Volatile day in City for Countrywide as boss admits Purplebricks is now dominant

first_imgHome » News » Agencies & People » Volatile day in City for Countrywide as boss admits Purplebricks is now dominant previous nextAgencies & PeopleVolatile day in City for Countrywide as boss admits Purplebricks is now dominantBut Executive Chairman Peter Long says business now run by ‘experts’ and disarray created by Platt years is being reversed.Nigel Lewis8th March 201903,328 Views Shares in Countrywide sank to an all-time low of 8.85p each yesterday during volatile trading that saw its stock sink by over 12% as the company admitted Purplebricks is here to stay.Investors and traders reacted badly to its latest results for 2018 which revealed losses up by 5.5% to £218 million, revenues down by 7% overall and profits halved to £32.6 million.This created a rush to sell shares in the company and prompted its stock price to nose-dive. It then rallied after a webcast by its senior management team, who sought to reassure investors despite the bad news.During the investor webcast Executive Chairman Peter Long (pictured, above) described the business as having previously been ‘in disarray’. He said the foundations for growth had been laid and that 2018 was a reset year.“We have a great business which is run by experts,” he said. “We’ve now got a very strong management team as well as depth and breadth within our branch network.”During the presentation it was announced that 150 central IT staff had left the business, helping reduce costs. Other details revealed include that ‘long-dated onerous leases’ among its 800-branch network will cost it £7 million up until 2026.It was also revealed that its former Oxford Street London HQ had been costing £2 million a year to operate.Hybrid competitionLong and his MD Paul Creffield also passed comment on the company’s online rivals, admitting that Purplebricks was ‘here to stay’ but that the rest of the hybrid agency market had either disappeared or failed to gain significant market share.“No-frills online agents have not achieved the market penetration originally envisaged,” said Long.Himanshu raja Peter Long Paul Creffield Countrywide March 8, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

UK: HMS Queen Elizabeth to Signal National Awakening

first_img Share this article View post tag: Naval View post tag: Queen View post tag: Defence The launch next summer of HMS Queen Elizabeth, the first of the Royal Navy’s two new carriers, will signal a national awakening to the UK’s continuing authority on the world stage, the First Sea Lord, Admiral Sir George Zambellas, told an audience of experts from the defence and maritime industries today, Tuesday 10 September 2013.The Admiral said:“We await expectantly the rebirth of the United Kingdom’s carrier capability. We look forward to the launch event for HMS Queen Elizabeth next summer, which will be a real moment of national awakening.“Why?“Because she will be the first of two ‘big deck’ aircraft carriers capable of delivering a full spectrum of diplomatic, political and military options.”Speaking at the DSEI (Defence Security and Equipment International) exhibition in London, the First Sea Lord said he wanted to forge a closer relationship with defence industry, set against the backdrop of the UK Government’s commitment to a naval equipment programme which, by early in the next decade, is planned to be nearly half of the defence equipment budget.The Admiral quoted the Prime Minister who has spoken of the UK maintaining the fourth largest defence budget in the world, to equip its armed forces not for the conflicts of the past but for the challenges of today.Admiral Zambellas said this renaissance in the naval equipment programme was fundamental to meeting those challenges and that his ambition was for this genuinely strategic investment to be matched by an equally strategic maritime defence-industrial relationship.The First Sea Lord said:“So how would I characterise the future UK Naval Equipment Programme?“Far from being stopped in the water at a time of austerity and fiscal pressure, the UK is experiencing an extraordinary renewal of its maritime capability.”He added:“And the scale of the UK’s investment in this programme matches the scale of the UK’s ambition to be a genuine international player with real influence and authority in the world.”Although the initial costs of the carrier and other new ship and submarine programmes catch the headlines, the lifespan of these vessels will deliver real value for money to the taxpayer in the long-term.“The reality is that the naval platforms which are being built today will have long life spans – very long life spans.So this longevity delivers real ‘bang for buck,” the Admiral said.He added:“This strategic national investment is linked intrinsically to the Government’s growth and prosperity agendas in a very significant way. In fact, taken as a whole, these core programmes are one of the largest engineering projects in the UK.“Just in the carrier project alone, there are over 100 companies in the UK supply chain. They deliver world class, high-end military capability and the UK defence industry has a tradition of manufacturing excellence in this field.”The First Sea Lord also stressed the importance of innovation to both the Royal Navy and the defence industry.The Admiral said:“The march of technology is remorseless, its options expanding exponentially.“The drumbeat gets ever louder.“In the maritime domain we need to be ready for it.“We need to embrace it and we need to exploit it – because it generates opportunities,”[mappress]Press Release, September 11, 2013; Image: Royal Navy View post tag: Awakening View post tag: Defense Authorities UK: HMS Queen Elizabeth to Signal National Awakening Back to overview,Home naval-today UK: HMS Queen Elizabeth to Signal National Awakening View post tag: National View post tag: Signal September 11, 2013 View post tag: HMS View post tag: Elizabeth View post tag: News by topic View post tag: Navylast_img read more

