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up the road
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18-01-2009 3:07am#1
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I'd like to see Sligo town mostly pedestianised with lots of vibrant & cosmopolitan bars, shops, cafes & tapas bars.. a more bohemian look than a "shanty" look... decent retail "out of town" shopping & entertainment and lots of investment & development in local communities.
But that'll nver happen. And do you know who's to blame for this "global economic downturn" ("what recession" says Africa!)..... YES - it was caused by a pop star. A very famous pop star... David Bowie nonetheless...
Back in 1997 Bowie came up with the idea of selling his projected royalties income in the form of ‘Bowie Bonds'.
In other words, Bowie realised he would have a steady stream of money coming in from the sale of his music but rather than wait for it to accrue, he sold the rights to the future earnings so he could withdraw a large cash sum there and then. This became known as ‘securitisation'.
Towards the end of the 1990s, the banks began to adopt a similar model but on a much much larger scale.
But instead of selling royalties in the case of Bowie, they began to sell on mortgages that they had loaned to their customers.
The premise was that the buyer of the loans would have a guaranteed income from the interest on the repayments and the banks would take an upfront cash sum in return.
Banks were lending out huge bundles of loans in the guise of contracts, giving the buyer the rights to the future repayments on those loans.
The problems began when loans were given to people who were then unable to pay them back. This caused many of these contracts to be rendered worthless and a lot of this bad debt had to be written off, causing the financial system to lose billions of pounds.
Did Bowie cause the credit crunch? Yes!
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starbelgrade wrote: »I'd like to see Sligo town mostly pedestianised with lots of vibrant & cosmopolitan bars, shops, cafes & tapas bars.. a more bohemian look than a "shanty" look... decent retail "out of town" shopping & entertainment and lots of investment & development in local communities.
But that'll nver happen. And do you know who's to blame for this "global economic downturn" ("what recession" says Africa!)..... YES - it was caused by a pop star. A very famous pop star... David Bowie nonetheless...
Back in 1997 Bowie came up with the idea of selling his projected royalties income in the form of ‘Bowie Bonds'.
In other words, Bowie realised he would have a steady stream of money coming in from the sale of his music but rather than wait for it to accrue, he sold the rights to the future earnings so he could withdraw a large cash sum there and then. This became known as ‘securitisation'.
Towards the end of the 1990s, the banks began to adopt a similar model but on a much much larger scale.
But instead of selling royalties in the case of Bowie, they began to sell on mortgages that they had loaned to their customers.
The premise was that the buyer of the loans would have a guaranteed income from the interest on the repayments and the banks would take an upfront cash sum in return.
Banks were lending out huge bundles of loans in the guise of contracts, giving the buyer the rights to the future repayments on those loans.
The problems began when loans were given to people who were then unable to pay them back. This caused many of these contracts to be rendered worthless and a lot of this bad debt had to be written off, causing the financial system to lose billions of pounds.
Did Bowie cause the credit crunch? Yes!
Sub prime Mortgages. People in the US loved it. They took out mortgages they knew they couldn't afford, and the guys selling them knew it too. They got a free house for 6 months before the eviction proceedigns would start, and another few months before they get kicked out, so they got a free house for a year or so.
Who wouldn't do that?
I'll be back on topic from now on, I promise.
Oh by the way, this post is jinxed. Its my 666th post.0 -
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..what would you like to see happen(or not) in the future.
Cork recently went through a revamp before playing host as the capital city of culture, they made a great job of their traffic ways. Oliver Plunket St. is an example of how we could bring life back to O Connell St, allowing a single lane of cars down after 6pm.
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rather like that idea or some sort of variation on it like big macCork recently went through a revamp before playing host as the capital city of culture, they made a great job of their traffic ways. Oliver Plunket St. is an example of how we could bring life back to O Connell St, allowing a single lane of cars down after 6pm.
suggested in an earlier post...think for the o'connell street area to succeed some kind of vehicle/pedestrian compromise would suit it.0 -
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I think it would be a real shame if they were to roll back on O Connell street pedestrinisation. Was the first step to put people before cars and inject a bit of life into the centre. Been great for people with kids, more accessible for disabled people etc I hope it continues and they build on making it vibrant, do more gigs lke the save the cancer services ones etc.
Also would like to see the market in Rockwood parade more regularly there with local craftspeople and veg/ fruit and cheese stalls etc May tempt people to get in and around Sligo and make it more attractive for visitors.
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Moore street type stall are not the way forward. Besides, it would not be fair to the shopkeepers who try to sell fruit + veg, and who pay rates + rent 365 days a year, to have traders on Rockwood parade selling fruit + veg.
Just spotted in todays Champion there is already some proposals afoot to have a market on Stephen street car park! (Hurrah!)
It would be the organic market et al thats currently at the IT? Certainly woudlnt be keen on shopkeepers going out of business but there isnt too many that I can see selling good local food stuff apart from the little veg place in Wine street car park. Cerainly not too many selling organic I would have thought. Otherwise its off to the giant retailers that import in veg. (carbon footprint and all that marlarky) Any trader would have to pay for a stall and if you make Sligo an attractive place visually to browse in etc I am sure it would have postive reverberations for alot of local resident businesses too.
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Once a month would do nothing for the local economy or for local car parking. The I.T. car park is where it belongs. Car parks in Sligo are for cars. Pavements and parhways are for people. Shops pay rates, taxes and rent.
Okay you twisted my arm lets let have it twice a month since you ask! Market traders will be paying charges,which will feed back into the tax system. Re the car parks; Is the I.T car park not for cars then?! I am losing the rules here!
And as for pavements I am in agreement they are for people. Didnt think pavements were mentioned here though.
Unless you mean Rockwood parade: (I thought Rockwood parade pedestrian only until I've almost been run down a few times! )
I think we will agree to differ about the type of place we want Sligo to be. However, I would have thought that Sligo chamber of commerce would have wanted dancing bears and giraffes on tightropes over the garavogue at the moment if it were to bring the buying public in.0 -
Very little charges, it would generate as much revenue as ash on the ashtray of a motorbikeyOkay you twisted my arm lets let have it twice a month since you ask! Market traders will be paying charges,which will feed back into the tax system.Re the car parks; Is the I.T car park not for cars then?! I am losing the rules here!
Much of the I.T. car park is otherwise empty on Saturdays. The opposite is true in Sligo ; Saturday is a busy shopping day, where the nearby shops need car parking spaces for shoppers...thats what they pay rates etc for(I thought Rockwood parade pedestrian only until I've almost been run down a few times! )
I agree Rockwood parade is too narrow / not meant for Moore st stalls.0 -
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