The credit crunch and its effects
Obviously the credit crunch is big news if you’re a bank - ‘RBS firms up plan for a £12bn rights issue’ [Scotsman]. Equally obviously it has wider effects - ‘Pets at Home rules out float as sales of luxury fish tanks sink’ [FT].
But falls in specific sectors, however large, are just the cut and thrust of capitalist adjustment. A nation can have enough domestic aquaria. What everyone’s worried about is recession, when we all fall together, and the good go with the bad.
So how are things so far? What news from support services?
All good. Erinaceous and Johnson Service Group are dead and very ill, but you can’t blame Mervyn King for that. The good companies are looking good. The next CVJ will have the figures.
