Credit Crunch

Friday, 31 October

We rounded off our week long special on Cash's Lane by inviting local MP Bob Ainsworth into the studio. Having heard stories from the lane about the difficulties people are facing at the moment, we wanted to put their views to their own MP. You can hear some of Liz Kershaw's interview with Bob Ainsworth further down this page.
 
We also heard our final story from Cash's Lane, a small business finding it tough to get enough work to keep the business going. Roger told us he needs to find £16,000 in corporation tax by the end of the year. He said even if he finds the money he's not sure he'll have enough to re-invest into the company to keep it going.

MP Bob Ainsworth and Liz Kershaw

Having spoken to so many of the residents and businesses on Cash's Lane, it's clear that life is extremely tough at the moment. Very few people told me they were doing well. The cost of living is really starting to hurt especially for basic necessities like food, gas and electricity. We'll be keeping in touch with the folk of Cash's Lane to see how they do over the next few months.

If you'd like to get in touch with your stories and tell us how you're doing at the moment then please do drop me an email at

Thursday, 23 October

Today we heard from Val, she's a former taxi driver who's lived on Cash's Lane for 10 years. She's unemployed at the moment and stopped driving her taxi a few years ago because of her health. She suffers from thyroid problems and has just been diagnosed with type 2 diabetes.

For Val, it's tough not being able to work and having to survive on benefits. She used to be a very active person and loved life as a taxi driver in Coventry.

Val wants the government to help people out with the soaring cost of gas and electricity. She's also frustrated with credit card companies making it easier for people to get into debt.

It was interesting to hear Val's take on  impending recession worries. She spoke of a culture of greed and said the economic situation might help people to tighten their belts a bit and stop taking things for granted.

Tomorrow we'll be hearing from Cash's Lane's local MP Bob Ainsworth. Liz Kershaw will be talking to him about some of the concerns they've raised. We'll also be hearing our final story from Cash's Lane, a small business called Coventry Form Tools who are finding it extremely tough at the moment

Wednesday, 22 October

Cash's Lane has a fascinating history and today we heard the story of Irene. She was born on Cash's Lane and worked in the old ribbon weaving factory there. It was interesting to hear stories of Colonel Cash when he was involved in running the factory.

Irene and Sian outside the former factor

BBC Coventry and Warwickshire's Hannah Tobin has put together a special photo gallery here on the website of some of Irene's pictures, which include Colonel Cash himself.

Irene no longer lives on Cash's Lane and I was only able to track her down after I'd interviewed Alec and Gerty who've lived on the lane for 60 years. They're a very special couple and are about to celebrate a very special milestone.. Their 68th wedding anniversary, yes that's right their 68th!

They were married when Alec was 20-years-old, just before he was called up to serve overseas in WW2. They had one week together as a married couple before he was shipped out to serve in the middle east. Alec and Gerty didn't see each other for four years! You can hear their amazing story on our Cash's Lane page .

Tomorrow we'll be hearing another story from Cash's Lane so stayed tuned and keep an eye on the website. If you'd like to get in touch with your thoughts and stories then please drop me an email:

Tuesday, 21 October

Today we heard Mohammed's story. He's lived on Cash's Lane for a few years now and has quite an intriguing story. He's an analytical chemist who was made redundant in 2005 and hasn't been able to find a job in that sector since.

He's worried about the future and says he desperately needs to find a job soon. At the moment he volunteers for Coventry Older Peoples Forum, teaching people computing skills.

Sian and Mohammed

Mohammed told me he's living on just £2-3 a day and can't afford things like new clothes and household appliances. He's applied for Christmas jobs and hopes he'll find something before his savings run out completely.

Having spoken to a small business yesterday and reflecting on the possibility of new initiatives to help them at the moment, it was interesting to hear about the new package of measures announced by the government today.

Whilst on Cash's Lane this morning, I met Rachel. She's just finished at Coventry University and runs her own small design business. For her, the economic downturn hasn't had a major impact on the business. She told me the cost of her supplies has risen slightly, but nothing she couldn't handle at the moment. 

Tomorrow we'll be hearing from a woman who was born on Cash's Lane and worked in the old ribbon weaving factory there. She's supplied us with all manner of pictures and information, which will be appearing in a special gallery on the website. We'll also hear the story of a couple who're about to celebrate their 68th - yes their 68th wedding anniversary. So, stay tuned to the breakfast show. And of course please do drop me an email if you'd like us to hear how you're doing at the moment....

Monday, 20 October

Well today was indeed 'crunch time', our first show of the week broadcast live from Cash's Lane. Liz Kershaw and the team headed out in the wee hours (6.30am to be precise) and squeezed our radio car onto the drive of Caroline and her family.

Sian with Caroline and her family

They moved into Cash's Lane six weeks ago and kindly invited us into their home. Caroline's a single mum with four children, two boys and two girls. She lives with her eldest daughter Emma who's 23, Rebecca who's 10 and her little boy 2-year old Cory.

As a single mum Caroline told us how difficult things are for her at the moment, she doesn't have a job and is finding it difficult to support her family simply on state benefits. Ideally, she'd love to go back to work, her dream is to own her own coffee shop one day. Her daughter Emma is looking for work herself at the moment, hoping to help the family with rent when she finds one.

Despite their difficulties, it was clear this was a family who looked out for each other, who supported and appreciated each other, even though things are tough and look to remain tough over the coming months.

During the show I visited ACME Care, a small business at Cash's Business Centre. I spoke with Chief executive Edna Price and one of her staff members, Jason. They told me things were difficult and that in order to maintain a good quality of care for their clients it was staff who were suffering. So much so that Jason told me, staff don't always claim back expenses for things like petrol. They finds themselves forking out their own money, staying late and putting in extra hours just to keep the business going.

Jason from ACME Care

Edna had had a particularly long weekend, telling me a 7 day week is now the norm for her. She told me small businesses find it hard enough to survive as it is even without the so called credit crunch.

Politicians came out talking about small businesses today, suggesting the government freeze VAT for them. But, realistically that just isn't going to happen is it? Perhaps the government will announce some sort of measure to help small businesses who are really hurting at the moment, but it's hard to see that happening - it's certainly been an expensive month for the chancellor so far! 

During my search for stories on Cash's Lane I spoke to one businessman who thought the media were making things sound much worse than they actually were. For him, a long term property developer, he felt his business had been around long enough to weather this sort of economic storm.

Even the BBC's own business editor, Robert Peston came under fire last week from some of the newspapers, over his coverage of the markets. But, this global financial crisis as it's so often reported, is truly global. I listened to George Bush's press conference with french president Nickolas Sarkozy over the weekend. When you hear leaders from across the world recognising that they need to work together to tackle the economic downturn, it puts things into context.

But, admittedly, for some business is just as good as it was last year. Particularly for Tina who runs a rather tasty butties stall on cash's lane. She told Liz Kershaw (whilst me and the rest of the team munched on some of her delicious bacon butties!) that she's doing really well. She couldn't complain because business was just the same as it ever was.

So, for some people living and working on the lane there's certainly less Cash, but not everyone's feeling the pinch.

Stay tuned to our breakfast show everyday from 7-10am where you'll hear a new story everyday this week from Cash's Lane. All of my interviews will be going up on this site throughout the week. Tomorrow you'll be able to hear the story of an analytical chemist living on Cash's Lane. And of course we really do want to hear your stories, how are you doing at the moment? You can email me at:

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