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Mike D

Listed below are comments made by Mike D between Tuesday, 5th May 2009 and Wednesday, 9th December 2009.

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How the bonus tax will work 09:13am on 09 Dec 2009 Sarkozy will be delighted - today will be known as the day Darling killed the City.
Will biffing bankers also biff Britain? 10:11am on 07 Dec 2009 No easy solution for this I'm afraid and in reality nothing will change.

As an employee, I accept that part of my compensation will come by way of a performance related bonus. So to find that my ability to perform is taxed at a punitive rate, that would make me disincentivised or alternatively, ask my employer to explore legal tax loopholes for me to exploit.
RBS board to quit if chancellor vetoes £1.5bn in bonuses 7:01pm on 02 Dec 2009 Not being funny but there can't be that many people who are any good that want to work for RBS. So whether they pay bonuses or not, it's immaterial of the impact of paying them or not.

In which case, lets not....They're lucky to have jobs.
Dubai: Wholly avoidable crisis 1:51pm on 30 Nov 2009 Hooray! Pesto's back

Seriously though, asset prices are over-inflated across all markets. Pricing doesn't appear to reflect underlying fundamentals and if Abu Dhabi doesn't guarantee a full bail out of Dubai in the next day or two, the jitters will be reflected in asset pricing across the globe.

Which is just as well because I've saved my cash for an imminent crash.
Review of the week 5:56pm on 27 Nov 2009 Very amusing blog. Am a big fan of Henry, the hoover and the player. My mach 3's not going in the bin...

Have plenty of sympathy for Ireland fans but also have to love Evra's quote as well...I think his gamer ID is smallmansyndromeNo3 if you want to take him on.
No rush for Rodwell move 1:37pm on 19 Nov 2009 The only place Rodwell should consider going is Arsenal.

He would develop into a fine player and would get regular play either in defensive midfield or centre of defence, but without being burned out as he could provide cover for Song or for Gallas or Vermaelen.

Everton's got a great youth system, but they need the money.

Est-ce que vous lirez cette comment M. Wenger? Achete le garcon!
Can new-look Lions square the series? 12:44pm on 26 Jun 2009 Not sure why my last comment was referred to the moderators...

Anyway to reiterate my point - Morphey00 I like your ambition but if there is to be a Lions win its only going to be by 5pts.

Ernielove - your overconfidence may be your downfall! Watch this video and learn a valuable lesson: [Unsuitable/Broken URL removed by Moderator]
Can new-look Lions square the series? 11:49am on 26 Jun 2009 I too think Armitage was unlucky not to be selected but then again you can only take 35 on tour. Byrne & Kearney were better picks and Hook can provide cover at fullback if need be.

Croft aside I have to say I have been disappointed by the Lions back row. there is very little dynamism and not enough impact with ball in hand or in defence. Time and again we have been done over at the breakdown by poor teams. The selection of Worsely was very one dimensional - the man can barely pass water for goodness sake. As for Easter - please spare me. He's ok for England because there's nobody else but he's not Lions class. A trick was missed however in not selecting Ryan Jones but due to his injury picked up with Wales, couldnt play for the Lions.

Finally, in relation to the Anglo-Celtic bias - because it's the lions I don't care how many english/scots/welsh/irish are in the team because it's all one team. If you look back through the years there will be a dominance from individual countries in terms of selections because those countries were the dominant forces in the Northern hemisphere at the time. The reason that there are no Scots in the team - there's nobody good enough. The reason Ireland has so many players (and Wales) is because they have been the dominant teams in the last 4 years in the 6 nations.
Hester's Royal remuneration 10:08am on 22 Jun 2009 Can't complain about his remuneration package. Must be a slow news day - compare what he will earn to his contemporaries at HSBC and Barclays - it's less than half for sure.

Hester is an eminently capable man, not spectacular, but intelligent and steady, probably what this collapsed former giant star needs right now...
BAA: No margin for error 12:30pm on 05 May 2009 11.4bn debt at say 6% is roughly 650m pa, set against EBITDA of c1bn leaves +/-300m pa after interest. A fairly decent amount of cash and an ICR of c1.5x. Unless my methodology is wrong, I don't see such a problem with BAA on this aspect. However, I see more concern with the achieved sale price of Gatwick or Stanstead which could fall below the valuation on acquisition, plus the additional cost/fees of early repayment of the debt.

However, when it comes to refinancing next time the amount to refi will be smaller as a result. And even in these cash strapped times which bank (Goldman, Macquarie etc) would not want to have a juicy loan facility against that cash cow Heathrow paying out interest, plus hefty fees etc. So not really a problem either.

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Mike D