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Clock a bargain in antique watches
Emma Wall explains how to invest in cartier chain love imitation the buoyant market for second hand watches and why steel timepieces can be worth more than gold
When Sotheby's held its first wristwatch sale in New York in 1980, it was a trial auction. After the success of the quartz watch, the mechanical type was on the decline and the market in second hand watches had not yet developed.
How wrong the sceptics were. Since that auction the market has continued to grow: Sotheby's sales in New York, Hong Kong and Geneva hit an all time high last year and sales in the first half of 2008 reached those for the whole of 2007. So much for the credit crisis.
Even in those early days, though, there were clear front runners in the market. Patek Philippe and Rolex dominated, and still do today. Although there are many differences between the makes style and production numbers being the most important the two manufacturers are as popular fake love cartier pendant now as they were 30 years ago.
While Rolex has a much larger modern production run, 800,000 a year to Patek's 50,000, vintage watches from these two brands, particularly from the 1920s to 1960s, are the most sought after and the most valuable.
When the second hand market began in the early 1980s, a Patek Philippe Perpetual Calendar sold for around $10,000 (about 5,000); now you wouldn't get much change from $350,000. This is not a market affected by economic turmoil the average watch collector is male and 35 to 65 years of age, with the cash to indulge his passions.
In fact Alexander Barter, a Sotheby's specialist, believes that anxiety in the financial industry has had a positive effect on the wristwatch market. "The extraordinary thing is that the market is very buoyant," he says. "My feeling is that clients are very reluctant to put their money in stocks and shares, and watches are a tangible asset."
Contrary to what you may assume, gold watches are not necessarily copy chain cartier love more valuable than steel ones. When people bought watches in the 1920s to 1940s they usually bought a special timepiece as a luxury item. The idea of the wristwatch as an indulgent purchase meant that they were traditionally cased in a precious metal. But now, as with all collectables, rarity defines price, and steel is the less common casing for many watch types.
Yellow gold is most common, followed by pink gold then white gold, with steel and platinum the rarest. In difficult economic times, such as after the Wall Street Crash in 1929 and in the period following the Second World War, watches were cased in steel because the price of gold was so high. Now, with sought after watches easily reaching 250,000 at auction, the base value of the metal is no longer relevant.
Barter gives an example: "A Reference 1518 Patek, a very complex hand wound watch from the 1940s which displays the day, date, month and has a stopwatch, was made in a limited run of 281 pieces. Most of these were in yellow gold and would reach around 100,000 in a sale today. Two or three of the watches were made in steel and would now be worth between 800,000 and 1.2m."
But watches' rarity value depends on more than their metal. Generally, the more complications a watch has, the more valuable it is. A complication is any function in addition to telling the time. Complications include displaying the date, day and month; with the addition of a stopwatch function the timepiece is known as a chronograph.
While it is always advisable to buy something only if you really like it, there is no denying the financial returns possible in the watch market. In the past 20 years Patek Philippe and Rolex watches have outperformed a number of other investment sectors and there has been a surge in new buyers entering the market recently, particularly from Asia, which makes for a promising future.
The typical watch collector being male, there is a gap in the market for female vintage watches. You can buy a female vintage watch, even from the more sought after brands, for a fraction of the price of the male version. Their relative cheapness makes them a good investment opportunity as experts believe they will grow in popularity in the future with the rest of the market.
Other investment opportunities in the market lie in bucking fashion trends. Particularly popular at the moment are large round faced gold watches, so it is advisable to pick up a piece with a square or barrel shaped face now in the hope of future appreciation when fashion changes. Lot 73 in the Sotheby's sale on Wednesday, a 1938 Patek Philippe yellow gold rectangular wristwatch with a 3,000 5,000 estimate, is a good example of this.
Lot 91 in the same sale, another Patek, is a particularly fine example of a wristwatch. Although with a higher estimate of 12,000 18,000, this limited edition, pink gold, barrel faced watch is a "jump hour" timepiece, meaning that it has only one hand, the minute hand, and displays the hour in an aperture.
While the market is dominated by Patek and Rolex, there are other brands that perform well at auction and are worth having valued before arranging contents insurance. Cartier, well known for producing luxury goods, does well, particularly copy cartier mens jewelry its watches from the 1920s to 1950s.
The less well known Audemars Piguet is also particularly sought after; its watches from 1920 to 1960 are the most popular.
There is also demand for products from independent watchmakers such as FP Journe, who makes all his own movements and has unusual complications. His design layout is unique and quite different from traditional makers and he does well in a niche market.
It is difficult to predict how independents will fare in the future, however, as they are relatively new to the market by comparison with the big brands.
As with any vintage item, it is important to ensure that any watch you buy is in good condition. Scratched glass can be replaced without too much loss in value, while the crown which you turn to adjust or wind the watch and can often get quite worn can also be replaced, although this can affect the working of the watch. Over polishing can wear down angular watches, changing the shape of the setting, which can result in a loss of value.
The good news is that Patek will always restore and repair any watch it has ever made; for other brands watch repairer Steven Hale of SHWR (33 St George Street, London W1) will make the part you need himself if he can't source it elsewhere.
If you do decide to invest in a watch, always ask for a certificate of authenticity and a history of any restorative work. If you want to know the value of a watch you already own, the in house specialists at an auction house will value it free of charge.in regards to cartier bracelet stainless steel screw knockoff up-to-date mode Administrivia suggest give
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Emma Wall explains how to invest in cartier chain love imitation the buoyant market for second hand watches and why steel timepieces can be worth more than gold
When Sotheby's held its first wristwatch sale in New York in 1980, it was a trial auction. After the success of the quartz watch, the mechanical type was on the decline and the market in second hand watches had not yet developed.
How wrong the sceptics were. Since that auction the market has continued to grow: Sotheby's sales in New York, Hong Kong and Geneva hit an all time high last year and sales in the first half of 2008 reached those for the whole of 2007. So much for the credit crisis.
Even in those early days, though, there were clear front runners in the market. Patek Philippe and Rolex dominated, and still do today. Although there are many differences between the makes style and production numbers being the most important the two manufacturers are as popular fake love cartier pendant now as they were 30 years ago.
While Rolex has a much larger modern production run, 800,000 a year to Patek's 50,000, vintage watches from these two brands, particularly from the 1920s to 1960s, are the most sought after and the most valuable.
When the second hand market began in the early 1980s, a Patek Philippe Perpetual Calendar sold for around $10,000 (about 5,000); now you wouldn't get much change from $350,000. This is not a market affected by economic turmoil the average watch collector is male and 35 to 65 years of age, with the cash to indulge his passions.
In fact Alexander Barter, a Sotheby's specialist, believes that anxiety in the financial industry has had a positive effect on the wristwatch market. "The extraordinary thing is that the market is very buoyant," he says. "My feeling is that clients are very reluctant to put their money in stocks and shares, and watches are a tangible asset."
Contrary to what you may assume, gold watches are not necessarily copy chain cartier love more valuable than steel ones. When people bought watches in the 1920s to 1940s they usually bought a special timepiece as a luxury item. The idea of the wristwatch as an indulgent purchase meant that they were traditionally cased in a precious metal. But now, as with all collectables, rarity defines price, and steel is the less common casing for many watch types.
Yellow gold is most common, followed by pink gold then white gold, with steel and platinum the rarest. In difficult economic times, such as after the Wall Street Crash in 1929 and in the period following the Second World War, watches were cased in steel because the price of gold was so high. Now, with sought after watches easily reaching 250,000 at auction, the base value of the metal is no longer relevant.
Barter gives an example: "A Reference 1518 Patek, a very complex hand wound watch from the 1940s which displays the day, date, month and has a stopwatch, was made in a limited run of 281 pieces. Most of these were in yellow gold and would reach around 100,000 in a sale today. Two or three of the watches were made in steel and would now be worth between 800,000 and 1.2m."
But watches' rarity value depends on more than their metal. Generally, the more complications a watch has, the more valuable it is. A complication is any function in addition to telling the time. Complications include displaying the date, day and month; with the addition of a stopwatch function the timepiece is known as a chronograph.
While it is always advisable to buy something only if you really like it, there is no denying the financial returns possible in the watch market. In the past 20 years Patek Philippe and Rolex watches have outperformed a number of other investment sectors and there has been a surge in new buyers entering the market recently, particularly from Asia, which makes for a promising future.
The typical watch collector being male, there is a gap in the market for female vintage watches. You can buy a female vintage watch, even from the more sought after brands, for a fraction of the price of the male version. Their relative cheapness makes them a good investment opportunity as experts believe they will grow in popularity in the future with the rest of the market.
