"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Wednesday, August 20, 2008

We should feel flattered.

Last week we posted Tuesday, August 12, 2008 Marine Wave Energy electricity generation - a painfully slow development - in which the Scots have a lead and now somebody kindly points out that the Sunday Times August 17th Wave power all at sea until tide turns by Richard Wilson covers the same territory and heavily emphasises Scots efforts in this area.

Uncannily like Sunday, March 19, 2006 Rupes Rags catch up on the Lottery scandal in which the Sunday Times had taken the stories about the Duke of Buccleuch's Buccleuch Energy Systems getting 1/2 Mn from the Lottery, Burbo Bank in Liverpool Bay wind farm collected £10Mn from a post Tuesday, October 25, 2005 Droit de seigneur

At least they are keeping up to date on latest developments.

PS : The Leonardo Da Vinci painting "Madonna with the Yarnwinder, "stolen from Drumlanrig Castle in a daring daylight raid in August 2003, claimed by the family to be worth £80 Mn,was recovered by Detective Chief Inspector Mickey Dalgleish in a daring raid in Glasgow.

This was one month after the 9th Duke died aged 83 although mysteriously it is now only worth US$60 Mn and apparently is one of several versions of the same scene painted between 1500 and 1510 and is probably a work of one of da Vinci's assistants. Let's hope the value wasn't overstated when they claimed on the insurance.

Buccleuch Bionergy have now also formed after a joint investment this June with Caledon Green, - Caledon Buccleuch Ltd., still happily selling on the Austrian Kohlbach wood chip fired boilers.

Caledon Green are an interesting new outfit started by leading property development expert Iain Wotherspoon. He also founded Kilmartin, one of Scotland’s biggest property firms who acquired the Amerdale Group in a deal that will result in a £100 million expansion into Europe in September 2007. Kilmartin will also acquire Amerdale’s London-based investment management fund.

In early 2007, Iain Wotherspoon sold 50% of Kilmartin to HBOS in a deal thought to value the company at £75 million. HBOS is a long-standing financial supporter of Kilmartin, which has a development programme worth £1.1 billion and has been a keen investor in commercial and residential property. Let's hope that HBOS whose shares are worth 25% of their market price in early 2007 made a good investment.

HBOS raised £4Bn but only 8% was taken up by shareholders ..."Having successfully obtained £4bn of fresh capital, this makes HBOS the best capitalized of any major UK bank and one of the best capitalized in Europe," said a spokesman.

Let's hope none of those massive writedowns involved Kilmartin or any of Mr Wotherspoon's extensive interests in Scotland.

1 comment:

Anonymous said...

yes "the internet is mightier than the sword"

if any newspaper guys should read this go get some integrity you cunts.

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish