  But, they were doing nothing illegal, and I blame Terry Le Main for being totally hopeless in this area.  For as long as he is Housing Minister, we will have problems.

fryertucker

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Re: Barclay Brothers throwing toys out of their prams
« Reply #21 on: December 15, 2008, 10:16:06 PM »
I agree, they should never have been allowed to sell ANY flats to outsiders and it was a deliberate blind eye turned against the people that need cheaper places to live to go with their incomes.

We can only hope that something changes for the better Danrok.

fryertucker

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Re: Barclay Brothers throwing toys out of their prams
« Reply #22 on: December 15, 2008, 10:23:16 PM »
You have to also ask yourselves whether these Dandara flats are worth buying anyhow......

fryertucker

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Re: Barclay Brothers throwing toys out of their prams
« Reply #23 on: December 15, 2008, 10:33:21 PM »
They may have been selling these flats to outsiders because of little local interest though.  But that was when they should of slashed prices and only gone for a minor profit.

Offline Pomme de terre

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Re: Barclay Brothers throwing toys out of their prams
« Reply #24 on: December 15, 2008, 11:07:02 PM »
A large proportion were likely sold to off-island buy-to-let investors who are "geared" to the max. When the credit crunch knocks on their door, there's a chance they will become forced sellers, at a reduced price.

Offline tonytheprof

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Re: Barclay Brothers throwing toys out of their prams
« Reply #25 on: December 15, 2008, 11:14:07 PM »
Not all the Dandara flats were sold to outsiders for rental. A former States member who has just left the States (as detailed in the public domain - register of members interests) bought one of the West Park Flats for rental out (not to live in)!

That pushes up prices too just as much as outsiders buying them and renting them out.




Offline danrok

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Re: Barclay Brothers throwing toys out of their prams
« Reply #26 on: December 15, 2008, 11:41:16 PM »
They may have been selling these flats to outsiders because of little local interest though.  But that was when they should of slashed prices and only gone for a minor profit.

In general, property developers target private investors looking for easy money.  Men and women in smart suits seduce them with glossy brochures, and convince them to buy 1 or more apartments.  So many of these investors sign on the dotted line, having never even visited the property they're buying.  The property developer handles everything for them, such as finding tenants, collecting rent, carrying out repairs.

More money than sense.
A fool and his money are easily parted.
No such thing as a free lunch.
Sounds too good to be true.
etc.

Now that it's all gone wrong, lots of these buy-to-let apartments are being repossessed and sold for a lot less than the original price.  Even those in Jersey have done nothing but fall in value since they were built.

I don't have much sympathy for people who think they can earn a good living whilst doing absolutely nothing, other than attending hairdressing appointments, going to the gym, and other pointless activities.

Offline danrok

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Re: Barclay Brothers throwing toys out of their prams
« Reply #27 on: December 16, 2008, 03:36:52 PM »
"Barclays bad news for Sark"

An official response from Seigneur, Michael Beaumont:
http://www.channelonline.tv/channelonline/DisplayArticle.asp?ID=374506

Quote
It says: "Of the claimed £5 million investment there is little evidence of it in Sark.

"On the contrary, the authorities believe the island has been financially disadvantaged by the manner of their property transactions, in their tax avoidance schemes and in defence of their legal suits."

He has a point.  Where did all that money go, in such a small place?

fryertucker

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Re: Barclay Brothers throwing toys out of their prams
« Reply #28 on: December 16, 2008, 05:45:52 PM »
Seigneur Michael Beaumont is a hipocrit here.  I seem to recall the local Sark directors at one time making millions tax free until the Edwards Report blasted the practice.

fryertucker

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Re: Barclay Brothers throwing toys out of their prams
« Reply #29 on: December 16, 2008, 05:58:48 PM »
Sark is actually a good example of a place that breaks down pretty darn quick when its 'financial services' industry is damaged.

So it is obvious that they needed the Barclay Brothers and all Seigneur Michael Beaumont has done is damaged that already reliant relationship even further.