Other investment opportunities in the market lie in bucking fashion trends. Particularly popular at the moment are large round faced gold watches, so it is advisable to pick up a piece with a square or barrel shaped face now in the hope of future appreciation when fashion changes. Lot 73 in the Sotheby's sale on Wednesday, a 1938 Patek Philippe yellow gold rectangular wristwatch with a 3,000 5,000 estimate, is a good example of this.
Lot 91 in the same sale, another Patek, is a particularly fine example of a wristwatch. Although with a higher estimate of 12,000 18,000, this limited edition, pink gold, barrel faced watch is a "jump hour" timepiece, meaning that it has only one hand, the minute hand, and displays the hour in an aperture.
While the market is dominated by Patek and Rolex, there are other brands that perform well at auction and are worth having valued before arranging contents insurance. Cartier, well known for producing luxury goods, does well, particularly copy cartier mens jewelry its watches from the 1920s to 1950s.
The less well known Audemars Piguet is also particularly sought after; its watches from 1920 to 1960 are the most popular.
There is also demand for products from independent watchmakers such as FP Journe, who makes all his own movements and has unusual complications. His design layout is unique and quite different from traditional makers and he does well in a niche market.
It is difficult to predict how independents will fare in the future, however, as they are relatively new to the market by comparison with the big brands.
As with any vintage item, it is important to ensure that any watch you buy is in good condition. Scratched glass can be replaced without too much loss in value, while the crown which you turn to adjust or wind the watch and can often get quite worn can also be replaced, although this can affect the working of the watch. Over polishing can wear down angular watches, changing the shape of the setting, which can result in a loss of value.
The good news is that Patek will always restore and repair any watch it has ever made; for other brands watch repairer Steven Hale of SHWR (33 St George Street, London W1) will make the part you need himself if he can't source it elsewhere.
If you do decide to invest in a watch, always ask for a certificate of authenticity and a history of any restorative work. If you want to know the value of a watch you already own, the in house specialists at an auction house will value it free of charge.
then axed 87 without pay 14 days later
Acuman Services Management workers in Swords said they were "shocked and bitterly disappointed" to discover their jobs were being axed just days after the cartier mens jewelry replica positive e mail was circulated.That e mail, issued on October 10 by director Wilton Farrelly, said the firm had recruited new staff, revamped its structures and begun special training to help grow the operation."Just a quick update e mail to keep you informed about the exciting love bracelets for her replica developments that have happened in Acuman over the last number of weeks.," it read."Our work together between our businesses has only just started and I appreciate the support and enthusiasm that everyone has shown to date.""We are all looking forward to continuing to develop and grow our business."The Swords based firm provided corporate support to other companies and clients included Bus Eireann, Asda and TK Maxx.A subsidiary of Belfast based H Martin, replica cartier love white gold bracelet it closed last Friday with the loss of all 87 jobs.Tom Kavanagh of Deloitte has now been appointed as liquidator."The news that the firm was going into liquidation came out of the blue it was a total shock," Maria Clarke told the Herald."We had absolutely no inkling that Acuman was going to close. There is one girl here who left a job of eight years to join the firm at the end of September. She hasn't even been paid yet," she said.Some staff have been with the firm for almost 10 years.Maria said it was particularly disappointing that the closure was confirmed on Friday when only a skeleton staff were present due to the Bank Holiday weekend.She claimed some employees are still awaiting formal notification that their jobs are gone.The October payroll has not been issued and workers have no idea if they will ever receive wages for their work this month up to the firm's closure.Another employee, Sarah Skeffington, said staff felt they had been treated in an insulting fashion and left without a job and income just weeks before Christmas."It is a terrible way to treat a loyal and dedicated workforce," she said."People are very upset over the way in which the whole thing was handled. Workers here depended on those wages."Acuman Facilities Management was established in 1997 before being acquired by the H Martin Group in 2009.H Martin, which was founded in 1840, said it had invested in the company during the economic downturn and restructured senior management.Belfast based director Wilton Farrelly was out of the office and could not be contacted by the Herald. A company spokesman declined to comment on the October 10 e mail.H Martin said they had decided to appoint a liquidator because Acuman was "unsustainable and unable to continue trading"."The appointment of a liquidator to Acuman Facilities Management is regrettably unavoidable given the collapse of the business's finances in recent years," Derek Martin, joint managing director, said."Despite significant investment of over 2m ( in the business by its parent company and a recent restructuring of its senior management, the business is simply not economically viable."Belfast Telegraph economist John Simpson revealed earlier this year that annual turnover at H Martin had nearly doubled in the last six reported years. Following a fall in turnover in 2006, there had been a series of year on year increases until the total stabilised in 2012.The company has worked on high profile projects including the construction of a media centre for the London Olympics gold love bangle and refurbishment of the Guildhall and Ebrington Barracks for Derry's 2013 City of Culture.in relation to cartier bracelet plating gold nail imitation
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Acuman Services Management workers in Swords said they were "shocked and bitterly disappointed" to discover their jobs were being axed just days after the cartier mens jewelry replica positive e mail was circulated.That e mail, issued on October 10 by director Wilton Farrelly, said the firm had recruited new staff, revamped its structures and begun special training to help grow the operation."Just a quick update e mail to keep you informed about the exciting love bracelets for her replica developments that have happened in Acuman over the last number of weeks.," it read."Our work together between our businesses has only just started and I appreciate the support and enthusiasm that everyone has shown to date.""We are all looking forward to continuing to develop and grow our business."The Swords based firm provided corporate support to other companies and clients included Bus Eireann, Asda and TK Maxx.A subsidiary of Belfast based H Martin, replica cartier love white gold bracelet it closed last Friday with the loss of all 87 jobs.Tom Kavanagh of Deloitte has now been appointed as liquidator."The news that the firm was going into liquidation came out of the blue it was a total shock," Maria Clarke told the Herald."We had absolutely no inkling that Acuman was going to close. There is one girl here who left a job of eight years to join the firm at the end of September. She hasn't even been paid yet," she said.Some staff have been with the firm for almost 10 years.Maria said it was particularly disappointing that the closure was confirmed on Friday when only a skeleton staff were present due to the Bank Holiday weekend.She claimed some employees are still awaiting formal notification that their jobs are gone.The October payroll has not been issued and workers have no idea if they will ever receive wages for their work this month up to the firm's closure.Another employee, Sarah Skeffington, said staff felt they had been treated in an insulting fashion and left without a job and income just weeks before Christmas."It is a terrible way to treat a loyal and dedicated workforce," she said."People are very upset over the way in which the whole thing was handled. Workers here depended on those wages."Acuman Facilities Management was established in 1997 before being acquired by the H Martin Group in 2009.H Martin, which was founded in 1840, said it had invested in the company during the economic downturn and restructured senior management.Belfast based director Wilton Farrelly was out of the office and could not be contacted by the Herald. A company spokesman declined to comment on the October 10 e mail.H Martin said they had decided to appoint a liquidator because Acuman was "unsustainable and unable to continue trading"."The appointment of a liquidator to Acuman Facilities Management is regrettably unavoidable given the collapse of the business's finances in recent years," Derek Martin, joint managing director, said."Despite significant investment of over 2m ( in the business by its parent company and a recent restructuring of its senior management, the business is simply not economically viable."Belfast Telegraph economist John Simpson revealed earlier this year that annual turnover at H Martin had nearly doubled in the last six reported years. Following a fall in turnover in 2006, there had been a series of year on year increases until the total stabilised in 2012.The company has worked on high profile projects including the construction of a media centre for the London Olympics gold love bangle and refurbishment of the Guildhall and Ebrington Barracks for Derry's 2013 City of Culture.
Where the battle for financial reform was lost
That said, the response to the Egyptian crisis from Davos person world leaders from government, business and civil society was fast and coherent: President Mubarak was left in little doubt that he is an isolated figure, who would be spurned by the global elite unless he listens to the voice of his people.
But what about when crises abate, and we're left with the hard choices about how to make the world safe again for a generation? As you'll have guessed, in this instance I am talking about two of my obsessions: how to mend the banking and financial systems; and how to fix the eurozone.
Here, some would argue, Davos shows all the flaws in the world's system of governance for issues of significance for the entire world. Because as the great crash of 2008 has become a hateful memory rather than hard painful reality, and as there are signs of strengthening recovery in the US still the world's biggest and most important economy the voice of reform is increasingly drowned out by the voice of those claiming that everything is broadly okay again and time will be the greatest healer.
Two contrasting synopses of where we are: "The boom is back" said one of the world's more powerful bank bosses; "We're beginning to lose the battle for change", said an influential regulator.
Those two statements are connected: the more that some kind of apparent "normality" returns to economic life, the more that politicians fear a return to recession caused by the short term effects of further measures to strengthen banks (for example).
It's this tension between short term prosperity and long term stability which could bring the reform train to a grinding permanent halt.
