Increasing Pressures

It was difficult to get up this morning after such a busy weekend. I had to be in Dorking today for a TUPE presentation. After a breakfast of fresh grapefruit and kippers (not Manx ones) it was off in the car to Grateley Station to pick up Anthony off the 07.27 train from Salisbury. We had quite a clear run into Dorking with just a bit of heavy traffic around Guildford. This was quite unusual for a Monday morning - I can only think that the recession is now hitting and that fewer people are now commuting into London. We arrived in Dorking at 9.15 a.m. and I had plenty of time to deal with admin. matters before the 2-hour TUPE presentation in HR. The presentation went very well with predictable questions from the attendees. It's clear that the company is looking to offshoring more services to keep costs down and thus increase profitability. After a lunch of steak pie and yoghurt it was an afternoon of fairly routine complaint handling and other compensation claims. This evening was taken up with a Sarum Lodge GPC meeting and a rehearsal for the full meeting on Wednesday. I could also have attend the Chapter of Improvement for tomorrow's Chapter Meeting in Brighton but having decided to resign from my Brighton Chapter and join one in Salisbury instead felt it was inappropriate and an unnecessary expense in both money and time - it is so expensive now to park in Brighton. Today saw one of the worst falls on the stock market since 2003 and my own shares portfolio took an absolute bashing. Back home I checked my financial accounts following the share fall. Not good - my shares have halved in value since last summer. It is so difficult to think what to invest in at the moment. HSBC also recorded a substantial downturn in profits today and is hoping that its shareholders will help out with with a £12bn rights issue. I think it will take a long long time before we get out of this recession. The only good news is that our mortgage is being paid off quickly now and Sara and I still both have the prospects of a defined benefits (final salary) pensions in the not too distant future.