HNLMS Van Speijk Conducts First Friendly Approach

first_img View post tag: Navy View post tag: first Whilst patrolling the IRTC, the Dutch frigate’s boarding team was dispatched to conduct a friendly approach on a dhow. These routine checks are conducted to strengthen mutual understanding between the EU Naval Force and local seafarers.The boarding team approached the vessel and were invited onboard by the dhow’s master. A general discussion was conducted in order to help strengthen mutual understanding between the EU Naval Force and local seafarers, as well as obtain first-hand information about possible piracy incidents in the area.[mappress]Press Release, September 04, 2014; Image: EU Navfor View post tag: HNLMS Van Speijk Authorities HNLMS Van Speijk Conducts First Friendly Approach EU Naval Force warship HNLMS Van Speijk has carried out her first friendly approach in the Gulf of Aden. Following a routine logistical stop in Djibouti, HNLMS Van Speijk was assigned to patrol in the Internationally Recommended Transit Corridor (IRTC), monitoring merchant traffic and safeguarding shipping. View post tag: conducts September 4, 2014 View post tag: africa View post tag: friendly View post tag: Naval View post tag: europe Back to overview,Home naval-today HNLMS Van Speijk Conducts First Friendly Approach View post tag: Approach View post tag: News by topic Share this articlelast_img read more

Memorial Day Services in Ocean City on Monday

first_imgOcean City’s annual Memorial Day Service will be held 11 a.m. Monday (May 26) at Veterans Memorial Park, Fifth Street and Wesley Avenue.Also on May 26 at 9:15 a.m., Ocean City Beach Patrol lifeguards will row out in the waters opposite the Music Pier off the Moorlyn Terrace Beach and place a wreath to honor and remember the men and women who sacrificed their lives so that we can live free.last_img

Planning ahead

first_imgReal Food’s ground-breaking format reflects the focus given to food standards – in particular, provenance and sustainability. It is both a trade and consumer show, with a dedicated trade day on Thursday 24 April. Tickets for the dedicated trade day cost £20 (including VAT), which includes the entrance fee, the gala evening, complimentary producer sampling of ingredients and workshops. Bakery exhibitors include De Gustibus, Flour Power City Baker and The Flour Station.last_img

Railroad Earth Sets Their Sights On NYC Throwdown With Cabinet

first_imgNext Saturday, March 5th, Railroad Earth will take the stage at NYC’s Playstation Theater in the heart of Times Square (tickets are available here). The roots and Americana-based “newgrass” jam band is made up of six highly talented musicians that can flat out write beautiful songs and take them to great heights, with their ability to stretch them out with some serious jamming. While the group doesn’t like to be labeled in one style or another, their songs are steeped heavily in the bluegrass, rock n’ roll, and celtic traditions.Whether it is Todd Sheaffer‘s skillful song craftsmanship, Tim Carbone‘s ethereal violin, the sound of John Skehan‘s alluring mandolin playing, Andy Goessling literally playing one of nine instruments, or the rhythm section of Carey Harmon on drums and Andrew Altman on upright/electric bass holding it down, one thing is for certain: when all of the pieces come together it makes for a transcendental experience. Railroad Earth’s music simply takes you on a enchanted journey of epic proportions.With five studio albums under their belts, along with the extremely popular live album Elko, Railroad Earth was also brought in to record last year’s highly-acclaimed album Ashes & Dust by Allman Brothers Band/Gov’t Mule’s Warren Haynes, which was followed by a tour in support of the record. In other words, this isn’t a show that you want to miss.Warren Haynes and Railroad Earth Debut ‘Ashes & Dust’ At Intimate Town Hall PerformanceJoining Railroad Earth for the NYC show will be Scranton-based bluegrass outfit Cabinet. The group has been gaining a lot of recognition over the last couple of years, touring all over the country while releasing their third studio album Celebration in early 2015. Make sure to get to the show for Cabinet’s opening set, as there is sure to be plenty of boot-stomping and drinking of barley-laced ales during their set (well, really the entire night). Railroad Earth, Twiddle & More Tapped For Cabinet’s Susquehanna Breakdown FestivalRailroad Earth and Cabinet hit the PlayStation Theater in New York, NY on March 5th. For tickets and more information, be sure to head here.Railroad Earth – “Mighty River” from their OurVinyl Sessions:Cabinet “Celebration”, the title track of their 2015 studio album:Enter to Win Tickets:last_img read more