In that context, two of my conversations with decision makers stand out.
First, a senior member of the French government told me that President Sarkozy would oppose any capital surcharge on Globally Significant Financial Institutions, or the mega banks.
The French reject the need to require the largest banks to hold more capital as a protection against potential losses than other banks even though many central bankers and regulators now accept that the enormous interconnected balance sheets of the copy cartier love ring pink gold mega banks are the San Andreas fault of the financial system and global economy.
Why does the French government oppose any requirement on the biggest banks to hold more capital than the new Basel minimum? Well it's because giant eurozone banks are warning that if they have to increase the ratio of their capital to their loans and investments further than they're already being required to do, the likelihood is that they'll do this by restricting how much they lend thus snuffing out anaemic eurozone recovery.
And an alternative for eurozone governments of their taxpayers injecting capital into eurozone banks to strengthen them is profoundly unappealing to most governments especially at a time when some of these governments are struggling to fund and reduce fiscal deficits. That said, if eurozone banks were better capitalised, arguably investors would be less reluctant to finance not only those banks but the states standing behind the banks (though few eurozone ministers quite yet see how intimately connected is the perceived weakness of eurozone banks and the eurozone itself).
So why does opposition to a mega bank capital surcharge from the government of a medium size economy like France actually matter? Well it's because agreement on a capital surcharge can only be reached if all the G20 countries sign up for it. And that looks highly unlikely, especially with France as current chair copy cartier love ring for men of the G20, able to control the agenda and priorities for the world's most powerful decision making collective.
Now the second conversation that resonated most for me was with the head of one of these globally significant financial institutions. He was musing on the possible implications of any kind of attempt to forcibly separate investment banking from retail banking, either by the explicit break up of universal banks or a requirement that universal banks (like his) put all their investment banking operations into discrete, separately capitalised subsidiaries.
What he said was that it was all very well for the UK's Independent Banking Commission to muse on the theoretical benefits of such separation of retail and investment banking, but the Commission was not on planet Earth: the interconnection of retail and investment banking is now so intense, thorough and complex that it would be impossible to unscramble.
There are two aspects to this. First, that it would be pointless for the British government to unilaterally mandate such separation, because a bank like his would simply transfer all its international investment banking out of the City of London to operations elsewhere in the world.
Second, and more importantly, such separation would be a legal, logistical and economic nightmare.
Well, hundreds of billions of dollars have been lent to mega banks like his on terms and at interest rates that were set on the basis that the loans were to the bank as a whole, not to just the investment banking part or the retail banking part.
So if the bank were split up, all of those borrowing agreements would have to be renegotiated an almost impossible task, which would take years and enrich only the legal profession.
And, what's worse, the uncertainties created by the renegotiation could well lead to a funding freeze for all universal banks subject to the new stipulation that retail and investment banking should be separated. Which at best would prevent these banks from lending and at worst would bankrupt them.
So let's think about this for a moment. How likely is it that the Chancellor George Osborne would wish to call the bluff of Barclays, HSBC and RBS by ordering that they put an unimpeachable legal wall between their investment banks and retail banks, against their advice that to do so would risk destroying them and the British economy?
The chancellor could decide that the appropriate response to any recommendation from the Banking Commission for separation of retail and investment banking would be to argue for this in the G20 and at the EU Economic and Financial Affairs Council. But given that unease with the structure of universal banks appears to be a largely British pre occupation, that would probably be to consign this kind of organisational and formal change in banking to the dustbin of history.
Perhaps I am mistaken. But I made my meandering escape from Davos largely persuaded that those arguing for a radical overhaul of the global banking system may already have lost the war.
Complain about this comment (Comment number 1)
Comment number 2. At 11:27 31st Jan 2011, John_from_Hendon wrote: Robert, In the real world reform of regulation and banking is vital. Indeed as whole World know knows that the old (and present) system is both corrupt and incapable of avoiding continuous collapse and deeper recession and depression reform will take place that is the nature of the free market. The market will force reform and the governments will be dragged kicking and screaming along.
David Cameron, George Osborn, Ed Miliband and Ed Balls will be unable to resist the changes that will impact on their friends in the City and at the Bank. Mervyn King and his old guard are past their sell by date and must go as must the head of HM Treasury. The reason is that there is replica cartier love ring pink gold no trust in the present system and without trust there can be no stability and hence reform must occur. Unless the people are changed, just as in Egypt, than can be no stability.
Complain about this comment (Comment number 2)
Comment number 3. At 11:52 31st Jan 2011, pietr8 wrote: I have said it before and now I'm proved correct; the banks are a lot more clever than the politicians and can run rings round them; and now, gold cartier love imitation ring it seems, the regulators as well.in regards to cartier ring plating copper nail replica up to
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That said, the response to the Egyptian crisis from Davos person world leaders from government, business and civil society was fast and coherent: President Mubarak was left in little doubt that he is an isolated figure, who would be spurned by the global elite unless he listens to the voice of his people.
But what about when crises abate, and we're left with the hard choices about how to make the world safe again for a generation? As you'll have guessed, in this instance I am talking about two of my obsessions: how to mend the banking and financial systems; and how to fix the eurozone.
Here, some would argue, Davos shows all the flaws in the world's system of governance for issues of significance for the entire world. Because as the great crash of 2008 has become a hateful memory rather than hard painful reality, and as there are signs of strengthening recovery in the US still the world's biggest and most important economy the voice of reform is increasingly drowned out by the voice of those claiming that everything is broadly okay again and time will be the greatest healer.
Two contrasting synopses of where we are: "The boom is back" said one of the world's more powerful bank bosses; "We're beginning to lose the battle for change", said an influential regulator.
Those two statements are connected: the more that some kind of apparent "normality" returns to economic life, the more that politicians fear a return to recession caused by the short term effects of further measures to strengthen banks (for example).
It's this tension between short term prosperity and long term stability which could bring the reform train to a grinding permanent halt.
In that context, two of my conversations with decision makers stand out.
First, a senior member of the French government told me that President Sarkozy would oppose any capital surcharge on Globally Significant Financial Institutions, or the mega banks.
The French reject the need to require the largest banks to hold more capital as a protection against potential losses than other banks even though many central bankers and regulators now accept that the enormous interconnected balance sheets of the copy cartier love ring pink gold mega banks are the San Andreas fault of the financial system and global economy.
Why does the French government oppose any requirement on the biggest banks to hold more capital than the new Basel minimum? Well it's because giant eurozone banks are warning that if they have to increase the ratio of their capital to their loans and investments further than they're already being required to do, the likelihood is that they'll do this by restricting how much they lend thus snuffing out anaemic eurozone recovery.
And an alternative for eurozone governments of their taxpayers injecting capital into eurozone banks to strengthen them is profoundly unappealing to most governments especially at a time when some of these governments are struggling to fund and reduce fiscal deficits. That said, if eurozone banks were better capitalised, arguably investors would be less reluctant to finance not only those banks but the states standing behind the banks (though few eurozone ministers quite yet see how intimately connected is the perceived weakness of eurozone banks and the eurozone itself).
So why does opposition to a mega bank capital surcharge from the government of a medium size economy like France actually matter? Well it's because agreement on a capital surcharge can only be reached if all the G20 countries sign up for it. And that looks highly unlikely, especially with France as current chair copy cartier love ring for men of the G20, able to control the agenda and priorities for the world's most powerful decision making collective.
Now the second conversation that resonated most for me was with the head of one of these globally significant financial institutions. He was musing on the possible implications of any kind of attempt to forcibly separate investment banking from retail banking, either by the explicit break up of universal banks or a requirement that universal banks (like his) put all their investment banking operations into discrete, separately capitalised subsidiaries.
What he said was that it was all very well for the UK's Independent Banking Commission to muse on the theoretical benefits of such separation of retail and investment banking, but the Commission was not on planet Earth: the interconnection of retail and investment banking is now so intense, thorough and complex that it would be impossible to unscramble.
There are two aspects to this. First, that it would be pointless for the British government to unilaterally mandate such separation, because a bank like his would simply transfer all its international investment banking out of the City of London to operations elsewhere in the world.
Second, and more importantly, such separation would be a legal, logistical and economic nightmare.
Well, hundreds of billions of dollars have been lent to mega banks like his on terms and at interest rates that were set on the basis that the loans were to the bank as a whole, not to just the investment banking part or the retail banking part.
So if the bank were split up, all of those borrowing agreements would have to be renegotiated an almost impossible task, which would take years and enrich only the legal profession.
And, what's worse, the uncertainties created by the renegotiation could well lead to a funding freeze for all universal banks subject to the new stipulation that retail and investment banking should be separated. Which at best would prevent these banks from lending and at worst would bankrupt them.
So let's think about this for a moment. How likely is it that the Chancellor George Osborne would wish to call the bluff of Barclays, HSBC and RBS by ordering that they put an unimpeachable legal wall between their investment banks and retail banks, against their advice that to do so would risk destroying them and the British economy?
The chancellor could decide that the appropriate response to any recommendation from the Banking Commission for separation of retail and investment banking would be to argue for this in the G20 and at the EU Economic and Financial Affairs Council. But given that unease with the structure of universal banks appears to be a largely British pre occupation, that would probably be to consign this kind of organisational and formal change in banking to the dustbin of history.
Perhaps I am mistaken. But I made my meandering escape from Davos largely persuaded that those arguing for a radical overhaul of the global banking system may already have lost the war.
Complain about this comment (Comment number 1)
Comment number 2. At 11:27 31st Jan 2011, John_from_Hendon wrote: Robert, In the real world reform of regulation and banking is vital. Indeed as whole World know knows that the old (and present) system is both corrupt and incapable of avoiding continuous collapse and deeper recession and depression reform will take place that is the nature of the free market. The market will force reform and the governments will be dragged kicking and screaming along.
David Cameron, George Osborn, Ed Miliband and Ed Balls will be unable to resist the changes that will impact on their friends in the City and at the Bank. Mervyn King and his old guard are past their sell by date and must go as must the head of HM Treasury. The reason is that there is replica cartier love ring pink gold no trust in the present system and without trust there can be no stability and hence reform must occur. Unless the people are changed, just as in Egypt, than can be no stability.
Complain about this comment (Comment number 2)
Comment number 3. At 11:52 31st Jan 2011, pietr8 wrote: I have said it before and now I'm proved correct; the banks are a lot more clever than the politicians and can run rings round them; and now, gold cartier love imitation ring it seems, the regulators as well.
Study Abroad at the University of Winchester
Application deadlines are provided below.
Please note: students from American partner universities (including visiting students from these universities) do not need to completethe HousingRequest Form as a part of their application. All otherstudents who require University Managed Housing will need to complete a Housing Request Form.
Allstudentsmust be 2.8 minimum Grade Point Average (GPA) or equivalent.
Students whose first language is not English must submitevidence of their English language competence with their application. A list of suitable evidence is provided below, students need only submit oneof the following:
IELTS: minimum overall score of 6, including 6 in academic writingor TOEF IBT 80 (19 in writing).
an overseas GCE O level in English language at Grade A C or equivalent qualificationIndicative Fees for 2017/18are as shown. Whilst the inflationary fee increases in tuition fees have been announced by the Minister, they are still subject to formal parliamentary approval and the approval of The University of Winchester Board of Governors. International fees are still subject to approval from the University of Winchester Board of Governors.
Students visiting for one semester: USA visiting students
Please ensure payment is received before your arrival date. Payment can be paid in two instalments if this is helpful; the first instalment before you arrive and the second at enrolment.
If your home university pays on your behalf, aninvoice will be posted to them a few months before your arrival date.
Students staying for one semester: Erasmus
No tuition fees are payable.
Students staying for one semester: EU or other overseas visiting students
Please ensure payment is received before your arrival date. Payment can be paid in two instalments if this knock off cartier love ring for men is helpful; the first instalment before you arrive and the second at enrolment.
Students staying for whole academic year: EU, US and other overseas visiting students
The payment deadline for full payment is 13 October 2017.
If you wish to pay in three instalments by the University's preferred payment method the three instalments are 13 October 2017, 19 January 2018 and 11 May 2018.
Students who pay tuition fees will be emailed with further informationregarding how tomake payments. This cartier white gold imitation ring information will be sent outshortly after you have received your acceptance letter.
Students visiting for one semester
An invoice will besent to you a few months before your arrival. Please ensure payment is received before your arrival date. Payment can be paid fake cartier marriage ring in two instalments if this is helpful; the first instalment beforeyou arriveand the second at enrolment.
Students staying for whole academic year
The payment deadline for full payment is 13 October 2017.
If you wish to pay in three instalments by the University's preferred payment method the three imitation cartier love ring for men instalments are 13 October 2017, 19 January 2018 and 11 May 2018.
Do you need a visa?Detailed informationon the regulations around entry to the UK can be found on the UK Visas and Immigration website (part of the Home Office).in relation to cartier necklace plating copper nail knockoff The latest mode magazine introduce give
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Application deadlines are provided below.
Please note: students from American partner universities (including visiting students from these universities) do not need to completethe HousingRequest Form as a part of their application. All otherstudents who require University Managed Housing will need to complete a Housing Request Form.
Allstudentsmust be 2.8 minimum Grade Point Average (GPA) or equivalent.
Students whose first language is not English must submitevidence of their English language competence with their application. A list of suitable evidence is provided below, students need only submit oneof the following:
IELTS: minimum overall score of 6, including 6 in academic writingor TOEF IBT 80 (19 in writing).
an overseas GCE O level in English language at Grade A C or equivalent qualificationIndicative Fees for 2017/18are as shown. Whilst the inflationary fee increases in tuition fees have been announced by the Minister, they are still subject to formal parliamentary approval and the approval of The University of Winchester Board of Governors. International fees are still subject to approval from the University of Winchester Board of Governors.
Students visiting for one semester: USA visiting students
Please ensure payment is received before your arrival date. Payment can be paid in two instalments if this is helpful; the first instalment before you arrive and the second at enrolment.
If your home university pays on your behalf, aninvoice will be posted to them a few months before your arrival date.
Students staying for one semester: Erasmus
No tuition fees are payable.
Students staying for one semester: EU or other overseas visiting students
Please ensure payment is received before your arrival date. Payment can be paid in two instalments if this knock off cartier love ring for men is helpful; the first instalment before you arrive and the second at enrolment.
Students staying for whole academic year: EU, US and other overseas visiting students
The payment deadline for full payment is 13 October 2017.
If you wish to pay in three instalments by the University's preferred payment method the three instalments are 13 October 2017, 19 January 2018 and 11 May 2018.
Students who pay tuition fees will be emailed with further informationregarding how tomake payments. This cartier white gold imitation ring information will be sent outshortly after you have received your acceptance letter.
Students visiting for one semester
An invoice will besent to you a few months before your arrival. Please ensure payment is received before your arrival date. Payment can be paid fake cartier marriage ring in two instalments if this is helpful; the first instalment beforeyou arriveand the second at enrolment.
Students staying for whole academic year
The payment deadline for full payment is 13 October 2017.
If you wish to pay in three instalments by the University's preferred payment method the three imitation cartier love ring for men instalments are 13 October 2017, 19 January 2018 and 11 May 2018.
Do you need a visa?Detailed informationon the regulations around entry to the UK can be found on the UK Visas and Immigration website (part of the Home Office).
Media Musings Blog Archive Did Instagram kill the editor star
In replica rose gold cartier love ring the wake of New York and London subsequent fashion weeks, some critics believe so.
Weareseeing bloggers take front row seats at shows, while former publishing superpowersbattle againstdwindling circulation figures.
These social media statistics from NYFW are enough to show just how integral this online voice has become in the cartier rings imitation for women curation and circulation of fashion news.
For a traditional media company to maintain relevance and rose gold cartier knock off ring engagement in this online flood they need to listen.
The fashion media audience has never been so discerning or demanding, so it is essential thatmedia skills and models are reinvented to respond to this.
Yes, the climate is hard but as is the nature of natural selection, only thesavvy, the adaptableand the evolutionary mindedwill survive.
The thing about bloggers and social media usersis that they beauty of the democratic nature ofonline, is that many of these self published media mogulsare determined, relentless and dedicated to their owncause.
There is no off for the commited blogger and in the context of the 24 hour news cycle, this is what is key to maintaining relevancy.
Brutal? Perhaps. But fashion is pain.
It is a media companies inability to evolve and repond to new technologies which is really bringing them down.
We only need to look at the axing of Kristie Klements from Vogue Australia, earlier this year. She was replaced by her arch rival, editor of Harpers Bazarr, Erica Mccann, who was in retrospect for the role due to her insight into launching the Harper Bazaar Style Network last year,hosting six of Australia top fashion bloggers. Meanwhile, Savvy media companys like Oyster cartier love ring diamonds knock off show us how to integrate the platforms.in relation to cartier necklace white gold leve fake up to the minute trend press introduce announcement
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In replica rose gold cartier love ring the wake of New York and London subsequent fashion weeks, some critics believe so.
Weareseeing bloggers take front row seats at shows, while former publishing superpowersbattle againstdwindling circulation figures.
These social media statistics from NYFW are enough to show just how integral this online voice has become in the cartier rings imitation for women curation and circulation of fashion news.
For a traditional media company to maintain relevance and rose gold cartier knock off ring engagement in this online flood they need to listen.
The fashion media audience has never been so discerning or demanding, so it is essential thatmedia skills and models are reinvented to respond to this.
Yes, the climate is hard but as is the nature of natural selection, only thesavvy, the adaptableand the evolutionary mindedwill survive.
The thing about bloggers and social media usersis that they beauty of the democratic nature ofonline, is that many of these self published media mogulsare determined, relentless and dedicated to their owncause.
There is no off for the commited blogger and in the context of the 24 hour news cycle, this is what is key to maintaining relevancy.
Brutal? Perhaps. But fashion is pain.
It is a media companies inability to evolve and repond to new technologies which is really bringing them down.
We only need to look at the axing of Kristie Klements from Vogue Australia, earlier this year. She was replaced by her arch rival, editor of Harpers Bazarr, Erica Mccann, who was in retrospect for the role due to her insight into launching the Harper Bazaar Style Network last year,hosting six of Australia top fashion bloggers. Meanwhile, Savvy media companys like Oyster cartier love ring diamonds knock off show us how to integrate the platforms.
The Art Of Louis Ritman Comes To Chicago
Q Where can I find background information on paintings by Louis Ritman?
Im especially interested in his early paintings of fashionable ladies dating from the first quarter of the 20th Century.
A Louis Ritman From Chicago to Giverny: How Louis Ritman Was Influenced by Lawton Parker and Other Midwestern Impressionists, by Richard H. Love, is available for $65 plus $4 shipping (Illinois residents add $4.55 sales tax). Order from Haas Mumm Publishing Co. Inc., 100 E. Ohio St., Chicago, Ill. 60611; 312 664 9620. May 12 at the ExpoCenter, 350 N. Orleans St. Admission is $12; students and seniors, $7. May 10. The shows 200 page color catalog is $12.
Q I collect antique jewelry shaped like reptiles, including iguanas, alligators, dragons and serpents. next Sunday at the OHare Expo Center, 5555 N. River Rd., Rosemont. Admission is $5.
Reptile jewelry has long been a favorite with collectors; some believe such pieces bring good luck. Antique pieces shaped like various animals, birds and insects are in the 979 page Official Indentification and Price Guide to Antique Jewelry, by Arthur Guy Kaplan, available for $21.95 postpaid from House of Collectibles, 201 E. 10022; call
800 733 3000 to order.
Magnificent reptile pieces produced by Cartier include a diamond studded snake necklace and a gold alligator neckpiece encrusted with diamonds, emeralds and eyes of rubies made for Maria Felix, a Mexican film actress. 10022.
Reflections of Cartier: The Art Deco Years is a must exhibit for jewelry collectors. Mondays though Saturdays through May 8 at Cartier, 630 N. Michigan Ave.; phone 312 266 7440.
Q Where can I find old radiator caps? Im especially interested in figural ones. Highway 45, turn west on Center Street). Admission is $3; free for children under 12. To show or sell cars made in 1966 and earlier, phone 708 948 8008.
Ed Schwartz will have a booth selling radiator caps at the meet. Or write to Old Car and Gas Station Memorabila Wanted and cartier love ring diamonds copy for Sale, Box 173, Deerfield, Ill. 60015.
If you want to sell an item, enclose a description of it and an addressed, stamped envelope for a reply.
Youll also find sources in the bimonthly Check the Oil magazine, available for $16 a cartier white gold love knock off ring year, or $3.50 for a sample issue, from the International Petroliana Collectors Association, Box 1000, Westerville, Ohio 43081.
Q I recently started collecting glass toothpick holders. How can I learn more about them and their values?
A You can find out everything you ever wanted to know about toothpick holders by joining the National Toothpick Holders Collectors Society. It offers an individual annual membership and monthly Toothpick Bulletin for $10 (or $15 for two collectors). Write to Joyce Ender, treasurer, Red Arrow Highway, Box 246, Sawyer, Mich. 49125. Two books on toothpick holders are available: 1,000 Toothpick Holders with Price Guide and Rare and Unlisted Toothpick Holders with Price Guide. Both are $15.45 postpaid from Antique Publications, Box 553, Marietta, Ohio 45750; 800 533 3433.
Q I recently started collecting old milk bottles and want to learn more about them. Is there a book on the subject, and where can cartier copy ring box I find unusual examples?
Milk bottle collectors subscribe to the Milk Route (the monthly publication of the National Association of Milk Bottle Collectors), which costs $15 a year or $2 for a back issue. Write to the association at 4 Ox Bow Rd., Westport, Conn. 06880.
The quarterly newsletter Creamers (those little bottles that once copy cartier love ring diamonds held cream in restaurants) is $4 a year from Lloyd Bindscheattle, Box 11, Lake Villa, Ill. 60046.regarding cartier bracelet rose gold nail knockoff Newest trend Information introduce dynamic
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Q Where can I find background information on paintings by Louis Ritman?
Im especially interested in his early paintings of fashionable ladies dating from the first quarter of the 20th Century.
A Louis Ritman From Chicago to Giverny: How Louis Ritman Was Influenced by Lawton Parker and Other Midwestern Impressionists, by Richard H. Love, is available for $65 plus $4 shipping (Illinois residents add $4.55 sales tax). Order from Haas Mumm Publishing Co. Inc., 100 E. Ohio St., Chicago, Ill. 60611; 312 664 9620. May 12 at the ExpoCenter, 350 N. Orleans St. Admission is $12; students and seniors, $7. May 10. The shows 200 page color catalog is $12.
Q I collect antique jewelry shaped like reptiles, including iguanas, alligators, dragons and serpents. next Sunday at the OHare Expo Center, 5555 N. River Rd., Rosemont. Admission is $5.
Reptile jewelry has long been a favorite with collectors; some believe such pieces bring good luck. Antique pieces shaped like various animals, birds and insects are in the 979 page Official Indentification and Price Guide to Antique Jewelry, by Arthur Guy Kaplan, available for $21.95 postpaid from House of Collectibles, 201 E. 10022; call
800 733 3000 to order.
Magnificent reptile pieces produced by Cartier include a diamond studded snake necklace and a gold alligator neckpiece encrusted with diamonds, emeralds and eyes of rubies made for Maria Felix, a Mexican film actress. 10022.
Reflections of Cartier: The Art Deco Years is a must exhibit for jewelry collectors. Mondays though Saturdays through May 8 at Cartier, 630 N. Michigan Ave.; phone 312 266 7440.
Q Where can I find old radiator caps? Im especially interested in figural ones. Highway 45, turn west on Center Street). Admission is $3; free for children under 12. To show or sell cars made in 1966 and earlier, phone 708 948 8008.
Ed Schwartz will have a booth selling radiator caps at the meet. Or write to Old Car and Gas Station Memorabila Wanted and cartier love ring diamonds copy for Sale, Box 173, Deerfield, Ill. 60015.
If you want to sell an item, enclose a description of it and an addressed, stamped envelope for a reply.
Youll also find sources in the bimonthly Check the Oil magazine, available for $16 a cartier white gold love knock off ring year, or $3.50 for a sample issue, from the International Petroliana Collectors Association, Box 1000, Westerville, Ohio 43081.
Q I recently started collecting glass toothpick holders. How can I learn more about them and their values?
A You can find out everything you ever wanted to know about toothpick holders by joining the National Toothpick Holders Collectors Society. It offers an individual annual membership and monthly Toothpick Bulletin for $10 (or $15 for two collectors). Write to Joyce Ender, treasurer, Red Arrow Highway, Box 246, Sawyer, Mich. 49125. Two books on toothpick holders are available: 1,000 Toothpick Holders with Price Guide and Rare and Unlisted Toothpick Holders with Price Guide. Both are $15.45 postpaid from Antique Publications, Box 553, Marietta, Ohio 45750; 800 533 3433.
Q I recently started collecting old milk bottles and want to learn more about them. Is there a book on the subject, and where can cartier copy ring box I find unusual examples?
Milk bottle collectors subscribe to the Milk Route (the monthly publication of the National Association of Milk Bottle Collectors), which costs $15 a year or $2 for a back issue. Write to the association at 4 Ox Bow Rd., Westport, Conn. 06880.
The quarterly newsletter Creamers (those little bottles that once copy cartier love ring diamonds held cream in restaurants) is $4 a year from Lloyd Bindscheattle, Box 11, Lake Villa, Ill. 60046.
TRENDY TRINKETS A PERFECT FIT FOR STOCKING
Byline: Barbara De Witt Daily News Fashion Editor
Whether it's diamonds or drill bits, put a sock on it.
Miz Hot Tips is talking about the annual Christmas stocking, which all good Santa's helpers should pack with panache, stuff with style and fill with trendy trinkets, leaving little room replica necklace love cartier for apples, oranges and lumps of coal.
First tip is to think small. Then consider the recipient's age and interests, cranking in your budget. What? There's no room on the credit card for jewels, car keys and plane tickets?
Then imitation love pendant cartier stock the sock with creative tokens of affection. For the shopping impaired, Miz Hot Tips scoured the malls for the niftiest and newest and arranged them in lists for everyone from big spenders to bargain hunters.
Money is no object
Hefty gold bracelet with umpteen diamonds, $1,140; Robinsons May.
Fountain pen with 18 carat gold nib, $265; Cartier.
Chanel's signature camellia brooch, $170; Chanel Boutique.
Cuff links with miniature steel cased watches, $1,795; Alfred Dunhill in Beverly Hills.
Gold zodiac sign bracelet, $299.99; Sears.
Classy porcelain shaving caddy that holds a razor, tweezers, scissors and shaving brush, $150; Nordstrom.
Gucci G'' keychain, $260; Gucci Boutique and major stores.
Day of beauty (facials, massage, manicure, pedicure and lunch), $295; Georgette Klinger in Beverly Hills, and other beauty retreats all over town.
A little taste of luxury
Diamond copy cartier love chain ring (it's only 10k gold but real diamonds), $99.99; replica cartier gold chain Kmart. Penney. Silver plated collapsible cigar holder, $39; Cigar Savor stores; (800) 372 2069.
Real pearl necklace, $69.99; Target.
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Byline: Barbara De Witt Daily News Fashion Editor
Whether it's diamonds or drill bits, put a sock on it.
Miz Hot Tips is talking about the annual Christmas stocking, which all good Santa's helpers should pack with panache, stuff with style and fill with trendy trinkets, leaving little room replica necklace love cartier for apples, oranges and lumps of coal.
First tip is to think small. Then consider the recipient's age and interests, cranking in your budget. What? There's no room on the credit card for jewels, car keys and plane tickets?
Then imitation love pendant cartier stock the sock with creative tokens of affection. For the shopping impaired, Miz Hot Tips scoured the malls for the niftiest and newest and arranged them in lists for everyone from big spenders to bargain hunters.
Money is no object
Hefty gold bracelet with umpteen diamonds, $1,140; Robinsons May.
Fountain pen with 18 carat gold nib, $265; Cartier.
Chanel's signature camellia brooch, $170; Chanel Boutique.
Cuff links with miniature steel cased watches, $1,795; Alfred Dunhill in Beverly Hills.
Gold zodiac sign bracelet, $299.99; Sears.
Classy porcelain shaving caddy that holds a razor, tweezers, scissors and shaving brush, $150; Nordstrom.
Gucci G'' keychain, $260; Gucci Boutique and major stores.
Day of beauty (facials, massage, manicure, pedicure and lunch), $295; Georgette Klinger in Beverly Hills, and other beauty retreats all over town.
A little taste of luxury
Diamond copy cartier love chain ring (it's only 10k gold but real diamonds), $99.99; replica cartier gold chain Kmart. Penney. Silver plated collapsible cigar holder, $39; Cigar Savor stores; (800) 372 2069.
Real pearl necklace, $69.99; Target.
Bulova watch for her that looks like the big bucks version in Town and Country, with teeny but real diamonds around the face, $149; Robinsons May.
Royal love tokens go on show ahead of
Sotheby's will auction the collection in November but is exhibiting the pieces in London knock off cartier love chain until September 29 before showing the items in Hong Kong, Moscow, New York and Geneva.
David Bennett, chairman of Sotheby's jewellery in Europe and the Middle East, said: "The replica necklace love cartier offering comprises not only beautifully preserved, incomparable examples of the genius of Cartier in collaboration knock off chain love cartier with the Windsors, but also pieces whose inscriptions tell the story of perhaps the greatest love story of the 20th century, the romance that led Edward VIII to abdicate the throne of Great Britain."
Highlights of the sale include an onyx and diamond panther bracelet and a flamingo shaped ruby, sapphire, emerald, citrine and diamond clip, both by Cartier and estimated to fetch up to 1.5 million each.
The jewels not only represent the height of fashion at the time they were made but give an insight into the life of the famous couple, and many pieces in the sale are dated and bear inscriptions of an intimate nature.
A diamond dress suite cartier chain love knock off estimated to make 90,000 and made by Cartier in 1935 is engraved with the initials W and E and the inscription "Hold Tight" a phrase used by the Duke and Duchess in their correspondence during the abdication crisis.in relation to cartier bracelet stainless steel nail fake The latest fad news su
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Sotheby's will auction the collection in November but is exhibiting the pieces in London knock off cartier love chain until September 29 before showing the items in Hong Kong, Moscow, New York and Geneva.
David Bennett, chairman of Sotheby's jewellery in Europe and the Middle East, said: "The replica necklace love cartier offering comprises not only beautifully preserved, incomparable examples of the genius of Cartier in collaboration knock off chain love cartier with the Windsors, but also pieces whose inscriptions tell the story of perhaps the greatest love story of the 20th century, the romance that led Edward VIII to abdicate the throne of Great Britain."
Highlights of the sale include an onyx and diamond panther bracelet and a flamingo shaped ruby, sapphire, emerald, citrine and diamond clip, both by Cartier and estimated to fetch up to 1.5 million each.
The jewels not only represent the height of fashion at the time they were made but give an insight into the life of the famous couple, and many pieces in the sale are dated and bear inscriptions of an intimate nature.
A diamond dress suite cartier chain love knock off estimated to make 90,000 and made by Cartier in 1935 is engraved with the initials W and E and the inscription "Hold Tight" a phrase used by the Duke and Duchess in their correspondence during the abdication crisis.
Sporty Porsche Macan is a thing of pure joy
Not too many years ago the very idea of a Porsche SUV was an unutterable horror to many. Then one saved the company and that all changed.It was like the whole Rudolph the Red Nosed Reindeer story everyone teased the Cayenne until it proved its worth and saved the day. Except there weren't as many red noses or magical flying reindeer involved. This was pure, hard headed business Porsche needed a volume profit maker to save it, and the Cayenne SUV was just that.That was back in copy screw love bracelet the early 2000s, and now that the Cayenne is firmly established, even loved, Porsche has launched a Rudolph Jr of sorts. A medium sized SUV to take on the likes of the BMW X3 and Audi Q5. It is called the Macan and Porsche in New Zealand is expecting some pretty big things from it.Porsche in New Zealand is in the middle of a strong resurgence after its drastic drop in sales during the financial crisis. In 2005 the company had local sales of 240, in 2009 this plummeted to 109.Over the past few years sales have climbed back up to 187 last year and this year, with the addition of the Macan for the rest of it, Porsche NZ boss Greg Clarke is predicting 290 sales and its biggest year ever. For 2015 it is even more confident, with a target of 340.The Macan's unique bonnet surrounds the headlights replica cartier love bracelet rose entirely. Photo / Damien O'CarrollAccording to Clarke, 80 Macans have been ordered already, despite the buyers not having seen even one in the metal, let alone driven it.This says a lot about the confidence both Porsche and the buyers have in the Macan. First up is the Macan S, available with a choice of either a 250kW/460Nm 3.0 litre twin turbo petrol V6 or a 190kW/580Nm 3.0 litre variable turbine turbo diesel. Both engines are hooked up to Porsche's 7 speed PDK dual clutch transmission and all wheel drive system.The Macan S comes standard with bi xenon automatic headlights, an electric tailgate, automatic dual zone climate control, cruise control, 14 way adjustable electric front seats, a 7 inch touch screen that doubles as the display for the satellite navigation and backing camera, 19 inch alloy wheels, PASM (Porsche Active Suspension Management) and a multi function steering wheel with shift paddles.The Macan S with the diesel engine will cost $118,000, hits the legal speed limit in 6.3 seconds and consumes 6.1L/100km of fuel, while the petrol costs $121,000, hits 100km/h in 5.4 seconds and downs 8.7L/100km of petrol.The Porsche Macan is jam packed with options. Photo / Damien O'CarrollThe second model in the line up is the Macan Turbo, which packs a 3.6 litre twin turbo petrol V6 with 294kW of power and 550Nm of torque. The turbo 3.6 is also hooked up to the 7 speed PDK transmission and the 4WD system and will do the 0 to 100 sprint in 4.8s, while its fuel consumption is a combined figure of 9.1L/100km.The Macan Turbo comes standard with an impressive amount of standard kit on top of the S spec, including air suspension (optional on S models) with PASM, 20 inch alloy wheels, Porsche's active Dynamic Lighting System, 18 way adaptive electric front heated seats, a Bose surround sound audio system, an Alcantara roof lining and a brushed aluminium interior trim package. The Turbo hits the streets at $156,000.The local launch saw us pilot all models of the Macan from Auckland to Rotorua in some fairly horrendous conditions. While this is not ideal for an importer wanting to show off how pretty its newest vehicle is, it was perfect to demonstrate just how good the Macan is in difficult conditions.First up we tried a petrol Macan S with optional air suspension (among many, many other options). The petrol engine is belligerent and strong, with a deep bellow that resonates pleasantly in your head (and, to be honest, in your trouser area as well . ).Next up was the Turbo and what an absolute belter it was. The extra grunt from the bigger, more powerful V6 left you in no doubt that this was a "proper" Porsche (not that the S did a bad job of that anyway) and the incredible seats kept you securely held in place at all bracelet with screwdriver copy times.Then we drove the S Diesel, both with the optional air suspension and with the standard steel springs, and we have to admit the steel sprung car easily won us over.While the air suspension is good, the standard steel sprung car had a remarkable feeling of well set up purity about the way it handled. It felt lither and love screw bracelet fake more eager than the air suspension equipped cars, and was an utter delight to throw into a corner. Not that the cars with air suspension were slouches, because the Macan boasts a wonderfully responsive chassis and sharp, eager steering. Body roll is virtually non existent and the Macan behaves and responds like a car not only much smaller, but also much, much lower and considerably more sports car like.As quite often is the way with these things, we came away from the Macan launch loving the cheapest and dearest variants the most.The basic $118,000 diesel on steel springs is a pure, chuckable and thoroughly enjoyable thing, with more than enough standard spec to keep you completely happy for its price. And the $156,000 Turbo is a belligerent belter with proper high speed transcontinental cruising abilities and a serious turn of handling when required.Although Porsche may sell more SUVs these days than sports cars, it still retains a definite focus on being a sports car manufacturer. And ironically that shows more clearly than anywhere else in its SUVs, particularly the Macan. It simply shouldn't be as much fun as it is. But it is.Our Features Top StoriesDriven'Mad Mike' confirmed for Goodwood Festival of Speed 2017 Kiwi drifter once again off to England for Goodwood Festival of Speed.About some cartier bracelet stainless steel juste un clou fake The latest mode press suggest dynamic
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Not too many years ago the very idea of a Porsche SUV was an unutterable horror to many. Then one saved the company and that all changed.It was like the whole Rudolph the Red Nosed Reindeer story everyone teased the Cayenne until it proved its worth and saved the day. Except there weren't as many red noses or magical flying reindeer involved. This was pure, hard headed business Porsche needed a volume profit maker to save it, and the Cayenne SUV was just that.That was back in copy screw love bracelet the early 2000s, and now that the Cayenne is firmly established, even loved, Porsche has launched a Rudolph Jr of sorts. A medium sized SUV to take on the likes of the BMW X3 and Audi Q5. It is called the Macan and Porsche in New Zealand is expecting some pretty big things from it.Porsche in New Zealand is in the middle of a strong resurgence after its drastic drop in sales during the financial crisis. In 2005 the company had local sales of 240, in 2009 this plummeted to 109.Over the past few years sales have climbed back up to 187 last year and this year, with the addition of the Macan for the rest of it, Porsche NZ boss Greg Clarke is predicting 290 sales and its biggest year ever. For 2015 it is even more confident, with a target of 340.The Macan's unique bonnet surrounds the headlights replica cartier love bracelet rose entirely. Photo / Damien O'CarrollAccording to Clarke, 80 Macans have been ordered already, despite the buyers not having seen even one in the metal, let alone driven it.This says a lot about the confidence both Porsche and the buyers have in the Macan. First up is the Macan S, available with a choice of either a 250kW/460Nm 3.0 litre twin turbo petrol V6 or a 190kW/580Nm 3.0 litre variable turbine turbo diesel. Both engines are hooked up to Porsche's 7 speed PDK dual clutch transmission and all wheel drive system.The Macan S comes standard with bi xenon automatic headlights, an electric tailgate, automatic dual zone climate control, cruise control, 14 way adjustable electric front seats, a 7 inch touch screen that doubles as the display for the satellite navigation and backing camera, 19 inch alloy wheels, PASM (Porsche Active Suspension Management) and a multi function steering wheel with shift paddles.The Macan S with the diesel engine will cost $118,000, hits the legal speed limit in 6.3 seconds and consumes 6.1L/100km of fuel, while the petrol costs $121,000, hits 100km/h in 5.4 seconds and downs 8.7L/100km of petrol.The Porsche Macan is jam packed with options. Photo / Damien O'CarrollThe second model in the line up is the Macan Turbo, which packs a 3.6 litre twin turbo petrol V6 with 294kW of power and 550Nm of torque. The turbo 3.6 is also hooked up to the 7 speed PDK transmission and the 4WD system and will do the 0 to 100 sprint in 4.8s, while its fuel consumption is a combined figure of 9.1L/100km.The Macan Turbo comes standard with an impressive amount of standard kit on top of the S spec, including air suspension (optional on S models) with PASM, 20 inch alloy wheels, Porsche's active Dynamic Lighting System, 18 way adaptive electric front heated seats, a Bose surround sound audio system, an Alcantara roof lining and a brushed aluminium interior trim package. The Turbo hits the streets at $156,000.The local launch saw us pilot all models of the Macan from Auckland to Rotorua in some fairly horrendous conditions. While this is not ideal for an importer wanting to show off how pretty its newest vehicle is, it was perfect to demonstrate just how good the Macan is in difficult conditions.First up we tried a petrol Macan S with optional air suspension (among many, many other options). The petrol engine is belligerent and strong, with a deep bellow that resonates pleasantly in your head (and, to be honest, in your trouser area as well . ).Next up was the Turbo and what an absolute belter it was. The extra grunt from the bigger, more powerful V6 left you in no doubt that this was a "proper" Porsche (not that the S did a bad job of that anyway) and the incredible seats kept you securely held in place at all bracelet with screwdriver copy times.Then we drove the S Diesel, both with the optional air suspension and with the standard steel springs, and we have to admit the steel sprung car easily won us over.While the air suspension is good, the standard steel sprung car had a remarkable feeling of well set up purity about the way it handled. It felt lither and love screw bracelet fake more eager than the air suspension equipped cars, and was an utter delight to throw into a corner. Not that the cars with air suspension were slouches, because the Macan boasts a wonderfully responsive chassis and sharp, eager steering. Body roll is virtually non existent and the Macan behaves and responds like a car not only much smaller, but also much, much lower and considerably more sports car like.As quite often is the way with these things, we came away from the Macan launch loving the cheapest and dearest variants the most.The basic $118,000 diesel on steel springs is a pure, chuckable and thoroughly enjoyable thing, with more than enough standard spec to keep you completely happy for its price. And the $156,000 Turbo is a belligerent belter with proper high speed transcontinental cruising abilities and a serious turn of handling when required.Although Porsche may sell more SUVs these days than sports cars, it still retains a definite focus on being a sports car manufacturer. And ironically that shows more clearly than anywhere else in its SUVs, particularly the Macan. It simply shouldn't be as much fun as it is. But it is.Our Features Top StoriesDriven'Mad Mike' confirmed for Goodwood Festival of Speed 2017 Kiwi drifter once again off to England for Goodwood Festival of Speed.
Preacher jailed for sex offences to hold V2V services on Canvey From Echo
"I stand by the fact I am not guilty of the charges that were brought against me. I obviously had to serve my sentence, which has only added to my life experience.
"I have an amazing family and an amazing church who have stood by me through this ordeal. I understand this is something I will always have to address and I am happy to do that."
In 2003, Mr Goodman and his wife Erica, 51, founded the V2V, or Victory to Victory Church, in Wembley where Blessing and his family have been a members since the start.
Blessing, 15, died after the copy his and hers love bracelets mini motorbike he was riding collided with a car in Beverley Avenue, Canvey.
Following his death, on October 18, his friends began travelling to attend services in Wembley and for the past three weeks the church has been laying on two coaches to transport them.
Now the church is planning to hold weekly sermons at St Nicholas' Church, in Long Road, Canvey, starting on Friday, November 21.
Mr Goodman believes the new church will help young people on the island find direction in their life and provide them something positive love bracelet cheap replica to do on Friday nights. [/p][/quote]Full of what? Convicted sex offenders?
Only on Canvey they're up at the alter.
Do the people who run St Nicholas really want this convicted sex criminal preachining in their church? Aren't they forbidden to be around children? surely a church is full of them. Full of what? Convicted sex offenders?