Senate bill should help keep heavy trucks off local roads

first_imgToday, the Senate passed a bill that encourages large commercial trucks to travel on Vermont’s interstate highways by reducing the penalty for overweight violations of the federal weight limit to one dollar.  In some cases, trucks that exceed the federal weight limit of 80,000 pounds on the interstate will avoid paying significant penalties by traveling on secondary roads.  With S93, An Act relating to Commercial Vehicle Operation on the Interstate System, those trucks are expected instead to stay on the interstates.  The bill received broad bipartisan support and was passed unanimously through all stages of passage.“The current system causes large commercial trucks to travel on our local state highways and through our downtowns,” said Senator Dick Mazza, Chair of the Senate Transportation Committee. “This traffic disrupts downtown business and damages our roads.”“In these difficult fiscal times we need to be doing everything we can to help our small local businesses,” said President Senate Pro Tem Peter Shumlin.  “This bill will relieve downtown traffic and improve the condition of our roads and bridges.”last_img read more

On Compliance: Anti-money laundering vigilance

first_img continue reading » 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr North Dade Community Development Federal Credit Union’s run-in with federal regulators and eventual demise over anti-money laundering violations offers a cautionary tale on the need for continued vigilance in complying with the Bank Secrecy Act and USA Patriot Act. In reporting its investigation and resulting $300,000 fine, the Financial Crimes Enforcement Network charged that the $3 million credit union had exposed the U.S. financial system to significant risks of money laundering and terrorist financing from high-risk countries in the Middle East and Central America.North Dade Community Development FCU was liquidated in 2015 by the National Credit Union Administration as a result of the violations. The credit union had been contracted to provide services to 56 money service businesses in high-risk areas. It handled almost $2 billion in financial transactions for those MSBs and in the process failed to comply with anti-money laundering and counter-terrorist financing obligations to verify clients, file reports, undertake risk assessments, report suspicious transactions and maintain robust controls to mitigate associated risks.This case serves as a warning to credit unions that they must monitor clients and related businesses rigorously and cannot rely on third parties to conduct due diligence and comply with AML requirements.last_img read more

The CUInsight Experience podcast: Mary Beth Spuck – Your authentic self (#75)

first_img 14SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Randall Smith Randall Smith is the co-founder of CUInsight.com, the host of The CUInsight Experience podcast, and a bit of a wanderlust.As one of the co-founders of CUInsight.com he … Web: www.CUInsight.com Details Thank you for tuning in to episode 75 of The CUInsight Experience podcast with your host, Randy Smith, co-founder of CUInsight.com. This episode is brought to you by our friends at PSCU. As the nation’s premier payments CUSO, PSCU proudly supports the success of more than 1,500 credit unions.While credit unions remain focused on safely providing much-needed services for their members, many leaders are beginning to think about how they can adapt their credit union to our rapidly changing world. On this week’s episode, I’m chatting with Mary Beth Spuck, President and CEO of Resource One Credit Union in Dallas, Texas, about some of the opportunities and service options that she and her team are thinking through, including an intriguing subscription-based fee model. Mary Beth and I discuss how she is putting her experience with the NCUF’s DE Program to good use helping her team think more holistically about their members, service channels, and cooperatives in general during this time. We also explore Mary Beth’s thoughts about member interactions post-COVID, potential changes to our current financial model, and her credit union’s above-and-beyond approach to service. In discussing her professional life, Mary Beth and I chat about why she took the position at Resource One Credit Union and how the inspiration has changed over the years. She reminds us to be authentic to ourselves, and shares how her network of mentors have helped her throughout her career. Mary Beth and I also talk about her new found love for biking when she has a day off and needs to recharge.During the rapid-fire questions portion of the show, Mary Beth tells us about a time she went  “hooky-bobbing” with a friend as a child. We also learn that she wanted to be a translator when she grew up, that she views her grandmother as the epitome of success, and that she’s trying to spend more time by the pool these days. This conversation was a blast for me! I hope you enjoy it! Subscribe on: Apple Podcasts, Spotify, Google Play, Stitcher Books mentioned on The CUInsight Experience podcast: Book List How to find Mary Beth:Mary Beth Spuck, President and CEO of Resource One Credit [email protected] | LinkedInShow notes from this episode:A big shout-out to our friends at PSCU, an amazing sponsor of The CUInsight Experience podcast. Thank you! Check out all the outstanding work that Mary Beth and her team at Resource One Credit Union are doing here. Learn more about the National Credit Union Foundation’s DE program here.Shout-out: Mary Beth’s husband, MichaelShout-out: Lois KitschShout-out: George OmbadoShout-out: Jim MorrellShout-out: Bill CheneyShout-out: Julie FergusonShout-out: Mary Beth’s son, JoshuaShout-out: Ann Richards, former Governor of TexasShout-out: Mary Beth’s fatherShout-out: Jill NowackiAlbum mentioned: Rumours by Fleetwood MacAlbum mentioned: Greatest Hits by the Steve Miller Band Book mentioned: The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter, Updated and Expanded by Michael WatkinsBook mentioned: The 4 Disciplines of Execution: Achieving Your Wildly Important Goals by Chris McChesney, Sean Covey, and Jim HulingShout-out: Mary Beth’s grandmother Previous guests mentioned in this episode: Lois Kitsch, George Ombado, Jim Morrell, Bill Cheney, Julie Ferguson, Jill Nowacki (episodes 4, 18, 37 & 64)You can find all past episodes of The CUInsight Experience here. In This Episode:[02:05] – Mary Beth, welcome to the show![03:18] – Mary Beth shares why DE is essential and how it benefits her credit union in Dallas.[05:40] – She speaks about what her credit union already had in place before the pandemic that helped them once everything was shut down.[07:08] – Do you think this crisis will affect how members interact with credit unions?[09:39] – Mary Beth shares what she believes needs to change for credit unions to remain relevant.[11:26] – Mary Beth speaks about what she will be most proud of having accomplished a year from now.[14:08] – What inspired you to take the job with Resource One Credit Union?[15:48] – Mary Beth shares how the inspiration has changed over the years.[17:13] – Nobody should be anywhere in their life where they are not 100% all-in, whether personally or professionally. [18:04] – Mary Beth says that she has learned over time to make tough decisions.[19:49] – Is there a common myth about leadership you want to debunk?[19:30] – Mary Beth shares a mistake she made when she first started and the ones she sees young leaders make today.[22:22] – Mary Beth speaks about her network of mentors and how important she believes they are to her career.[23:39] – Mary Beth shared a moment when she was full of self-doubt.[25:20] – She discusses what she does to unwind and recharge.[26:39] – What were you like in high school, and do you remember when you got into memorable trouble?[28:52] – Mary Beth chats that she wanted to be a translator or interpreter at NATO.[29:29] – She makes her bed every morning because if she doesn’t, her day feels off.[30:22] – What is the best album of all time?[31:32] – Do you have a book you believe everyone should read?[32:29] – Mary Beth says that family time has become more important, and a clean house has become less important.[33:20] – Mary Beth’s grandmother is the first to come to mind when she hears the word success.[35:15] – Do you have any final thoughts or asks for our listeners today?[36:23] – Thank you so much for being on the show today!last_img read more

Grow Binghamton 2020 plants the seeds to help the community

first_imgIts summer program, Grow Binghamton, does just that while involving the youth in the community. “We tried to make it outside this year, so we do a lot of our workshops here, which we normally do inside. And we’re trying to mainly stay here instead of traveling in the van together and being really close together,” said Townsend. “Day to day we usually do some farm work in the morning. That’s always farm maintenance, gardening, just growing vegetables and taking care of them really. Thursdays are our big harvest days for our CSA so that’s always a busy morning,” said VINES Youth Program Manager Hope Townsend. “I think VINES and Grow Binghamton specifically is really a constant in so many of our youth’s lives,” said Townsend. “I think it’s really beneficial not only for them to grow their own food, but see where the food goes and see where they can get involved in the community,” said Townsend. BINGHAMTON (WBNG) — VINES, or Volunteers Improving Neighborhood Environments, is committed to developing a community food system. The organization is still providing a place for kids to learn this summer while also allowing them to give back to their community. A significant part of Grow Binghamton is to help teens build life skills. While many summer programs were canceled this year due to the pandemic, it was important for this program to run. The teens involved are also growing and harvesting produce. Although changes were made for everyone’s safety, Grow Binghamton only has six teenagers involved this year, as opposed to the standard 25. “We do a lot of workshop stuff. They’re training us in leadership. We’re learning about financial literacy,” said participant Tayvia Wright. Grow Binghamton takes place at the Binghamton Urban Farm on Tudor Street. “I’ve grown up in Binghamton my whole life, so I’ve been around here a lot. I’ve seen things when we’re at our peak, and we’re at our lowest like during floods. So I can see how small things really affect people, so if I’m able to give something to my community to help out a little bit, it feels like I’m going a long way,” said Wright. VINES runs 18 community gardens throughout the greater Binghamton area.last_img read more