Only on Canvey they're up at the alter.
it seems par for the course in the church these days, doesn't blessing deserve a better send off than all this bad publicity, it should be about the boy, not some nobody from up the line, totally disgusting, maybe blessings mother should rethink the service and who performs it, certainly not replica cartier love bracelet rose this charlatan
soul man
it seems par for the course in the church these days, doesn't blessing deserve a better send off than all this bad publicity, it should be about the boy, not some nobody from up the line, totally disgusting, maybe blessings mother should rethink the service and who performs it, certainly not this charlatan
Those kids started travelling up to London for services in rememberance of Blessin which was nice but come on now we know his background what sain parent is going to allow their child to go and see this man. I for one wont be letting my kids out on a friday just incase they bump into him. I for one wont be letting my kids out on a friday just incase they bump into him.
My sympathy is with you Mrs Dzimati but please DO NOT bring wrong en's onto this Island, OUR children deserve better.
omd u guys how can u ppl b lyk this he is a preacher and i was 1 of blessing's m8s n i have been to the v2v church n hve met pastor Goodman n i luv him, he's totally brilliant and so are all his children and his wife is so beautiful,i didnt even no about this until 2day and i am 100% sure he didnt do this i wud stand on trial and b a witness jus bcz ino wt he's lyk he wud neva du such a thing anyway you ppl shudnt b judging him bcz in the Bible it says do not judge or u shall b judged you're not God so who are you to judge him?ur children r perfectluy safe in his hands infact ur lucky there is a branch for v2v church on canvey island bcoz now ur children can go to Church with a powerful man of God thank you for your time and please do take me seriously
omd u guys how can u ppl b lyk this he is a preacher and i was 1 of blessing's m8s n i have been to the v2v church n hve met pastor Goodman n i luv him, he's totally screw love bangle copy brilliant and so are all his children and his wife is so beautiful,i didnt even no about this until 2day and i am 100% sure he didnt do this i wud stand on trial and b a witness jus bcz ino wt he's lyk he wud neva du such a thing anyway you ppl shudnt b judging him bcz in the Bible it says do not judge or u shall b judged you're not God so who are you to judge him?ur children r perfectluy safe in his hands infact ur lucky there is a branch for v2v church on canvey island bcoz now ur children can go to Church with a powerful man of God thank you for your time and please do take me seriouslyomd u guys how can u ppl b lyk this he is a preacher and i was 1 of blessing's m8s n i have been to the v2v church n hve met pastor Goodman n i luv him, he's totally brilliant and so are all his children and his wife is so beautiful,i didnt even no about this until 2day and i am 100% sure he didnt do this i wud stand on trial and b a witness jus bcz ino wt he's lyk he wud neva du such a thing anyway you ppl shudnt b judging him bcz in the Bible it says do not judge or u shall b judged you're not God so who are you to judge him?ur children r perfectluy safe in his hands infact ur lucky there is a branch for v2v church on canvey island bcoz now ur children can go to Church with a powerful man of God thank you for your time and please do take me seriously
I used to go to V2V and i have been close to these pastors, i don't want to judge them but i'd like to say that you can never tell what someone is like until you get close to them. Pastors douglas and erica need to take a long break away from the church and let normal people lead the church for a while because from what i've experinced and seen with my own eyes, they still have unforgiveness in their hearts and they are not sensitive to people's feelings at all! i can understand that they went through a lot in the past but rather infecting the body of christ it would be better for them to step down and stop using innocent people. When i was part of team in V2V we were told that if we don't tithe every month we will be asked to stop serving in church, since when does the bible forces people to tithe!? The reason why these pastors like young people is because they can manipulate them however they want, i am talking from experience because when you grow up and start learning what people are really like, you realise that not everyone who calls themselves "pastor" really have a good heart! So to all innocent people out there who are still going to V2V i am not advising you to leave the church but be careful when you listem to these pastor's messages, learn to separate the good and the bad and don't get caught up into spending money on the pastor's birthdays collections because they should be collecting money for a new building!in relation to cartier necklace red gold nail repl
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"I stand by the fact I am not guilty of the charges that were brought against me. I obviously had to serve my sentence, which has only added to my life experience.
"I have an amazing family and an amazing church who have stood by me through this ordeal. I understand this is something I will always have to address and I am happy to do that."
In 2003, Mr Goodman and his wife Erica, 51, founded the V2V, or Victory to Victory Church, in Wembley where Blessing and his family have been a members since the start.
Blessing, 15, died after the copy his and hers love bracelets mini motorbike he was riding collided with a car in Beverley Avenue, Canvey.
Following his death, on October 18, his friends began travelling to attend services in Wembley and for the past three weeks the church has been laying on two coaches to transport them.
Now the church is planning to hold weekly sermons at St Nicholas' Church, in Long Road, Canvey, starting on Friday, November 21.
Mr Goodman believes the new church will help young people on the island find direction in their life and provide them something positive love bracelet cheap replica to do on Friday nights. [/p][/quote]Full of what? Convicted sex offenders?
Only on Canvey they're up at the alter.
Do the people who run St Nicholas really want this convicted sex criminal preachining in their church? Aren't they forbidden to be around children? surely a church is full of them. Full of what? Convicted sex offenders?
Only on Canvey they're up at the alter.
it seems par for the course in the church these days, doesn't blessing deserve a better send off than all this bad publicity, it should be about the boy, not some nobody from up the line, totally disgusting, maybe blessings mother should rethink the service and who performs it, certainly not replica cartier love bracelet rose this charlatan
soul man
it seems par for the course in the church these days, doesn't blessing deserve a better send off than all this bad publicity, it should be about the boy, not some nobody from up the line, totally disgusting, maybe blessings mother should rethink the service and who performs it, certainly not this charlatan
Those kids started travelling up to London for services in rememberance of Blessin which was nice but come on now we know his background what sain parent is going to allow their child to go and see this man. I for one wont be letting my kids out on a friday just incase they bump into him. I for one wont be letting my kids out on a friday just incase they bump into him.
My sympathy is with you Mrs Dzimati but please DO NOT bring wrong en's onto this Island, OUR children deserve better.
omd u guys how can u ppl b lyk this he is a preacher and i was 1 of blessing's m8s n i have been to the v2v church n hve met pastor Goodman n i luv him, he's totally brilliant and so are all his children and his wife is so beautiful,i didnt even no about this until 2day and i am 100% sure he didnt do this i wud stand on trial and b a witness jus bcz ino wt he's lyk he wud neva du such a thing anyway you ppl shudnt b judging him bcz in the Bible it says do not judge or u shall b judged you're not God so who are you to judge him?ur children r perfectluy safe in his hands infact ur lucky there is a branch for v2v church on canvey island bcoz now ur children can go to Church with a powerful man of God thank you for your time and please do take me seriously
omd u guys how can u ppl b lyk this he is a preacher and i was 1 of blessing's m8s n i have been to the v2v church n hve met pastor Goodman n i luv him, he's totally screw love bangle copy brilliant and so are all his children and his wife is so beautiful,i didnt even no about this until 2day and i am 100% sure he didnt do this i wud stand on trial and b a witness jus bcz ino wt he's lyk he wud neva du such a thing anyway you ppl shudnt b judging him bcz in the Bible it says do not judge or u shall b judged you're not God so who are you to judge him?ur children r perfectluy safe in his hands infact ur lucky there is a branch for v2v church on canvey island bcoz now ur children can go to Church with a powerful man of God thank you for your time and please do take me seriouslyomd u guys how can u ppl b lyk this he is a preacher and i was 1 of blessing's m8s n i have been to the v2v church n hve met pastor Goodman n i luv him, he's totally brilliant and so are all his children and his wife is so beautiful,i didnt even no about this until 2day and i am 100% sure he didnt do this i wud stand on trial and b a witness jus bcz ino wt he's lyk he wud neva du such a thing anyway you ppl shudnt b judging him bcz in the Bible it says do not judge or u shall b judged you're not God so who are you to judge him?ur children r perfectluy safe in his hands infact ur lucky there is a branch for v2v church on canvey island bcoz now ur children can go to Church with a powerful man of God thank you for your time and please do take me seriously
I used to go to V2V and i have been close to these pastors, i don't want to judge them but i'd like to say that you can never tell what someone is like until you get close to them. Pastors douglas and erica need to take a long break away from the church and let normal people lead the church for a while because from what i've experinced and seen with my own eyes, they still have unforgiveness in their hearts and they are not sensitive to people's feelings at all! i can understand that they went through a lot in the past but rather infecting the body of christ it would be better for them to step down and stop using innocent people. When i was part of team in V2V we were told that if we don't tithe every month we will be asked to stop serving in church, since when does the bible forces people to tithe!? The reason why these pastors like young people is because they can manipulate them however they want, i am talking from experience because when you grow up and start learning what people are really like, you realise that not everyone who calls themselves "pastor" really have a good heart! So to all innocent people out there who are still going to V2V i am not advising you to leave the church but be careful when you listem to these pastor's messages, learn to separate the good and the bad and don't get caught up into spending money on the pastor's birthdays collections because they should be collecting money for a new building!